A US Life & Annuity Carrier Reduced Policy Delivery Time by 70% Using Cloud-Based Underwriting Platform
Overview
A top 10 Life & Annuity Carrier in the US, aiming to aggressively launch accelerated underwriting products to enhance competitiveness, reduce operational costs, and improve customer experience.
The client’s existing underwriting process relied heavily on manual steps and tele-interviews, resulting in:
Lengthy policy delivery timelines (3–4 days).
High infrastructure and tele-interview costs.
Limited scalability for rapid new product launches.
Inefficient integration with third-party data sources.
Solution
Coforge implemented a cloud-based modern framework for underwriting transformation that integrated third-party data, automated workflows, and enhanced digital customer experience:
Built a cloud-native underwriting platform to automate data ingestion and decision-making.
Enabled self-service e-Interview and digital ePolicy delivery capabilities for customers.
Streamlined integration with external data providers using a secure API-based framework.
Modernized infrastructure to support scalability and accelerated product rollout.
The Impact
40–50% reduced request processing time, improving turnaround for new applications.
25% reduction in infrastructure costs through cloud modernization.
50% reduction in tele-interview costs via digital automation.
70% faster policy delivery (reduced from 3–4 days to less than 1 day).
Enabled rapid product launches and improved customer satisfaction through a frictionless digital experience.
