Overview
Jarus Underwriter Workbench improves the underwriting workflow for internal users by leveraging a single, consistent workflow across all monoline and multi-line policies. This powerful workbench allows users to underwrite new policies, understand referral reasons, review rating steps, bind, and issue in one session. Users can also initiate post-issuance transactions manually, or automatically, by leveraging Jarus' sophisticated new business rule set. Further, underwriters can fully service existing policies, including the ability to administer policy changes, review renewals, process cancellations, initiate reinstatements, and complete out-of-sequence transactions.
The Jarus Underwriter Workbench may be licensed as part of the Jarus Policy Admin System core offering or may be deployed as a stand-alone solution with full integration capabilities to any existing carrier system.
Jarus is one of the only vendors that truly promotes customer independence through our "buy, build, own" philosophy. For our customers, we eliminate the "annual tax" prescribed by most core system vendors and offer a source-code option, which allows our customers to own, rather than "lease", their solution.
Key Features
One Consistent Workflow: The Jarus Underwriter Workbench provides a single, consistent workflow for all lines of business, including but not limited to, personal, commercial, farm, specialty, inland marine, and life insurance.
Role-based User Interface: The Jarus Underwriter Workbench leverages a role-based user authentication system. Each unique user has a defined role and a set of permissions that allows the user to complete specific tasks, view data and reports, and underwrite specific risks. This can be as detailed as limiting binding authority or as robust as allowing a manager to view all transactions/submissions for a specific underwriting team.
Monoline and Multiline Capabilities: Create and administer both monoline and multiline policies. Users may easily create and quote bundled policy offerings, applying discounts and advanced offerings when applicable. The system will notify the user when certain policies may be bundled together (e.g. Home and Auto), or when a policy must be written as a monoline offering (e.g. workers' compensation). Users may rate multiple lines of business in one transaction - for example when bundling Home, Auto, and Personal Umbrella, the underwriter will receive one premium, but each product will be rated separately with detailed rating steps outlined for the user. This remains true for commercial multi-peril packages too.
Highly Configurable: Insurance products, coverages, limits, deductibles, rating, eligibility, and underwriting questions are easily configurable using the Jarus Product Configurator. Users need not write custom code to initiate changes to the insurance product offerings.
Extend Usability: This product is easily extensible by mixing and matching custom code. With a purpose-built base underwriting solution, an insurer’s unique way of underwriting risks is easily introduced to ensure optimal user experience and business performance.
Third-Party Data Integrations: Jarus' experienced implementation team has introduced multiple third-party data providers at various points through the underwriting lifecycle and can trigger third-party data "pulls" at any point during the underwriter workflow. This allows Jarus to meet the customer's needs from an ease-of-use perspective, allowing underwriters to concentrate on evaluating the risk, rather than searching for background data on the risk.
Enhanced Underwriting Visibility: Users may view the exact rating steps and rule logs to understand complete premium computation.
Post-Issuance Transactions: Users may fully service existing policyholders through the Jarus Underwriter Workbench. This includes completing policy changes, renewals, cancellations, reinstatement, endorsements, and out-of-sequence endorsements. The solution can be configured to automate post-issuance transactions, such as initiating a property inspection following the issuance of a Homeowner's policy.
No-code, low code: The Jarus Product Configurator allows users to make a majority of changes, such as updating underwriting questions or introducing new supplemental questionnaires, with minimal to no coding requirements. This allows business users to quickly introduce additional information-gathering opportunities without the need to rely on internal IT resources to initiate the changes.
Jarus Product Configurator: The Jarus Product Configurator is provided with every licensed Jarus module. This flexible, agile, web-based solution allows product teams to manage product definitions, rates, rating logic, underwriter workflows, underwriting questions, and business rules without the need to introduce new code to the solution. The low code / no code approach improves speed-to-market with new products and allows insurers to quickly enter new sates.
Key Benefits
Customizable
Mix and match the Jarus Underwriter Workbench with other best-of-breed solutions.
Multi-User Friendly
With a very minimal learning curve business users and analysts can define workflows, underwriting criteria, underwriting questions, and supplemental questions/requirements.
High Visibility
Web-based, responsive UI that allows users to access the system from multiple devices (e.g. laptop or tablet).
Speed-to-market
Shrink time-to-market to implement underwriting eligibility for new products and states. Quickly introduce new underwriting criteria or questions.
Boosts Performance
Obtain sub-second performance from the system and allow underwriters to focus on the risk, not data entry.
Configurable
Flexible and agile system with a web-based Product Configurator that allows product teams to manage the underwriting process. This low/no-code approach improves speed-to-market with new products and new states.
Buy Build Own
Jarus offers the option to purchase the source code with every Jarus Module. We are the only vendor truly promoting customer independence and eliminating the "annual tax" of "leasing" a system. Jarus customers may elect to own the system out-right and need not pay a yearly "hosting" or "licensing" fee.