Cogitate DigitalEdge Underwriting Workbench - Draft
Overview
Cogitate's DigitalEdge Policy- Undewriting Workbench (DEP-UW WB) a digital underwriting platform for InsuTechs, MGAs, Program Administrators & Carriers to enhance productivity of the Underwriters, grow revenues and manage risk better. Clients using DEP-UW WB have benefited within the first 3 to 6 months of going live by managing > 5x the number of submissions and > 3x growth in revenues. The capabilities to integrate with wide variety of data providers for automated submission data pre-fills, valuations and risk clearance with visibility on the entire process from progress on the submission workflow, comparative rating/rating and UW approvals, subjectivities, policy issuance and payment. This is all handled with an excellent user experience across the Distribution and UW value chain coveirng the Retail Agent, Wholesale Broker, MGA and Carrier.
DEP UW WB has an embedded rater with comprehensive LCNC, enabling insurance providers to add new or modify existing products with ease. It includes the ability to add new lines of business or new states modifying the workflows and underwriting rules rapidly without waiting for long release cycles.
DEP UW WB has modeled more than 20+ raters with 10+ Carriers with flexibility for pulling rates from Carriers through APIs for specific coverages. TIV management Quote share, layering of risks for excess/surplus lines and other key features makes DEP UW WB robust and a complete platform Underwriters/Product Portfolio managers/business unit heads.
Powerful Adaptive API of DigitalEdge allows integration with existing Core & Legacy systems, third-party data and service providers as well as multiple carrier raters and systems.
Built-in analytics include dashboards, reports, and extensive analytics capabilities specifically designed for various lines of business.
Key Features
Digital sales and service for insurance
DEP-Rater
DEP-Quote, Bind & Issuance
Adaptive API Integrations
APIs/Integration with Carrier's middleware connected with Core & Legacy Systems
API/Integration with Client and Partner systems
API/Pre-integrated with third-party data providers for Automatic Risk Capture and Data Prefill
Digital Engagement
DEP-Agent/UW Portal
Chatbots
UW AI assistant
Submission Pre-fills with AI
Powerful Low Code / No Code
Built-in Analytics
Key Benefits
- Speed to market
- Go Digital with your existing systems – no overhauling of entire IT infrastructure
- Reduce operational cost by increasing productivity of team and efficiency of processes
- Deliver an exceptional agent/customer experience to build brand loyalty
- Ease of Business for distribution channel partners and customers