Resonant New Business & Underwriting
Overview
The Resonant New Business & Underwriting solution is a low-code transformational Point of Sale Decision solution that provides automated solutions for managing and controlling the entire underwriting and new business process from simplified issue to fully underwritten complex cases and other lines of business. Unlike today’s traditional process of quoting teaser rates only to find out the final premium after underwriting, Resonant POS Decisioning changes the dynamic so that underwriting is completed at the point of sale. Answers to medical questions are combined with data received from industry leading evidence and predictive model vendors to provide instant decisions with final premium needed to complete the sale in one sitting. Resonant integrates with iPipeline’s Quote, iGO e-application, and DocFast e-delivery automated solutions to manage and control the entire underwriting and new business process from simplified issue to fully underwritten complex cases and other lines of business.
Key Features
- Low-code to maximize carrier controled self-sufficiency
- Combines Workflow, Case Management, iGO/NiGO, Decision Support, compliance, and detailed reporting and analytics
- Enables regulatory control, monitoring and compliance
- Real-time automation of Simplified Issue/Straight-Through Processing programs (SI/STP)
- Fully underwritten decision support
- Complete case management and an expansive underwriter workbench with fully customized User Interfaces
- Out of the box and ready to turn-on integrations with multiple 3rd-party evidence providers
- Supports all Life, Annuity and Health products
Key Benefits
- Superior implementation speed with full system deployment in 90-120 days for your entire product portfolio
- Major deployment cost reduction of at least 65%
- Eliminate expensive process mapping. No process maps to pre-define, maintain and update
- “Real-time” management reporting and a range of analytics for operational, risk management and enterprise-wide data
- Out-of-the-Box automated connectors to all the 3rd party evidence providers and databases
- Powerful modeling capability of guidelines and processes prior to implementation