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Infosys McCamish New Business & Underwriting Solution

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Overview

Infosys McCamish New Business and Underwriting Platform delivers state-of-the-art new business and Underwriting solutions to its customers. Our software as a service (SaaS) can transform your Life & Annuity , Accident and Health Insurance business by controlling expenses, accelerating revenue growth, managing risk and creating flexibility in your workflow that eliminates inefficient workaround.

Key Features

Infosys McCamish New Business and Underwriting Platform capabilities includes -

  • E-App and New Business Fulfillment
    • Multi-Channel New Business Acquisition through Direct to Consumer, Agent Assisted and Traditional Paper Applications
    • Accord, DTCC and Custom 3rd Party Integration
    • Native E-App
    • Integrated Reflexive Questions and Product Templates
    • Configurable Forms Builder
    • Access to State Regulated New Business Forms library for Annuities
    • Trigger and capture e-Signature
  • Case Management
    • Automated Workflow including task based Workflow with Automatic Work Allocation
    • Ability for Parallel Processing of a Case to improve operational efficiency
    • IGO NIGO Checks and Follow-up
    • Manage Case Requirements and Auto-Request from 3rd party evidence providers
    • Suitability Questionnaire
    • Out of the box Integration with internal Automatic Rules Engine
    • Integration with external Underwriting & Reinsurance Solutions
    • Out of the box Reports to track SLA Adherence and Operations Management. Custom Analytics.
    • Available Product template library for quick configuration and product launch
    • Integration with Agent Portal
    • Out of th box integration with OFAC & Smarty Street Address Lookup
    • Data Visualization enhancements to provide deeper insights for Case managers and Underwriters
    • Observability Stack using Open Telemetry for Faster Issue Resolution (MTTR) and Enhanced Visibility
  • Underwriting and Suitability
    • Low Touch Simplified Underwriting – Decision in Seconds
    • Full Underwriting with 3rd Party Evidence on Underwriting Workbench, Reconciliation of Impairment with external Evidence
    • Financial Underwriting
    • Suitability Analysis and Scoring
    • Automated Decisioning and Rate Recommendation by Internal Automated Rules Engine – Consistent Underwriting Decision.
    • API Microservices enabled interface for 3rd Party Underwriting Rules Engine integration
    • 3rd Party Underwrting Integration with RGA
    • Configuration of Rules as per Underwriting Guideline, Reusability
    • Multitiered Decisioning and Weightage
    • Creation of Risk Groups for rapid configuration, Workflows, automatic Work Distribution
    • Decision analysis console for historic review Reinsurer Independent
    • Integration with Agent Portal
    • Out of the box integration with 3rd party evidence providers for MIB, MVR, Rx, OFAC, etc

Key Benefits

Infosys McCamish quotes and recommends products based on the customer’s lifestyle, financial state, and unique requirements, using digital portals and intuitive workbenches that drive business outcomes through a personalized experience. Integrated intelligent workflow supports full or partial automation of underwriting cases, which reduces cost and time-to-decision, and greatly speeds up policy issuance and assures consistent rating.

The platform, which supports cloud-native microservices for flexible deployment options, is also fully integrated with ACORD Industry standards, external origination systems, as well as data and evidence providers such as MIB (Medical Information Bureau), MVR (Motor Vehicle Report), Rx (Prescription) and Credit Agencies in compliance with all the relevant state laws and other regulatory bodies in North America. Once deployed, the platform shortens the time to process a case from days, to a few minutes or hours.

Key Differentiators are:

Greater Efficiency

  • Multi Platform Integration via ACORD, DTCC, XML
  • New Business Operations Configurable Case Management Provides Maximum Flexibility
  • Underwriter / Actuary Rules Configuration through intuitive user interface

Consistent Decision

  • Realtime UW Guidance and visualization of risk (Decision Tree)
  • Rules Engine Agnostic with Integrated Visualizations

Simplify the Complex

  • Effective Management of Cross-morbidity rules​
  • Identification and Resolution of Bottlenecks = Reduced Friction
  • Real-Time Connection of Front and Back Office to the Middle Office​

Product/Service details

SOLUTION OR SERVICE TYPE
New Business and Underwriting Systems - Life / Annuity Insurance
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