ALIP New Business and Underwriting

From application entry to policy issuance, ALIP New Business and Underwriting provides carriers with the speed, consistency and ecosystem connectivity necessary to cost effectively process and underwrite applications and price policies. The cloud-based solution is comprised of electronic applications, underwriting, case management, workflow, reporting, and work management. The componentized architecture includes modules for new business, product introduction, underwriting, actuarial calculations, agent portal, integrations and product and business configuration workbenches. ALIP NBUW supports policy issuance via straight through processing for the majority of applications by using alternative data sources and GenAI for automated decisioning and work management. By integrating all steps in the NBUW process, ALIP NBUW enables carriers to reduce cost per policy issued, improve speed and efficiency of underwriting decisions, improve customer experience for consumers and agents/producers and accelerate product time to market.

• GenAI underwriting, requirements management and decision support with Case Workbench Underwriting Co-Pilot. Additional GenAI capabilities leveraged with Smart User Guides and a DevOps Co-Pilot and GenAI user interface with ALIP's Customer Portal.

• Deep OOB features, functions, product templates, and APIs for accelerated production roll-out in Cloud and as-a-Service.

• Straight-through processing with simplified issue and fully underwriting capabilities.

• Guided product and business rules engine with pre-built templates and workflows.

• Pre-built, configurable third-party interfaces and API library.

• Intuitive user interfaces with dedicated workbenches for underwriting, case management, configuration and integration.

• Superior technology with open, lightweight, and fully containerized architecture and a base-first enhancement approach with a continuous release model.

• Improved risk assessment with AI-based data analytics

• Digital processes from initial customer engagement to policy delivery and onboarding

• Expanded use of data and business intelligence in lieu of traditional underwriting

• Angular user interface for flexible user preferences and improved productivity

• Automated decision making and reduced cost per policy issued leveraging automated workflows, and seamless interfaces with third party apps and vendors

• Improved underwriting speed, efficiency, and consistency using automation powered by our configurable rules engine render faster underwriting decisions

• Case managers and underwriters productivity increase with consolidated views of the new business process, convenient workbenchs and consistent user interface

• Faster product development using ALIP’s Business Configuration and Product Configuration Workbenches that have preconfigured underwriting processes and workflows that can be easily adapted

• Accelerate integration leveraging out of-the-box interfaces with an extensive library list of third party vendors