Allfinanz, a provider of automated underwriting software solutions to the global life insurance industry, has released a new version of its underwriting rules engine and rules designer products. This release is available for sale immediately in three languages.
Allfinanz Underwriting Rules Engine v4.4 offers advanced rules management features and enhanced ability for flexible questioning. These features are designed to increase STP rates, further reducing costs and policy issue times for life insurance carriers. Additionally, a range of infrastructure improvements will reduce cost of ownership and ease of integration for life insurance carriers.
“This release highlights Allfinanz’s constant innovation on our clients’ behalf” says Paul Donnelly, director of product management and marketing at Allfinanz, “It creates sustained competitive advantage in today’s life insurance industry. Our product adds value in a range of enterprise functions and offers the potential for dramatic increases in life carrier profitability.”
The positive impacts of this new release will be realized throughout the enterprise. The rules engine:
- provides a cost-effective way to target the middle market
- increases straight-through processing rates
- increases insurance agent and independent broker productivity
- focuses underwriters on complex high value cases
- capitalizes on cost efficiencies of doing more business online
- helps identify any rules or business process gaps
- empowers underwriters to make rule changes
- reduces IT costs
- reduces business risk by identifying anti-selection risks
- provides valuable management reporting for enhanced decision making.