Why do insurance companies require an automated underwriting software?
Underwriting is a troublesome process and requires attention to minute details in order to get the tasks completed as per the compliance needs. Insurance companies need to do multiple operations to get the work completed in the given time constraint. Hence, doing the work manually may affect the output.
Advantages of using automated underwriting process
An automated insurance underwriting system may help the insurance companies in many ways:
- It offers better tracking at any moment.
- It improves the workflow.
- Underwriting software allows the use of underwriting resources more effectively.
- It improves consistent decisions.
- It refines products development.
- Underwriting systems can reduce the paper process.
- It also offers better mortality results.
Experience a remarkable growth in insurance sales and get the tasks completed before time with Amity INSURE- a general insurance management software offered by Amity Software. Our general insurance underwriting system enables the companies to access multiple advantages like:
- Fully configurable premium rates and benefits for all products.
- Auto underwriting engine.
- Automatic conversion of quotation to policy.
- Policy endorsements and issuance of policy documents.
- Co-insurance and re-insurance.
Amity INSURE stands up to the expectation and the evolving needs of the insurance companies. Request a demo at: https://amitysoftware.com/solutions/insurance/general-insurance-management/.