Comarch Underwriting is profiled in Celent report 2014 EMEA New Business and Underwriting Systems: A Vendor Spectrum. The report reviews new business and automated underwriting systems available to insurers in Europe, the Middle East, and Africa. The report profiles 15 automated new business and underwriting systems for life and annuities products.
Nowadays, business and underwriting systems not only collect data, classify risk and identify underwriting requirements, but also support back office processes and analyze the resulting data. They allow the insurers to cut costs by moving some of its back office processes into the front office, improving their efficiency and profits. Risk assessment, i.e. underwriting is a key process in the insurance business. Due to the complexity of products, this key insurance process requires the IT support. Comarch Underwriting provides the underwriter with a comprehensive tool, supporting each stage of the underwriting process. In 2012 a Belgian insurer Delta Lloyd Life selected Comarch Underwriting to streamline their underwriting processes.
Comarch Underwriting ensures the process automation, which allows the insurer to save time and reduce the risk of errors thanks to automated limit control and complex decision rules. The solution is easily configurable – the insurer can create and modify medical questionnaires, manage required document lists, and above all, create and change rules for automated underwriting. Moreover, the insurer can gather, aggregate, analyze and process data in one place, as well as create comprehensive reports, underlines Mariusz Janczewski, Business Development Manager at Comarch.
Comarch solutions for insurance have been featured in numerous Celent reports in recent years. This year Comarch Insurance Claims was mentioned in Life Claims 2014: A Global Vendor Spectrum among main European insurance claims tools providers.
Celent is a research company specializing in business and technological advisory for financial institutions. The report can be accessed at Celent site.