GENIEBIX

NBUW Solutions

Smart Insurtech Solutions

New Business and Underwriting

New business processing and underwriting of Life insurance application is time consuming and complicated requiring several stops for manual verification and human interventions. By applying Robotics Process Automation, GeniEbix based solutions can take over functions such as data entry of application from scanned applications forms, performing suitability verification, quality checks, follow-up with agents, order and review requirements, summarize and document risks etc. in addition to providing initial risk assessment and probability of approval of the application.

Natural Language Support

GeniEbix digital assistants will allow Case managers and Underwriters to interact with the system using natural language format. Ebix believes GeniEbix will revolutionize the way the users will interact with business applications and reliance on form based user interaction will likely be reduced and replaced with human-like interactions. This would make it easier for users to learn and work with the business application and considerably reduce the effort involved in training and onboarding staff.

Risk Analysis

Use of Predictive analytics can significantly improve the accuracy of insurance underwriting and take risk predictions to the next level. With increased availability of data on Individuals, using traditional methods of underwriting is no longer an option considering the amount of data that needs to be shifted for determining risk. GeniEbix helps funnel data available from across the industry towards making risk predictions while also harnessing historical data available in-house to provide underwriting trends and insights that are relevant to the application. By combining strong risk prediction algorithms and data visualization techniques, GeniEbix can truly make the process of underwriting risks quick and efficient.