ALIP New Business and Underwriting
Tomorrow’s new business opportunities start with today’s digital strategies. Deliver more—choices, channels, faster decisions—profitably.
Why ALIP New Business and Underwriting
Key features
- GenAI-powered underwriting and case management
- Full application life cycle management
- Electronic / paper applications
- Real-time data validation
- Automated decision engine
- Consolidated workbench views
- Extensive list of third-party integrations
- Work orchestration
- Document management
- Cost-effective and quick to deploy SaaS models
Electronic applications
- Receive applications and images from external portals via an ACORD transaction
- Web-based UI with reflexive questions presented dynamically, populates and generates completed new business forms for signature
- Electronic signature, digital form and pen integration, in addition to industry standard signature tablets
- Seamless underwriting integration
Automated underwriting
- GenAI Co-pilot automates underwriting decisions from simplified to complex iterative analysis
- Pre-populated and configurable underwriting guidelines and rules
- Iteratively evaluates application data and evidence with a series of underwriting decisions
- Automatically assign risk and ratings
Case management
- GenAI Co-pilot summarizes case status and data across all sources within a single user experience
- Flexible rules automatically assign cases, and when work is required, generate and deliver tasks to assigned user/team
- Facilitates data validation and complex tasks related to case administration
- Role-based security
- Complete audit history of changes
Case workbench
- Consolidates and maintains case data in one place
- Alerts to an underwriter for application data or evidence that it’s out of bounds
- Configure user rights to permission which sections within the Workbench users can view
- Configure which data to display in each section within the Workbench
Requirements management
- Out-of-the-box-ready ACORD interfaces to third-party providers further streamlines and automates the underwriting process
- Automated requirements orders and workflow matching and follow-up
- State-specific and other custom requirements forms
- Reporting and analytics for enhanced requirements management
Business configuration workbench
- Automate requirement orders, electronically evaluate requirement results, and continually adapt processes
- Easily configure business rules and workflow, and define user conditions and actions
- Supports “instant-issue” underwriting decisions or recommends underwriter review
- Easily create web pages without a web developer or programmer
Product configuration workbench
- Out-of-the-box-ready product templates—preconfigured and production tested—accelerate product introduction
- Preconfigured rules around new product features, riders and benefits easily adapt to your underwriting preference
Third-party integrations
- Integration with RGA’s AURA underwriting rules engine, making ALIP the first such platform to provide an out-of-the-box option
- Extensive library of prebuilt interfaces with third-party vendors accelerates integration, further automating and streamlining the underwriting process