Today’s insurers are challenged to create acquisition and underwriting processes that quickly convert prospects into customers, while closely managing risks and adhering to corporate and regulatory requirements. Major insurers worldwide turn to Pegasystems for insurance underwriting software that helps them to manage these challenges effectively and efficiently. The recognized market leader in business process management and CRM solutions, Pegasystems provides insurance underwriting software solutions that streamline and optimize the customer on-boarding process, to the benefit of both the insurer and the customers.
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Pega Underwriting for Insurance
Pega’s underwriting application is designed to help carriers improve their underwriting quality and consistency, reduce operating expenses, and capitalize on new market opportunities.
End-to-end insurance underwriting software solutions
Leveraging the industry-best Pega business process management platform, Pega insurance software solutions enable insurers to quickly and easily deploy intelligent automated processes that drive efficiency, consistency, and compliance across the enterprise. With insurance underwriting software from Pegasystems, your organization can:
- Win customers with simplified applications that make acquiring insurance fast and easy.
- Reduce application processing and quote turn-around times.
- Build insurance underwriting rules directly into automated processes, reducing the need for interpretation and increasing consistency and compliance.
- Increase the efficiency and productivity of underwriting support staff.
- Increase the ability of underwriting managers to shape policy, and to push policies to the front office in the form of rule-driven automated applications.
- Quickly change underwriting rules to keep up with changes in business objectives, market conditions, or regulatory requirements.
- Generate reports, analytics, and simulations to continuously improve underwriting policies.
Pega insurance underwriting software customers have achieved dramatic efficiency gains, such as the major carrier that reduced their underwriting and policy issue time from two days to two hours. Another organization using Pega insurance underwriting software reduced its policy application, quote, and bind cycle from 14 days to 14 minutes.
In addition to insurance underwriting software, the Pega business process management platform powers claims processing software and other types of insurance administration software. Organizations using our insurance claims software and other solutions consistently report significant gains in the efficiency and agility of their operations.