Go for Faster, Smarter, and More Accurate Automated Insurance Underwriting
Insurance underwriting can be complex and time-consuming, coming in the way of insurers delivering modern agent-customer experiences that are fast and self-serving. Manual underwriting processes can lead to a higher rate of errors and ultimately impact profitability. Embrace automated insurance underwriting that streamlines the process with improved accuracy.
Business Benefits
Aspire Systems provides end-to-end underwriting automation to streamline the process, enhance customer experience and thereby increase sales. Through automated underwriting, you get
- Price risk more competitively
- Increased accuracy in underwriting decisions
- 90% increase in straight-through processing
- Reduce time taken for underwriting evaluation
- 90% automated underwriting decisions
- 50% increase in policy conversion
- Application approval in less than 5 mins
- Reduced turnaround time for policy issuance
How We Can Help You
You can pick from our wide range of underwriting automation services to meet your specific needs. Our team of experts will also work with you to design a custom solution that fits your unique requirements. Here are just a few of the ways we can help with
Analytics & rating engine
Get scalable analytics and a rating engine with smart decision-making capability that enables multiple rules creation, rules testing, approvals, auditing, and so on.
Document processing automation
Use deep learning and multiple ML models to extract data from across sources and formats. You save time, skip manual data entry, and reduce errors.
AI-based risk analysis
Machine learning algorithms can automatically analyze risk, identify potential fraud, and help you identify and process applications faster.
Underwriting decisions & insights
Automate all decision-making, risk assessment, application approval or rejections in less time, with fewer resources required.
Complex decisions? This insurer now makes them in seconds, see how!
We developed a scalable underwriting decision engine (UDE) with smart decision-making capabilities deployed on AWS. This resulted in 97% automated underwriting decisions, a 76% reduction in costs, a 40% increase in productivity, and a decrease in customer drop-off rates.
Why Choose Aspire?
Pick from a wide range of claims automation services or work with our team of experts to find a custom solution that fits your unique requirements. Here are just a few of the ways we can help with
One-stop shop
An intuitive underwriting platform to manage various products, distributors and respective rule guidelines
Automated, Error-Free Setup
Ability to manage various complex system logics and calculations with zero errors & less manual intervention
Flexibility & Scalability
Customizable, configurable and scalable platform for futuristic needs
Audits & Reports
Provide complete visibility and adherence to auditing requirements with strong reporting capabilities
Revenue Forecast & Analytics
Visibility of the revenue forecast and other analytical insights
Ease of Use & Better Control
Have complete control over the products, distributors, rules, etc., and the ability to manage the financial regulations
Streamline your underwriting processes with our solutions
Trusted by Today's Top Brands
Customer Testimonial
End-to-end portal development in short time
Aspire Systems has helped our team launch the redesigned Agent Portal in an astonishingly short period of time, and with continuous improvements ever since. While driving their own work, they worked collaboratively with other teams at our business to coordinate designs and dependencies, to ensure the successful launch and subsequent updates. We are now working (with Aspire Systems) to re-launch our Client Portal in the first half of this year.
Oleg Gurvits
Customer Testimonial
Guidewire on Aspire's testing services
Customer Testimonial
IT Director
Customer Testimonial
Guidewire on Aspire's testing services
Slash underwriting time dramatically with automation & watch conversions soar