How many hours do your employees spend looking for important underwriting or policy information each week? If they’re like most knowledge workers, the answer is more than seven hours a week. That puts a heavy strain on both productivity and customer service.
Lexmark’s Underwriting and Policy Administration solutions can help. Our Underwriting and Policy Administration solutions streamline the business-critical First Mile™ of new business underwriting by automating inbound document capture and data extraction to intuitively manage new requests while simultaneously enforcing underwriting standards and risk in real time. It removes the need for error-prone manual data entry and tracks applications for accuracy and completeness.
Lexmark solutions enable insurers to implement a powerful straight-through processing model to optimize throughput, contain costs, and improve customer service and responsiveness. Our Underwriting and Policy Administration process improvement solution captures documents and links them to applicant files electronically. The files are then automatically routed to the appropriate underwriters, new business representatives and other associates for immediate action. By providing underwriters with fast and efficient access to critical information and comprehensive risk analysis, Lexmark turns this traditionally slow, paper-intensive process into a collaborative process — lifting underwriter productivity while growing market share and profitability.
Simplify and speed up the underwriting process from application to issue with intuitive processes that integrate with existing systems to put business on the books faster and efficiently.
Leverage a 360-degree view of every policyholder and enhance decision-making to recommend the best offer based on the policyholder’s unique needs and risk profile.
Utilize best practices to guide agents, customer service representatives and self-service customers through offers and applications to speed processing and close more business.
Facilitate cross-organization collaboration among underwriters, as well as agents, through shared access to all relevant policyholder data throughout the lifecycle of cases.
Electronic gathering of clear, accurate underwriting statistics makes it easier to optimize business processes to agreed Service Level Agreements.