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Risk Entry

Data entry and accuracy are critical aspects of the underwriting process. Many enterprises neglect focus on core operational requirements, instrumental in making sound go/no-go decisions. Processes might permit missing and significant backlogs of risk entries as brokers chase more business. They may lack clear-cut documentation on acceptable underwriting parameters. This leads to costly underwriting risks and delays in processing of rules-approved applications.

NIIT Technologies helps insurers eliminate underwriting risks and operationalize risk entry through clearly defined and implemented processes. Our policy administration, Navigator, clearly details our clients’ underwriting instructions. Navigator allows offshore associates to enter policy information supplied by clients’ underwriters and brokers in the form of scanned image slips, front sheets, and endorsements.

Key Features

  • New Business
    • Data management
    • Quotes
    • Premium calculation
       
  • Policy Setup
    • Underwriting
    • Underwriting support
    • Verification/Validation
    • Premium calculation
    • New business rating
       
  • Policy Changes
    • Name / Owner / Address Changes
    • Adjustments / Endorsements / Rider and Coverage Changes
    • Renewals and quotes
    • Cancellations
       
  • Support Services
    • NIIT Technologies’ underwriting instruction and data entry application

Business Benefits

  • Reduced average turnaround time
  • Decreased onshore query escalations
  • Increased FTE productivity
  • Reduced training period – from six months to two months
  • Increased volume of transactions handled
  • >98% SLA quality from inception of engagement
  • Meets 100% turnaround time for SLAs after steady state