Automated Underwriting SaaS Platform Drives New Business Acceleration for Insurance Companies
CHICAGO, IL--(Marketwired - Jan 21, 2014) - STEP Solutions Group LLC, a Chicago-based insurance processing software as a service (SaaS) provider, announced today that it launched a newly designed website to promote and educate insurance carriers on the value of its straight-through solution for origination, issue, underwriting, policy administration and claims processing. The new website found at www.stepsolutions.com features a clean, contemporary and mobile responsive design for improved navigation on all devices to promote STEP's comprehensive web-based automation engine for life, accident and health insurance products.
"STEP's straight-through processing is designed to transform our clients' insurance business by bringing their new products to market faster with lower operating cost," comments Don Kane, STEP Solutions' Senior Managing Director. "The newly designed website clearly demonstrates the value that STEP brings to the insurance industry. Our new site features infographics and quantitative-rich case studies that illustrate the responsive and comprehensive format of our web-based origination, policy administration and claims portals."
When optimally implemented, STEP Solutions' automated insurance underwriting platform reduces policy underwriting cycle time from an industry average of 26 days down to a single day. STEP reported that one of its clients, a mid-tier life insurance carrier, saw a 77% close rate on new life policies issued following a successful implementation of the STEP Platform.
About STEP Solutions Group
Since 2008, STEP Solutions Group LLC has enabled state-of-the-art new business acquisition, policy administration and claims processing solutions for life, accident and health insurance companies. STEP's software-as-service (SaaS) platform features a New Business Acceleration Engine to deliver revenue through new business acquisition, which yields the highest return on investment in the shortest period of time. STEP consists of insurance, technical and financial professionals who possess deep expertise in managing large-scale transformation projects for Fortune 50 insurance carriers. STEP's straight-through processing transforms insurance businesses by controlling their expenses, accelerating revenue growth, managing risk and creating flexibly in the client's workflow by eliminating inefficient and costly workarounds. For more information, visit www.stepsolutions.com.