Using OnBase for underwriting, insurers are able to increase profitability through accurate and consistent underwriting decisions while decreasing response times and costs associated with claims. An underwriter’s number one goal is to write profitable business for the company. When it is a challenge for underwriters to not only obtain the information necessary but also to ensure that they're reviewing accurate data, this is a difficult goal to meet. Underwriting review must be thorough, but decisions must be made quickly.
OnBase provides a 360-degree view of a client's policy or claim and because OnBase integrates with line of business applications, underwriters access the information from within a single interface.
OnBase dramatically decreases processing time. Parallel processing and the automation of the business process allow some of our P&C customers to increase their new business daily capacity by 280 percent. And, with an automated approach to monitor service level agreements and production levels, underwriting managers spend their time more effectively.
OnBase assists insurance companies maintain internal controls in the complex environments made more difficult by high-volume production. The OnBase New Business Processing solution helps manage the underwriter's time, positively impacting the carrier's capacity.