Allfinanz, an automated underwriting solutions software provider, has released its latest underwriting program, Allfinanz Underwriting Rules Engine v4.4. The latest version is designed to increase straight-through-processing (STP) rates, which the company says will reduce costs and policy issue time. It is currently available in three languages.

“This release highlights Allfinanz’s constant innovation on our clients’ behalf,” said Paul Donnelly, director of product management and marketing at Allfinanz. “The Allfinanz Underwriting Rules Engine v4.4 creates sustained competitive advantage in today’s life insurance industry. Our advanced, life-specific product adds value in a range of enterprise functions, and offers the potential for dramatic increases in life carrier profitability.”

Allfinanz says the new features include:

• Cost-effective means to target the middle market

• Increased STP rates

• Increased insurance agent and independent broker productivity

• Focus for underwriters on complex high value cases

• Capitalization on cost efficiencies of doing more business online

• Help identifying any rules or business process gaps

• Empowerment for underwriters to make rule changes

• Reduction of IT costs

• Reduction of business risk by identifying anti-selection risks

• Valuable management reporting for enhanced decision-making

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