Foresters, a life insurance provider, is using Elixir North America’s Policy Administration System (PAS) and New Business & Underwriting (NB&U) solutions, products of MajescoMastek, a provider of insurance systems to over-80 life and P&C carriers.
MajescoMastek says NB&U is a rules-based underwriting application that automates and reduces policy processing cycle times, creates consistency and reduces policy acquisition costs. The deployment of the NB&U solution has helped the carrier reduce the average decision time, for cases in good order, from three days to one day, with 50 percent of cases now processed automatically, without any manual intervention.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access