A UK disability income insurer sought to streamline its new business process, with an automated underwriting engine forming a key component of the redesigned workflow.
At the outset of the project, SelectX engaged with the underwriting rules engine (URE) provider to understand any technical constraints affecting how rules could be constructed. We then worked with the insurer to develop a detailed underwriting philosophy document to ensure that the requirements of all stakeholders were clearly defined. Establishing this framework is an important step in the development of a robust rule set.
Once the underwriting philosophy had been agreed, SelectX developed a comprehensive set of medical underwriting rules for this complex line of business. Disability income products, particularly those with very short or no waiting periods, often require subtle differences in rule structure depending on the medical condition being assessed.
To support the implementation, we also developed several thousand search terms and constructed several hundred test cases to validate rule behaviour.
As a result, the insurer was able to implement automated underwriting significantly more quickly than would otherwise have been possible, while maintaining its customer-focused service model and short turnaround times.
