Initial Rule Sets for a Leading Reinsurer and Global Technology Provider
SelectX supported two organisations with the development of initial rule sets and knowledge bases for automated underwriting engines, each with different objectives and implementation environments.
In projects of this type, SelectX begins by developing a base underwriting philosophy to underpin the rule framework. This ensures that the requirements of all stakeholders are clearly defined before rule development begins. Establishing this foundation helps avoid the need for significant rule reworking later in the project.
For a leading reinsurer, SelectX populated its underwriting engine with a comprehensive set of primarily medical rules covering life insurance, critical illness, disability benefits and medical insurance. This enabled the reinsurer to deploy its automated underwriting capability rapidly across several markets in Asia.
A global technology and process transformation provider commissioned SelectX to develop a complete underwriting knowledge base for its engine as part of its expansion into underwriting automation in the US market. The work included a structured set of medical and non-medical rules, a comprehensive library of search terms, and an initial pack of test scenarios.
Working in collaboration with our strategic partner CumPane Solutions, the rule framework was extended to cover a wide range of risk factors, including rules incorporating external data sources such as driving records and prescription histories.
