Complexity is a necessary evil (or is it?)
In underwriting, complexity allows us to make better decisions. Niche
questions drive to the heart of the matter: Is your applicant a risk?
How much of a risk? The more detail you capture, the more you know. The
more you know, the less you risk.
Information is still power
It’s the detail that has become a drag on the process. AURA (Automated
Underwriting and Risk Analysis) restores efficiency to underwriting by
transforming random streams of detail into usable data. It releases
time-conscious agents and underwriters from the heavy burden of
information gathering. It imposes order on the process and makes
complexity manageable.
AURA software automates decisions to produce quick, consistent results
Agents submit a simple, one-page application and forward it on to the
insurer using any transmission format. Instead of ordering tests and
collecting histories, they spend their time making sales.
AURA Front Office
Underwriters or call center Tele-Interviewers use AURA Front Office to
get applications through the underwriting process. Application scripts
and reflexive questionnaires are guided by the comprehensive AURA rules
engine.
The
new business department employs the Underwriting Workbench to track
case details such as requirements, outstanding work items, notes, final
decisions, reinsurance details, follow-ups and more.
AURA Back Office
AURA Back Office is a JAVA-distributed application that provides a
framework for Call Center and underwriter workflow activities. It is
dependent on AURA Front Office and is used to calculate underwriting
recommendations based on scripts and evidence provided.
Management Information
Management has its own application that generates end user reports
based on all levels of AURA activity. Managers have access to a
complete set of historical information, relevant demographics, pricing
and actuarial information, call center metrics, and other data. Even
non-technical managers can customize and run their own reports and
create automated report scheduling and delivery. RGA's recent integration of the Business Objects platform has
further enhanced the reporting capabilities, making it easier than ever
for insurers to learn and adapt.