ABOUT PROJECT
A life insurance company Development of an insurance application/automated underwriting system
Automation of application and underwriting process reduces business cost and underwriting days.
BACKGROUND AND PURPOSE
A life insurance company had been accepting applications for insurance products in paper form, and was manually conducting underwriting, notifying underwriting results, and registering the applications into the system.
The company needed to systemize the process from application to underwriting and automatically perform underwriting in order to reduce operational costs and the number of underwriting days.
AsiaQuest, a company that understands business requirements and specializes in developing systems that require high security standards, was assigned to develop the system.
BRAND EXPERIENCE
By converting application forms for insurance products to the Web, the cost of typing documents into the system has been reduced. In addition, the need to exchange documents has been eliminated, and the number of days required for underwriting has been reduced.
The valuation is automated by linking with other systems that have valuation logic through an API. The time lag in appraisal has also been minimized. In addition, by providing a management screen for partner financial institutions in order to support sales by partner financial institutions, it is now possible to notify appraisal results to partner financial institutions without manual intervention by the client company.
OUTLOOK FOR THE FUTURE
In the future, we have a plan to fully automate the process, including systems on the part of partner financial institutions, to achieve faster assessments.
About AsiaQuest, Inc.
AsiaQuest is a "digital integrator" that supports corporate DX. We do not only provide ordinary system integration, but also provide consulting services to help our clients think about DX together, and design, develop, and operate systems that make full use of digital technologies necessary for DX.
We have specialized technology teams in the digital fields of IoT, AI, Cloud, Mobile, Web, and UI/UX, and we can put together the most appropriate project team to achieve the client's goals. We are capable of speedy response from implementation of PoC to verification of effectiveness of business models and technical issues to construction of large scale systems for digitalization.