Underwriting Rules Engine
Do you want to implement and integrate an Underwriting Rules Engine into your new business systems / process?
The Allfinanz Underwriting Rules Engine is the industry-leading expert underwriting application, allowing underwriting automation at the point-of-sale.
The underwriting rules engine can be supplied with an independent, reinsurer peer-reviewed underwriting rules database from Allfinanz which can be customised to your own philosophy and requirements. Alternatively the system can be supplied with a rules set developed and managed by MunichRe, drawing on their 100 years of experience in risk management.
Features
The Allfinanz Underwriting Rules Engine is now a mature tool enjoying its 10th iteration, which has resulted in finely tuned features to enhance the systems productivity. The evolution of the system has been guided by the qualitative input of many underwriters over the duration of many years.
The features of the URE are designed to ensure practical usability and empower the licensee without dependence on Allfinanz. The administrator has the ability to dynamically introduce and change details on the system such company specific terms, lists, options, and decision-types like exclusions, requirement types, and risk types. A beneficial feature is that these data rules can be configured and changed without code changes in the Rules Engine.
Some of the URE features are designed to ensure practical usability such as editing functionality like 'drag and drop'; 'cut and paste '; 'spell checker'; as well as advanced search options and comprehensive rules regarding document management.
Business users can also affect changes to the URE rules books which are supported per deployment. For example multiple rule sets and configurations are supported per deployment such as multi-lingualism, multiple territories or channels. The system can therefore switch between languages as required.
The URE offers major advances over its competitors as it powerfully cross references the risk associated with inter-related disclosures. The Rules Engine therefore behaves more like a human underwriter than a cleverly devised system for simply underwriting risk.
Benefits
As an independent software vendor, Allfinanz has invested significantly in the product development of the Underwriting Rules Engine in order to bring its customers a world class product and service.
The Allfinanz Underwriting Rules Engine delivers multiple working efficiencies and benefits, for example:
The URE is simply assimilated into your system through a soft system to system interface that is driven by a data dictionary. A configurable user interface is provided by Allfinanz which ensures ease of integration and empowers your business with superior underwriting processes.
Any significant developments facing your business such as operational changes, new territories, additional languages, new rule sets, broader product ranges and additional channels are all easily included with limited Allfinanz engagement.
One deployment of the URE facilitates multiple underwriting rule-bases, which accommodates myriad territories, products and channels.
The URE tool is considered to be superior technology by multiple high profile clients of Allfinanz, such as HSBC Life, and its interface usability is proven to be intuitive and simple to use. Due to the fact that the software is deployed rapidly your business can benefit from this powerful engine through its simple integration with your current systems.