Life Group

The Service Level Agreements (SLAs) associated with group insurance coverage for employees and their dependents mandate timely processing for virtually every type of transaction. The bulk nature of these processing requirements places high demands on management and staff to underwrite and support efforts of agents and brokers.

Insurance applications, supporting documentation and data arrive from multiple systems and locations. Critical case file information such as Medical information Bureau records and attending physician statements must be collected and consolidated. Reinsurance applications further complicate and extend the processing time depending on the face value of the policy. Then appropriate staff must review all data within a case file in a timely manner to insure completeness, accuracy and eliminate fraud. Management must also have the ability to check application status during processing with the ability to expedite and prioritize.

Group Life consumers place a high demand for service on insurers, the cycle time with which applications are processed is a key consideration for growing this line of business. There are ultimately many systems involved with providing the necessary data to the Underwriting and Customer Service groups so that risk can be properly assessed and the appropriate coverage identified.

The IPD Solution
An IPD Ultera Individual Life Solution speeds the timeliness and accuracy of processing Individual life applications. Ultera can eliminate paper intensive transactions and automate manual steps in the work process. Ultera underwriting worksheets add efficiency and accuracy to the process by ensuring that all requirements are completed. Underwriters are provided with all relevant information aggregated into one graphical interface for rapid decisions.

Ultera provides:

• Unified work environment provides 30%-50% more productivity and improved customer service
• Online interface with a complete work inventory for underwriting or customer service
• User friendly intelligent graphical user interface (iGUI) that:
• aggregates data for Underwriting, Customer Service and Claims
• view all case file documents and data
• automate and manage the life cycle of case file
• web access for remote brokers and agents
• Comprehensive executive information system (EIS) to track and manage work
• Rapid deployment, and low total-cost-of-ownership (TCO)
• Store, manage and view all documents and data and maintain compliance