New Business / Underwriting

Cycle time is a key differentiator for Insurance companies during the New Business / Underwriting process. Many tasks in the New Business and Underwriting process are needed to develop an application. And when it comes to special or exception handling, additional delays in processing can mount. Winning or losing New Business can come down to the time to move a policy from application to issue.

The IPD Solution
Ultera is designed to improve New Business processes for health, life, disability and P&C carriers. Using Ultera, carriers can streamline tasks by means of automation and technology. Ultera provides a comprehensive, configurable business application that can significantly improve and simplify every day challenges such as workload management, workflow configuration, work search, inventory and productivity control.

As an out-of-the-box application, Ultera addresses New Business challenges through the use of configurable modules that adapt to the company’s business needs.

Ultera’s work distribution and process flow rules eliminate the time required to manually distribute claims. The distribution module intelligently routes claims to the right team at the right time. Ultera auditing functionality and audit trails help quality teams ensure that the work was completed accurately.

Ultera worksheets combine data from different systems into one location for at-a-glance decision-making. Process flow rules provide the ability to update work with instructions for processing and deposit into task-specific queues. Ultera also provides a history with detailed accounts of the steps that have been taken on items.

Ultera’s Attachment Handler automatically links trailing documents to applications using configurable rules. It will automatically alert when trailing documents arrive, and can automatically trigger a follow-up notice if trailing documents are late.