Axe

If an insurance application does not fit within the pre-defined rules for a cleanskin, allowing it to be processed and the policy issued without manual intervention, it is referred to an underwriter. To access the details of the insurance application, Axelerator provides an Underwriting Workbench, through which the assigned underwriter can see all the details associated with the application. They can then determine whether to apply loadings and/or exclusions to allow the policy to be issued, or they can choose to reject the application.

As a part of the working model of the Axelerator Life New Business software, we provide a base set of underwriting rules that can be used as a starting point for rapid development of your own tailored electronic underwriting rules.

If you have a pre-existing set of underwriting rules these can be converted into an Axelerator compatible format. We have also worked with other industry standard underwriting rules providers to convert their rules into Axelerator compatible formats as required by our clients.

Rules can be set up to define the levels of approval for each individual underwriter or group of underwriters in the system. This allows the system to automatically determine to whom to allocate each referred underwriting case to for review and further action. It also simplifies the training process for new underwriters.