vUnderwrite partly or fully automates the medical underwriting process for insurance providers to help you speed up decisions while managing risk.
What is vUnderwrite?
vUnderwrite uses automation to reduce the cost and time of medical underwriting
We designed vUnderwrite to speed up the underwriting process for life and income protection insurance. By setting the criteria against which applicants are assessed and the rules for acceptance, you can automate all but the most complex decisions. This enables you to manage risk effectively while reducing administrative and underwriting time.
Features & Benefits
Complete control of assessment criteria
vUnderwrite gives insurance companies complete control of the underwriting process, using automation to evaluate applicants against your company's chosen criteria.
You can create unlimited medical questionnaires to support all your life and income protection products. You can manage the exact criteria for each one, make changes whenever they choose based on internal or external factors, and add new products at any time. Applicants are then accepted or declined based on rules which you specify, giving you full control of risk. This means that your underwriters are only required for the most complex cases, increasing the turn-around time of applications. Insurance premiums are also set automatically, further speeding up the process.
With vUnderwrite all activity can be viewed on a user-friendly dashboard, making it easy to keep track of all aspects of the underwriting process. Underwriting data can be automatically transferred into the policy administration system, reducing administration time. The system also provides automated communication with applicants.
Control access for users and IFAs
vUnderwrite enables you to set individual user access levels, so you can enable them view just their own cases, those for the staff they manage, or all the cases submitted by their organisation. You can also provide access to IFAs, enabling them to view and manage cases belonging to their firm.
Branded online presence
vUnderwrite enables you and your clients to have an online presence, extending your reach and visibility and hence helping you to grow your business.
Rapid business growth at insurance company
Implementing vQuote in conjunction with vUnderwrite enabled one of our clients to generate 734,000 quotes in one month for income protection insurance and receive over 500 new business applications. By integrating vQuote with the key insurance quote portals and their own website, they have been able to extend their reach and significantly increase their presence in a very competitive marketplace.