Faster and better underwriting decisions through automation
Underwriting automation
Turn Challenges Into Lasting Impact
Underwriting automation that holistically improves the insurance proposition
Life and health insurers must reduce costs to remain competitive while delivering top-tier service. Underwriters face challenges such as complex onboarding, inefficient workflows, and balancing profit margins with societal impacts. They often encounter delays and frustration due to cumbersome paperwork and inconsistent data.
With digital solutions
Faster and sharper risk decisions turned into lasting impact
Velogica delivers instant risk assessments for underwriting, enabling a faster, more seamless customer experience while driving sales. Effortlessly integrating into the acquisition process, Velogica supports diverse products, complex and simple rulesets, and multiple completion methods to handle every case with precision throughout its lifecycle, enabling quick decisions and high acceptance rates.
Realise lasting impact
Experience next-level underwriting automation with lightning-fast decisions
Product Modules
Your hub for underwriting automation
Maximize underwriting efficiency with our comprehensive, flexible modules and end-to-end solutions. Velogica offers insurers optimal customization, with various modules that can be used together or alone. Our solutions seamlessly integrate with your existing systems and workflows to enhance underwriting efficiency.
Underwriting Rules Engine
- Integrated with intelligent calculators and predictive models.
- Dynamic risk questionnaires for tailored underwriting outcomes.
- High straight-through processing rate for immediate results.
- User-friendly and secure online interface for applicants.
- Underpinned by SCOR’s research and extensive expertise
Underwriting Portal
- Supports agents, advisers, bank partners, brokers, and direct-to-consumer channels.
- Intuitive dashboard for creating and monitoring cases.
- Enhanced security with multi-factor authentication and e-signature capabilities.
- Email reminders and quick evidence upload for smooth processes.
- Streamlined operations and expanded reach.
- Modular design integrates seamlessly with any client setup or purchasing flow.
Underwriting Analytics & Reporting
- Optimizes underwriting using data, predictive models, and advanced analytics.
- Tailors product offers and predicts risk categories for quicker decision-making.
- Provides tools for precise performance management and customer behavior analysis.
- Enhances portfolio quality and manages risk profiles effectively.
- Identifies improvement areas to optimize conversion rates and compares business trends with future estimates for informed decision-making.
Ready for Next-Gen AI Enhanced Underwriting
Velogica combines SCOR’s Life and Health underwriting expertise with SCOR Digital Solutions’ advanced tech, leveraging Gen AI to pioneer visionary risk decisions and deliver seamless experiences for customers, advisers, and underwriters. We are committed to transforming the industry by making underwriting faster, more accurate, and customer friendly.
Benefits of underwriting automation
Significant Cost Reduction
- Automate multiple aspects of underwriting to cut costs.
- Reduce operational expenses significantly.
- Maintain high standards of accuracy and efficiency.
- Achieve reduced administrative costs and increased efficiencies.
Exceptional Efficiency & Risk Control
- Streamline underwriting processes for maximum efficiency.
- Accelerate policy issuance to meet customer demands swiftly.
- Minimize manual intervention, saving time and reducing errors.
- Ensure error reduction with centralized documentation.
Precise Customization
- Customize processes to align with local market needs.
- Guarantee compliance with all regulatory standards.
- Adapt seamlessly to specific market requirements.
Seamless Customer Experience
- Integrate both medical and non-medical data effortlessly.
- Leverages behavioural economics principles to optimise disclosure quality and enhance risk selection.
- Ensure a smooth and efficient customer journey.
- Boost overall customer satisfaction with streamlined processes.
Advanced Data Analytics
- Empower users to measure, manage, and analyze performance effortlessly.
- Leverage advanced analytics to ensure a smooth and efficient performance journey.
- Boost overall satisfaction with comprehensive analysis and streamlined processes.
Robust Integration
- Connect effortlessly with various electronic services.
- Integrate smoothly with data analytics platforms.
- Support a complete digital purchase pathway.
- Scalable integration with OCR, Chatbot, and scoring.
TRUST AND SECURITY – OUR PROMISE TO YOU
At SCOR Digital Solutions, your trust is paramount. In today’s digital world, we integrate top-tier security into every aspect of our operations. Using advanced encryption, conducting regular audits, maintaining 24/7 monitoring, and implementing real-time threat detection, we ensure your data’s safety with the highest level of protection and transparency.
Customer trust
The challenge isn’t just speed, it’s maintaining risk discipline at scale. Velogica delivers both: fast decisions and consistent, high-quality underwriting.
Debbie Bolton,
Head of Automated Underwriting Strategy
Our underwriting product is designed to simplify complex processes and deliver unparalleled accuracy. By integrating data analytics and intuitive questionnaires, we ensure a seamless and efficient risk assessment experience. Our commitment to innovation guarantees that our clients can take advantage of the most reliable and advanced tools available.
Esther Sherman,
Automated Underwriting Manager
READY FOR
DIGITAL SOLUTIONS?
We operate worldwide with dedicated teams that you can reach directly.