Alula offers Life Insurers the opportunity to re-imagine their underwriting process by transforming it into an automated and real-time experience.
The real-time insurance underwriting system enables simultaneous use of multiple data sources for decision-making. It incorporates straight-through processing and ensures data security and compliance with privacy regulations. The system leverages real-time insights from experts and provides APIs for data distribution and Health Score dissemination. It offers flexibility for integrating diverse data sources and connecting with new workflows while integrating with existing underwriting models.
The Smart Underwriting solution provides insurers with the intelligent automation of the insurance underwriting process by securely integrating the relevant internal and external data used for underwriting and enabling automated decisions.
It is a cost effective and scalable platform that allows for:
The below illustrates the automation process, highlighting the automated processes. Improve the speed, quality, and cost of gathering patient-centric data and enable a digital underwriting model. Combined with the Alula AI and automation expertise, insurers can garner real-time insights from multiple experts such as underwriters, compliance, legal and effortlessly apply those views to all new applications or changes to existing cover.