Decision Intelligence for Insurance
Operationalize decisions across underwriting, pricing, and claims to launch faster, reduce churn, and improve profitability
We are able to make new products implementation in days not weeks or months. So this is a dramatic difference. Or adjust to the market in a really, really short time, I mean hours.
Make Explainable, Transparent Business Decisions Across the Insurance Value Chain
Personalized Insurance Engagement at Scale
Design Next-Best-Action (NBA), Offer (NBO), and Interaction (NBI) strategies to drive outcome-based insurance decisions. Use AI-powered arbitration and business rules to personalize engagement across channels in real time. Ensure ROI, compliance, and transparency with DMN (Decision Model and Notation) models at Conformance Level 3.
Underwriting
Automating underwriting decisions enables insurers to ask the right questions at the right time, accurately assess risk factors, and support straight-through processing by applying configurable business rules.
Claims
Streamline the claims process for faster, more accurate, and consistent claim adjudication, verification, and settlement. Save time, reduce errors, increase customer satisfaction, and improve key business metrics such as claim ratio, full-time equivalents (FTE), and cost per claim (CPC).
Eligibility
Eligibility heavily relies on business rules that span various stages of the insurance lifecycle, from underwriting to claims, retention, and customer service. It is a complex use case due to the variety of insurance products and plans, evolving regulations and guidelines, and reliance on numerous factors and permutations.
Discount
Define, model, and execute a consistent discount strategy across all channels, based on criteria such as risk, customer loyalty, vulnerable customer programs, and distribution channels, without requiring changes to application code.
Pricing & Rating
Ensure the accuracy of pricing algorithms to maintain a profitable balance between risk and acceptance rate. Model, test, execute, and deploy pricing strategies without changing application code or relying on IT.
Policy Renewal
Automate renewal processes, eliminate manual tasks, and ensure that pricing, discount, and underwriting rules are consistently and accurately applied at every stage of the case.
Compliance and Audit
Ensure underwriting, pricing, and rating rules are consistently applied across all cases. Gain full explainability and traceability of decision outcomes to meet regulatory requirements and maintain transparency.
Customer Experience
Improve customer experience by: (a) requesting the right forms and documents at the right time, without multiple round trips; (b) presenting the right information and offers to the right customer, at the right time, on the right channel; and (c) ensuring consistency in quotes, pricing, discounts, and underwriting across all channels.
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Alternatives to Insurance’s legacy and point solutions
Learn about pros and cons of the alternatives.
Governed, Situation-aware, and Open
Why Decision Intelligence for Insurance
Our unified and easy-to-use platform enables non-technical and technical users, domain experts, and operations to create, modify, debug, test and deploy decisions at scale without requiring any coding or programming skills.
Whitepaper
Automate Insurance Underwriting without Draining it Resources
Video
Calculation of the Eligibility score for Car insurance
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It stands out for its all-in-one decision and automation tools, capability to chain decisions together (“Decision Graphs”), create long-running decisions, where parts of decision logic allow for some other process to respond to a request asynchronously, and create semi-automated decisions, where human intervention may be necessary at any point.
Manage and Automate Your Insurance Business Decisions End-to-End
To speed up adapting to changes related to business decisions, leaders in Operations, Business, and IT need a better way to manage change.
FlexRule supports our Decision-Centric Approach®, a methodology that brings people, rules, data, and processes together to ensure organizations can consistently make optimized, customer-centric, and situation-aware business decisions while they meet the objectives on revenue, costs, and mitigating risks.
The platform brings Business Rules, Data, Machine Learning and Orchestration together to ensure you have frictionless experience managing and automating business decisions across the insurance value chain.
1 day
Go Live with Business
Decisions & Rules
71 %
Decrease Costs of change in
Business Decisions & Rules by
80 %
Increase the Team
Productivity by
FlexRule far exceeds the industry competitors in all things decision making.
The main benefit is sharpening our time to market when introducing a new product or changing existing products.
