Underwriting

Insurance underwriters evaluate the risk and exposures of potential clients. They decide how much coverage the client should receive, how much they should pay, or whether to accept the risk at all. Underwriting involves measuring risk exposure and determining the premium needed to insure that risk.

Each insurance company has its own underwriting guidelines. The information used to evaluate risk depends on the type of coverage — driving record for auto, health status for life insurance, and so on. Many insurers use automated underwriting systems to encode these rules and reduce manual work in processing quotations and policy issuance.

What is an Underwriter's Workflow?

DexFLOW manages paperless workflow tasks and processes, providing the ability to retrieve any document at any time. In an underwriting context this could be a policy for an insured, claims history, risk assessments, or any other document needed for review.

How It Works

Policy requests from agents or insureds can be entered via email capture, file pickup, fax, mail scanning by EDS staff, or via the DexFLOW Office plugin. A parcel is created and indexed via OCR, barcode reading, or manually. Configured rules route the parcel based on your company's requirements.

Use Case: New Insured Policy Request

The client or agent submits a proposal form with an accord form detailing their insurance requirements. The system imports, processes, indexes, and routes it to an underwriter. The underwriter reviews the application, asks pertinent questions, identifies risk factors, and — if the insured qualifies — computes the premium according to company rates.

Personally identifiable information (PII) is automatically hidden or redacted based on user security rights.

Key Terminology

• Parcel – holds one or many documents with indexing values throughout the workflow.
• Commit – the final storage step, converting to the preferred file format.
• OCR – reads documents into searchable metadata for automatic indexing.
• Workflow Map – a graphical visual of the entire workflow process.
• ECM – Electronic Content Management throughout the document lifecycle.

The Challenge

Complex multi-step policy evaluation with large volumes of applications, risk data, and regulatory compliance requirements.

The Solution

DexFLOW automates the capture, indexing, and routing of policy requests to the right underwriter, with full document history available instantly.

Results

Faster policy issuance, reduced manual data entry, automatic PII protection, and consistent compliance with underwriting guidelines.