ALIP New Business and Underwriting

Tomorrow’s new business opportunities start with today’s digital strategies. Deliver more—choices, channels, faster decisions—profitably.

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AI-led life insurance

Reimagined with intelligent underwriting
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Your engine for continuous innovation

Customer experience has never been more critical to your business—and consumers’ expectations have never been higher when it comes to:

  • Personalized products and services
  • Speed and ease of buying
  • Relevant advice and better deals
  • Exam-free policies
  • Seamless experiences across digital or physical channels

ALIP New Business and Underwriting advances your ability to attract and engage customers with simple, digital buying experiences. Manual processing and 3-month underwriting are a thing of the past for industry leaders. And new sources of data from medical records to wearables are driving new levels of risk assurance and profitability.

From direct-to-consumer to producer-initiated models, and from guaranteed or simplified issue to fully underwritten applications, ALIP provides full automation and real-time data validation. You’ll launch new products, process applications, automate underwriting and issue policies with speed and efficiency that satisfies today’s range of consumers.

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Winner of two XCelent Awards in 2020 in the "Advanced Technology" and "Breadth of Functionality" categories

Why ALIP New Business and Underwriting?

Key features

  • Full application life cycle management
  • Electronic / paper applications
  • Automated underwriting and case management
  • Real-time data validation
  • Automated decision engine
  • Consolidated workbench views
  • Extensive list of third-party integrations
  • Work orchestration
  • Document management
  • Cost-effective SaaS and PaaS implementation models

Electronic applications

  • Receive applications and images from external portals via an ACORD transaction
  • Web-based UI with reflexive questions presented dynamically, populates and generates completed new business forms for signature
  • Electronic signature, digital form and pen integration, in addition to industry standard signature tablets
  • Seamless underwriting integration

Automated underwriting

  • Automates underwriting decisions from simplified to complex iterative analysis
  • Pre-populated and configurable underwriting guidelines and rules
  • Iteratively evaluates application data and evidence with a series of underwriting decisions
  • Automatically assign risk and ratings

Case management

  • Flexible rules automatically assign cases, and when work is required, generate and deliver tasks to assigned user/team
  • Facilitates data validation and complex tasks related to case administration
  • Role-based security
  • Complete audit history of changes

Case workbench

  • Consolidates and maintains case data in one place
  • Alerts to an underwriter for application data or evidence that it’s out of bounds
  • Configure user rights to permission which sections within the Workbench users can view
  • Configure which data to display in each section within the Workbench

Requirements management

  • Out-of-the-box-ready ACORD interfaces to third-party providers further streamlines and automates the underwriting process
  • Automated requirements orders and workflow matching and follow-up
  • State-specific and other custom requirements forms
  • Reporting and analytics for enhanced requirements management

Business configuration workbench

  • Automate requirement orders, electronically evaluate requirement results, and continually adapt processes
  • Easily configure business rules and workflow, and define user conditions and actions
  • Supports “instant-issue” underwriting decisions or recommends underwriter review
  • Easily create web pages without a web developer or programmer

Product configuration workbench

  • Out-of-the-box-ready product templates—preconfigured and production tested—accelerate product introduction
  • Preconfigured rules around new product features, riders and benefits easily adapt to your underwriting preference

Third-party integrations

  • Integration with RGA’s AURA underwriting rules engine, making ALIP the first such platform to provide an out-of-the-box option
  • Extensive library of prebuilt interfaces with third-party vendors accelerates integration, further automating and streamlining the underwriting process

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Webinar: Insurtechs, health scores, and AI, oh my!

Today’s market has significantly shifted carriers into high gear regarding digital insurance solutions and customer engagement. Insurtechs, health scores and AI were considered to be “where we were headed” just a year ago. Now, it’s “where we are.” While many carriers struggle with legacy platform limitations, others are embedding innovative technologies, in parallel with modernization efforts, to satisfy consumers’ needs for simpler and accelerated underwriting.

ACLI’s recent webinar presented by Accenture and dacadoo discussed how expanding technology ecosystems are fundamental to future growth and remaining focused on your core competencies.

The session also spotlighted life insurance underwriting and how exciting new technologies like AI and data analytics combined with gamification and health scores are improving underwriting accuracy and encouraging healthier insureds.

Watch the webinar

ACLI Webinar Series: Insurtechs, health scores, and AI, oh my!

Introduce new products with speed and agility

ALIP’s powerful and flexible configuration capabilities enable your users to innovate with ease and automate to drive down costs.

ALIP is designed to empower product and business owners to build new products and test them in real time, automate business processing and eliminate interpretation issues…all without the need for IT resources.