The Intelligent New Business Electronic Application and Automated Underwriting Solution at The Western-Southern Life Insurance Company

Abstract For life insurance companies, the challenge of the new century is to maintain profitability and market share in a rapidly changing business environment, manifested by increased competition and changes to insurance products required by the market. In order to meet these challenges, the Western-Southern Life Insurance Company (WSL) decided to automate their insurance policy application process and reengineer the underwriting process. Their main objectives were to reduce the cost of underwriting, reduce application cycle time and streamline the underwriting process. The result was a business intelligence application known as Intelligent New Business.