Appian Connected Underwriting Life Workbench Overview

Introduction

For life insurers, balancing speed and accuracy is critical to the underwriting process so insurers can accurately price policies for new customers while managing their risk exposure. Commercial, off-the-shelf solutions can be hard to implement because they require you to tailor your processes to the product so it can address your business needs.

What if you could quickly and efficiently accelerate the underwriting process and improve customer experience without having to overhaul your entire process?

The Appian Connected Underwriting (CU) Life Workbench solution empowers insurers to accelerate the underwriting process and improve customer experience by reducing the time to quote and integrating disparate data sources to create a single 360-degree view. Its flexible and configurable design enables you to deploy the solution immediately or customize it to fit your brand identity and process needs. Best of all, CU Life Workbench delivers improved outcomes, saves time, and reduces errors in weeks.

What does Connected Underwriting Life Workbench provide?

The Appian Connected Underwriting Life Workbench solution provides a wide range of features that allow your organization to streamline underwriting processes and improve decision-making. This table describes the solution's key features that differentiate it from other commercial solutions.

CU Life use case: Streamlining life insurance underwriting for complex applications

To better understand these key features in action, let us examine a detailed use case:

Premier Life Insurance (PLI) faces increasing competition in the life insurance market, requiring faster underwriting decisions while maintaining accuracy to manage risk exposure. Sarah, a senior underwriter at Premier Life, receives a complex life insurance application for a high-net worth individual with multiple health considerations. The traditional manual underwriting process is time consuming and often delays policy issuance, potentially losing customers to competitors.

In this next section, let us explore the CU Life Workbench features that help Sarah and her colleagues accelerate the underwriting process through this example workflow.

Accelerates data ingestion and processing

The CU Life Workbench solution accelerates application processing and ensures comprehensive data collection during the case creation process. Sarah benefits from the real-time application monitoring that automatically processes the incoming high-net worth application through the solution's API integration, eliminating the need for manual application entry.

When additional information is needed, Sarah uses the guided data entry wizard to manually input supplementary details about the applicant's complex financial situation and health history, ensuring all necessary underwriting data is captured systematically.

Automates case management and workflow

Upon application receipt, the CU Life Workbench automatically leverages auto-assign cases to teams functionality to route the complex case to Sarah's underwriting team based on the application's characteristics and dollar amount. This helps Sarah manage and optimize workflow distribution.

The system's enhanced case management capabilities provide Sarah with a single pane of glass to orchestrate her work across multiple systems, allowing her to order medical requirements, assign tasks to support staff, and maintain detailed notes about the applicant's unique circumstances.

As the case progresses, Sarah utilizes conditional tasking and workflow visualization to dynamically adjust the underwriting workflow, adding specialized financial review tasks and removing standard requirements that don't apply to this high-net-worth case, with real-time visualization of the modified process.

Enhances decision-making capabilities

Sarah leverages the augmented decision making features to quickly visualize recommended decisions from the integrated rules engine, helping guide her requirements ordering and case decisions for the complex application with multiple risk factors.

With the Magnum Pure integration, Sarah can easily view and expand the Magnum decision recommendations down to the impairment level, providing detailed insights into specific health conditions and their impact on the underwriting decision for this complex case.

Provides administrative control and security

The underwriting manager uses the CU Life Settings site to quickly adjust user permissions and group security settings, ensuring that sensitive high-net worth case information is only accessible to authorized team members while maintaining business continuity.

The Auto Assignment module allows the business team to create and refine rules that ensure future high-net worth applications are automatically routed to the most experienced underwriters, optimizing resource allocation and expertise matching.

Extends with powerful add-on modules

PLI has incorporated the End-User Reporting add-on module, allowing Sarah and her team to create custom reports analyzing high-net worth case patterns, turnaround times, and decision outcomes without requiring technical support.

The team also leverages the AI Module to enhance their underwriting intelligence, using machine learning capabilities to identify patterns in complex cases and improve decision accuracy, while the Productivity Module streamlines repetitive tasks and optimizes workflow efficiency.

Integration and efficiency in CU Life Workbench

This walkthrough of key CU Life Workbench features demonstrates how PLI drastically reduced their underwriting time for complex applications from weeks to days, enabling faster policy issuance while maintaining rigorous risk assessment standards and improving customer satisfaction.

Get started now

Ready to get started with CU Life Workbench? Take the next step towards unlocking efficiency for your underwriting team by downloading and installing the solution or contacting Appian Support.

See the Appian Connected Underwriting Life Support Policy to learn more about support coverage for your Connected Underwriting Life Workbench.

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