There is a noticeable gap between many insurers’ enrollment processes and users’ expectations based on their experiences with vendors in other industries. The expectation is flexible, customizable, multi-channel, cross-device, instantaneous access to quotes, service and enrollment. Yet the reality is still often blighted with sporadic paper processes, manual data entry, third party information and un-optimized approval processes.
Insurers must recognize that the careful thing to do now is adapt. The risk lies in hesitating. Insurers who are able to play catch-up quickly will benefit, and those who falter risk damaging their brand and their revenue. Latent technology and process inefficiencies in the underwriting and enrollment process will ultimately be exposed, jeopardizing new business opportunities.
Underwriting is the process of evaluating risk and assessing eligibility for a product (in this case, insurance). It is historically a highly-subjective, manual process that puts disproportionate business risk on the aptitude of individual underwriters. Enrollment refers to the onboarding of new customers to the insurance plan.
Our portal-based solutions support an optimized user experience for agents, brokers and customers. On the back end, the portal is fully integrated with legacy technology products that can be upgraded for additional functionality. Underwriting is standardized. The portal streamlines enrollment with automated, digital processes and feeds into the defined business workflow. Enrollment information is stored in accessible, centralized and compliance-friendly storage repositories. It is a secure foundation for your future business growth.
We are typically engaged by Insurance industry professionals who may be:
Our well-versed experts can provide you with a convincing case for the use of our Underwriting and Enrollment solutions, including improved operational efficiency, data integrity, enhanced compliance and greater customer-centricity.
We integrate our industry expertise in Insurance, Process Management and Technology to provide your company with the following benefits:
Request a free consultation with one of Paragon's leading industry advisors to discuss the best solution for your organization's unique challenges and goals.