It is every bread-winner's quest: invest in a financial instrument that will increase savings as well as provide safety. Birla Sun Life Insurance (BSLI) does precisely that and more. With a vision to providing its customers with world-class services, the company has automated its underwriting process. Insurance proposals are now automatically processed and policies issued, in medical as well as non-medical cases. A software model, AURA, handles all underwriting requirements to automatically process an insurance proposal and issue the policy in an efficient and transparent manner and in the shortest time possible. AURA is an innovative and highly automated underwriting module. With the implementation of AURA, there is minimal human intervention in the underwriting process. The module ensures quick turnaround time, in addition to consistency and accuracy of decision. Checking the history is also easy since the system stores records of all the customers.
With standardised rules and features, AURA is able to bring forth much more transparency between the clients and the organisation. This feature is possible as the system throws up information based on a score card designed to allocate points to various aspects of information provided by the customer. Customers also have the option to know the basis on which the policy and premium has been decided for them.
Commitment to unique solutions
BSLI's constant endeavour has been to find new ways to improve quality, enhance customer satisfaction, increase capacity, reduce costs and gain new competitive advantage. AURA offers an innovative approach to new business processes by providing robust and flexible automated underwriting. Not only does the module eliminate manual processes, AURA's ability to capture and store all these details provides BSLI with access to valuable information about its business. AURA uses industry proven interfaces to existing systems as well as third party information vendors.BSLI goes a long way in helping customers realise their dreams.