Motor traditionally has been contributing a major share of the GWP of many Insurers. Personal line business being a low-cost high-volume business and a portfolio which is subject to a high claims ratio, the Insurers are under tremendous pressure to keep the initial policy processing and UW administration costs low. Low acquisition cost and cost-effective ways of servicing customers can be the deciding factor in portfolio profitability.

• X-Pressway is a centralized web-based UW solution with ability to capture and process proposal data on-line over the web.

 

• X-Pressway acts as an interface between front line agents/dealers and the Insurer's back office administration layer. It enables the agents and dealers to handle the full UW life cycle over the web covering data capture, proposal creation, quotation generation, cover note/policy issuance, framework for interfacing with payment gateway, document printing, endorsements/renewal requests, comprehensive reports and end-user intuitive enquiry features are integral to the solution.

 

• X-Pressway helps Insurers in reducing the operational costs by enabling Insurers to process policies online.

Benefits:

• Increase in Profitability by saving in Policy Issuance cost

• Savings in Communication cost

• Reduced labour and Quick Turnaround time

• Information defaults and flexible payment options

Features:

• Centralized web based solution

• Capturing & processing proposal data on-line over the web

• Enables the Agents and Dealers to capture data and issue cover notes or certificates online

• On-line policy issuance and policy servicing requests

• Exercises controls, checkpoints and validations to avoid any misuse of information and ensure data integrity

• Enquiry, Endorsement/ Requests and Renewal information

• Built-in authorization

• Framework for interfacing with payment gateway.