New Business Excellence for P&C Commercial Lines

Improving the effectiveness and efficiency of underwriting and related new business processes is critical to profitable growth. New Business Excellence (NBX) is the Infosys approach for P&C commercial lines carriers, enabling them to revamp new business processes and leverage technology. NBX enables carriers to improve their operational efficiency and makes underwriting more effective by making it data driven, thus creating a robust platform for sustained profitable growth.Is it time to transition your new business processing? Since commercial lines carriers have traditionally not invested in automating processes and workflows, their new business processes continue to be manual and paper-intensive. Their legacy IT systems compound the problem, preventing efficient integration of information across the enterprise. As a result, carriers are forced to spend time and money on underwriting even routine flow type risks.In short, NBX can enable:

P&C carriers to completely automate the underwriting process of “flow” business, e.g. commoditized products like Business Owners Package
In addition, NBX endeavors to systemically process some of the “transaction” business e.g. complex risks like Commercial liability by simulating underwriter decision through rules engines

As a result, it achieves the implementation of a data driven low- or no-touch underwriting risk selection process where only the highly complicated risk selection scenarios are routed as “exceptions” for manual underwriting. The NBX solution addresses the critical questions faced by business and IT executives in commercial lines today.Read more The Infosys approach Unlike other solution approaches that are limited in their scope, Infosys’ NBX solution creates an integrated framework which transforms the whole new business submission process for commercial lines carriers. The NBX solution is based on four core concepts, which allow integration of new business applications and enable straight-through processing.