Comarch Insurance Scoring

Problem

The essence of the insurance business is risk assessment. Not every risk is, however, insurable. Due to the variety of products and insurance offers risk assessment is carried out in many ways. Mass risk assessment is governed by other rights than for example big or specialized risks. However, in each case historical data, knowledge and underwriters’ experience are of high significance.

Challenge

Underwriting is risk assessment carried out by the insurance company. This key insurance process due to the complexity of products and content of the protection requires the support of IT tools. In most cases, underwriting is the calculation of contributions based on the tariff table. In more complex insurance, underwriting uses external data, analyzes complex financial data, calculates and compares the rates and warning parameters.

Solution

Comarch Insurance Scoring is an IT system based on the flexible and definable automat. It allows to assess different kinds of objects (underwriting applications, customers, etc.). Thanks to a a unique, layer-structure scoring of objects the solution can define virtually any model for assessment. This is particularly useful in the underwriting process of life and health insurance.

Business and Operational Benefit

• saves time by working on processed data, enabling faster decision-making
• increases productivity through the use of advanced technology and flexibility of the scoring model, allowing modeling of arbitrarily complex underwriting rules
• minimizes risk thanks to the automatic evaluation of the majority of life policy requests and using the underwriters’ help becomes necessary only in the most complex cases