Original press release published here.
NEW YORK, NY – October 4, 2021 – Unqork, the leading enterprise no-code platform, today announced its P&C Product Launcher application to help carriers digitize and automate every step in the underwriting process. Unqork’s application helps carriers break away from the inefficiencies of outdated, manual systems, enabling them to quickly build and launch software without writing or creating a single line of code. As a result, carriers are able to accelerate new product launches, save valuable resources and provide better user experiences for brokers and customers.
Underwriting processes are foundational for every carrier, yet many use inefficient systems that rely on legacy architecture. These inflexible underwriting systems significantly hinder a carrier’s ability to launch products and update existing ones. Too often, underwriters must work across multiple disconnected systems, which leads to high error rates, slow quote turnaround times, and leaves customers and brokers with a poor user experience. The complexity and costliness of maintaining outdated systems stifles any innovation teams’ ability to make product improvements.
The Unqork P&C Product Launcher helps carriers create an efficient, streamlined and easy-to-use broker portal and underwriter workbench in one integrated platform. The solution offers configurable templates for every step in the underwriting process, from first customer contact, through the application process, all the way to policy delivery. The P&C Product Launcher also includes 70+ pre-built integrations with third-party services, including everything from data enrichment to policy admin systems.
By leveraging Unqork’s enterprise no-code platform, carriers can launch products in as little as 12 weeks that would otherwise take 18 - 24 months to bring to market. With a streamlined, easy-to-use platform, underwriters can focus their time on the highest-value activities: identifying, structuring, pricing, and negotiating the best policies to support top and bottom-line growth for the organization.
With Unqork’s P&C Product Launcher carriers can:
• Pixel-perfect UI: Customize the user experience to precisely meet a carrier’s brand guidelines
• Multi-party engagement: Create broker- or client-led intake and self-service workflows that are directly connected to the underwriting workstation for a seamless underwriting experience**
• Streamlined integrations: Leverage integrations with leading insurtechs and data providers, including Dun & Bradstreet’s Company Entity Resolution, DocuSign eSignature and others to accelerate intake, automate clearance, digitize rating, and streamline quote, binder, and policy issuance
• Digital dynamic workflows: Orchestrate dynamic workflows including assignment, registration, referrals, modeling requests, etc. across multiple products and geographies
• Transparency and accountability: Manage ownership with automated routing, alerts, and notifications
By implementing Unqork P&C Product Launcher carriers can:
• Accelerate product launches: Launch new products in 12 weeks with streamlined product development, automated intake, and a built-in underwriter workstation
• Increase underwriter capacity: Automate manual tasks and streamline the underwriting process to free up underwriters to focus on new business opportunities Reduce operational risk: Automate manual processes, incorporating built-in approval controls, and maintaining an audit trail
• Improve customer & agent satisfaction: Enhance client, agent/broker, and underwriter experiences through modern UI and self-service capabilities
“Underwriting is one of the most foundational and essential processes for insurance carriers, yet most carriers still rely on inflexible, code-based legacy systems or manual processes that are expensive to build and maintain and create significant workload implications for key underwriting staff,” said Farooq Sheikh, Insurance Go-To-Market Lead, Unqork. “Unqork’s P&C Product Launcher leverages the best of Unqork’s no-code platform, providing carriers with a one-stop-shop for digitizing and automating the entire underwriting process. This is a game-changer for carriers, allowing them to simultaneously free up time and budget resources while providing higher-quality, future-proof software.”
Unqork’s P&C Product Launcher application is the latest in an extensive suite of capabilities that Unqork offers its customers in insurance. Customers across P&C consumer, commercial, life, annuities, retirement, accident, group benefits and specialty insurance, with carriers, distributors and brokers use the Unqork platform for everything from policy and claims administration to underwriting to servicing, operations and customer service.
Media Contact: Dana Davis comms@unqork.com