Underwriting Insurance Policies with blockchain-based applications on Salesforce CRM.
The insurance underwriting process is plagued by manual paper processes and often disconnected to upstream quoting engines and downstream payment systems.
This application streamlines the underwriting process by bringing internal and external stakeholders together to speed up the sales cycle, reduce costly errors and enhance the customer experience. Businesses can streamline the retrieval of documents such as medical and financial records, information from business databanks and lastly improve the visibility and control of the contract process.
The key functionality of the application is empowering businesses to create new policy holder applications, assess the risk of the applicant and streamline a 1st payment from the customer. The app also allows businesses to store and manage all of the agreements in a secure vault on their Corda Node.