CSCs New Business Engine:

The demands on new business departments are growing. Carriers are racing to exploit multiple distribution channels from call centers to the Internet, but they are also feeling pressure to cut costs and improve productivity.The longer it takes to issue a policy, the greater the opportunity for customers to walk away. Carriers need to simplify the process of acquiring new business. Shifting into gear with the right technology could result in an improved top and bottom line.Thats why CSC introduced nbAccelerator, the industrys most complete work management and risk assessment software. It provides the technology and business processes needed to seamlessly integrate new business processing from the application process through contract delivery. With nbAccelerator, a carrier can leave its competitors in the dust.How does it work? nbAccelerator accepts electronic, imaged or paper applications, and it automatically issues a policy without manual intervention. Even insurance products requiring sophisticated risk assessment can be issued in much shorter timeframes due to automated workflow.Automated work management eliminates redundant tasks and processing lag time by managing and tracking workflow, essentially recognizing that several people may be working on a case at the same time. nbAccelerator allocates work using electronic case assignment and routing to match business demands with processing capacity by individual, team or location.Reports are provided that allow you to manage your processes and your business. With nbAccelerator, problems can be quickly highlighted and assessed, creating the ability to react quickly to problem areas and market changes.Integrated with all of nbAccelerators other features is automated underwriting, which validates application data as it becomes available. It utilizes user-maintained business rules to determine the requirements that need to be ordered based on company-defined parameters. Requirements are automatically ordered, receipted, matched to a case and evaluated. Provider lag time is tracked with automatic follow-up. Electronic access to all application data is provided to assist the underwriter in the evaluation of unusual risks or complex situations.This combination of automated processes and electronic files helps keep a business at the front of the pack.nbAccelerator decreases the time and cost of virtually every step required to process an application, said CSCs Darren Klauser, vice president of Life and Annuity Solutions. It helps you close sales quickly, which can reduce the number of unaccepted policies and abandoned quotes.