Case Study: Global Provider of Integrated Financial Services achieves 15% increase in business approval cases with HCL's Accelerated Underwriting

Better Underwriting Efficiency Leading To A 15% Increase In Business Approval Cases

Global Top 5 US Insurer, a Fortune 100 global provider of integrated financial services based in the United States, was struggling with underwriting efficiency: many cases referred back by the automated underwriter required manual review, Vantage new-businesses were underwritten manually, and features like motor vehicle reports and child riders were processed by hand. To tackle these challenges the insurer engaged HCL and leveraged HCL’s Modern Application Management capabilities, including the “Accelerated Underwriting” solution.

HCL implemented Accelerated Underwriting to automate referred cases, enabled automatic approvals for Vantage new business, and automated child-rider and motor-vehicle report processing while incorporating regulatory compliance changes. As a result, underwriters approved about 5,170 additional cases quarterly, roughly 1,761 more child-rider cases annually, the approval rate rose from 25% to 40% (a 15 percentage-point increase), and manual processing time dropped from ~5 minutes 15 seconds to 2 seconds, delivering clear efficiency and business-approval gains.