⚠️Updating and applying businessrules in insurance underwriting is time-consuming and error-prone if they are automated.
The processes in insurance are rule-driven, but businessrules are in the rulebook documents or hard-coded inside workflows and applications.
The problem?
🔸Business rules in workflows that are outdated
🔸Backlog of work for IT to update and apply business rules
🔸Quotation and pricing rules that are inside Excel files and not centralized
🔸Ensuring, auditing, and monitoring compliance with regulations and laws are difficult
Alternative?
✨Not hard-coding business rules inside processes, applications, and workflows.
How does it look like?
▶️Learn more at https://lnkd.in/g5vfjqXp
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Published December 4th, 2024 at 07:30 am
