Life & Annuity Insurance: Group and Individual

COVID-19 has transformed the industry more in the past year than the previous several years combined — and its pace is only accelerating. Carriers must leave the status quo behind. This means enabling data-driven business outcomes, improving customer intimacy, and improving decision-making across the entire value chain.

Don’t let legacy systems and disparate data sources hold you back. With FJA’s tailored solutions for Group and Individual non-medical insurance products, carriers can break down data silos, maintain compliance, and create actionable, timely portraits of customer preferences and behaviors.

Profitably Build

Build customized solutions and launch insurance products quickly to keep pace with the market.

FJA Product Machine shifts carriers from a product-focused orientation to a customer experience–driven business model. With Product Machine carriers can restructure cumbersome processes, simplify products, increase flexibility of policies, promote digital connectivity, and expand distribution options.

FJA Product Machine includes:

Product Modeler allows insurers to model products based on compliance approved options. It’s the single source of truth for product rules and structure to accommodate new product features, benefits, riders and statutory mandates.

Benefits

  • Launch products quickly
  • Reduce development timelines 
  • Minimize overhead
  • Build customized solutions to meet customer needs and strategic goals

Product Builder allows carriers to quickly commercialize competitive products and services.

Benefits

  • Build plans guided by product modeler that meet market requirements
  • Associate non-medical products to packages that include riders, product bundles, alternate pricing methods and distribution channels

Product Profitability Planner allows the product department to make all decisions affecting product price including regulation changes, risk scoring routines and rate refusals.

Benefits

  • Configure product pricing, and underwriting rules 
  • Standard and customized rate exhibits, proposals, EOI forms, requirement letters, etc. 
  • Support different user profiles and authority levels 
  • Expose sophisticated calculation engine used by sales, underwriting, and reserving

Profitably Sell

Automate consistent underwriting decisions leading to improved mortality and profit margins.

FJA’s underwriting applications facilitate both financial and medical underwriting. Designed for speed, efficiency and collaboration, with FJA’s underwriting applications you can feel confident that you are enhancing broker communication and improving customer service levels with improved tracking and faster throughput.  

Insurance companies can easily configure rules and rates specific to business needs and update them as circumstances change.

FJA’s underwriting applications can be bundled or deployed separately:

Underwriting Workbench (UWB) Base

  • Rating and Quoting (including endorsement / renewals)
  • Automated workflow rapidly routes cases to auto approval or the appropriate underwriter or resource
  • Easily configure unique business rules
  • Multi-channel support through open APIs streamlines the sales process to improve quote turn-around-time and transfer reliable data
  • Facilitates collection of collaterals & attachments
  • Easily import census and experience Data
  • Large Claim Tracking
  • Manual & Experience Rating
  • Manage rate adjustments and concessions
  • Integration with external data providers obtains additional information about the group

Evidence of Insurability (EOI)

  • Automate and simplify approvals
  • Integration to third party data sources and service bureaus

Profitably Manage

Automate and accelerate policy issuance and facilitate an improved customer experience.

FJA Case Install facilitates policy lifecycle management. Don’t spend up to 60 days on a case installation.  FJA’s Case Install automates and accelerates binding of coverage and issuing of policies leading to significantly improved customer satisfaction scores.

Users can:

  • Create employee groups
  • Create billing groups
  • Create employee benefit options
  • Create policy documents
    • Policy output
    • Customer notifications
    • Invoices
  • Manage policy renewals
  • Perform customer plan look up, provide benefits confirmation, and capture customer insights

Profitably Distribute

Distribute products and services online with decision support that provides personalized recommendations and self-service.

FJA Customer Engagement Management (CEM) delivers superior customer experiences.

Quickly and easily provide personalized, highly engaging customer experiences with FJA’s Customer Engagement Management (CEM) tool.  CEM is an intuitive decision support application that educates users and guides them through their options with animated stories, data visualization, decision support algorithms and benefit calculators.

CEM helps improve top-line growth by expanding your reach, simplifying complex concepts for any audience while enhancing the self-service customer experience – at a much lower cost-of-acquisition and support compared with prevailing methods.

With CEM you can:

  • Assist customers in making better decisions about their insurance needs utilizing world-class cognitive / behavioral science techniques
  • Personalize the experience with data from user profiles and other inputs
  • Use content authoring tools and calculator builders to provide highly personalized customer experiences
  • Secure customer profile, usage and satisfaction data to improve product development
  • Improve data gathering such as securing health history with a more user friendly interface designed to remove barriers to communication
  • Allow users to perform year round self-service such as filing claims