STEP enables e-issuance of policies via a robust platform that offers:
- Automation of application processing
- Instant decision-making with automated underwriting
- Document management,
- Requirements management
- Correspondence generation
Portals feature user roles for applicants & policyholders allows the applicants to review and e-sign documents and policies within the system, prior to issuance. The policy can be bound instantly, policy pages and policy language can be assembled based on product structure and policy provisions. The entire policy can then be dispatched to the applicant for review and acceptance within minutes of the final action occurring on the policy.
STEP can reduce the “apply-to-issue” cycle time for simplified issue or instant issue Life products from days to simply hours, resulting in greater efficiency, dramatic customer satisfaction and lowered costs.