Automated Underwriting

The Harel Group continues to invest in innovative solutions to meet the diverse needs of insurance agents and policyholders. The new and exclusive tool within the "Optiweb" system provides agents with an innovative solution that delivers immediate online responses regarding the acceptance conditions for the requested insurance and the personal premium the client will need to pay, including any medical additions if applicable. This occurs immediately upon completing the sales process and answering the health declaration.

Acceptance conditions for the insurance candidates are confirmed at the time of signing the proposal, all in a single process. Additionally, if a candidate needs to submit documents based on their personal medical situation to determine acceptance conditions, feedback is provided, detailing the required documents, along with an option to attach these documents within the same process. This development enhances the professionalism of the agent and significantly shortens the proposal handling time until policy issuance, allowing agents to allocate additional resources to customer service.

Harel representatives noted that the automated underwriting relies on existing underwriting capabilities within Harel's core system. The core process can weigh the various declarative and historical underwriting characteristics of insurance candidates, combined with business logic and agent benefits, thus enabling precise underwriting pricing during the sales process.

Furthermore, the system allows Harel's underwriting department to construct and update underwriting rules to improve automation rates without relying on additional developments. The externalization of core engine rules to digital channels is facilitated by a middleware layer based on MULE SOFT products, allowing real-time traffic through secure APIs to Harel's innovative production simulator, Optiweb, developed using cutting-edge technologies (React/Node) and implemented on AWS cloud technologies.