Neutrinos Launches Underwriting Automation Suite

Overview of the New Suite

Neutrinos, a company based in Singapore, has introduced its Underwriting Automation Suite designed to enhance underwriting workflows and improve risk assessment in the life, annuities, and health insurance sectors. This suite builds upon the existing Neutrinos Intelligent Automation Platform.

The suite aims to increase straight-through processing rates and lower underwriting costs by utilizing AI-driven automation features.

Key Features and Benefits

• AI-powered automation expected to improve policy retention by 10-15%.
• Reduction in policy decline rates and Not Taken Up rates by 20-30%.
• Intelligent document processing that classifies and extracts data efficiently.
• Validates customer information and identifies submission errors, thereby reducing not-in-good-order rates.
• Includes an Auto Underwriting Engine for risk scoring that integrates no-code business rules.
• Offers centralized risk views with real-time insights and AI-assisted decision support.

Impact on Underwriting Processes

Neutrinos’ CEO and co-founder, Samik Ghosh, stated that the Underwriting Automation Suite addresses the growing data complexity by leveraging AI and automation. This approach allows insurers to process large volumes of information efficiently, enhancing risk assessment while allowing underwriters to focus on high-value decisions that contribute to profitability.

In addition to this launch, Neutrinos also debuted its AI Agent Composer last month, which enables insurers to develop and deploy AI agents for decision-making and complex task automation.