With Corticon as its business rules management system for the automated underwriting system, Toa Re has registered the underwriting rules for 290 diseases queried by direct insurance companies over the past two years. With Corticon, staff without expert underwriting knowledge can assess each case based on Toa Re’s underwriting guidelines, reducing the workload for underwriters and improving the efficiency of the underwriting process. This frees up underwriters to focus on other tasks, adding value for the company and customers, and ensuring assessment consistency and quality.
According to Ms. Yuriko Ishii, Superintendent of Underwriting Team at Toa Re, the administration staff can complete underwriting tasks using Corticon, while continuing to perform their usual work, improving productivity across the organization.
“Traditionally, an underwriter determines the eligibility for reinsurance using manual processes,” said Ms. Ishii. “This requires special knowledge for assessing each case. However, with the new system leveraging Corticon, staff without special knowledge can perform the underwriting tasks, without help from seasoned underwriters. This frees up underwriters to perform other important jobs, such as seminars for customers.” Ms. Ishii added that the Underwriting team can now focus on reviewing underwriting standards, because Corticon reduces the team’s workload.
In addition, the flexibility of Corticon enables staff to make changes of underwriting guidelines quickly and easily, as needed.
Toa Re plans to incorporate lessons learned by using the new underwriting system to further improve quality and consistency.