Celent looks at how a business rules management solution has enabled Travelers to increase the flow of new business by over 50%

Business Rules and Underwriting Automation at Travelers

San Francisco, CA, USA June 25, 2008 – A new Celent report, Business Rules and Underwriting Automation at Travelers, presents a case study of how an insurance company achieved significant success in automating underwriting and pricing of several lines sold to its small business customers. The company is Travelers; the business unit is Select Accounts; the products are sold in its TravelersExpressSM program; and the key technologies supporting this initiative are a business rules management system (BRMS), predictive analytics, and service-oriented architecture (SOA).

TravelersExpress uses automated rules to enable the underwriting, product, and pricing strategies of its business. The result is a complete, quote-to-issue platform, providing ease and speed to agents and customers.

Creating business value in TravelersExpress requires real time access to a rules set in order to execute a multivariate pricing model and underwriting rules. To provide this, Travelers implemented a service-oriented architecture (SOA) solution.

Source: Travelers and Celent

�The role of Select Accounts underwriters has shifted to managing a book of business and a portfolio of producers and focusing on growth rather than getting transactions done. Producers have said they appreciate the greater clarity of Travelers� appetite for various risks, faster issue for accepted risks, and a closer working relationship with their underwriters,� says Donald Light, senior analyst with Celent�s insurance group and author of the report.

The 22-page report contains one figure. A table of contents is available online.

About Celent

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. www.celent.com