Smart Underwriting by SilverBridge is a cloud-based, AI-driven platform that automates the insurance underwriting process by securely integrating internal and external data sources, including health records and risk metrics. The solution enables insurers to make real-time, automated decisions on new applications and changes to existing cover, reducing manual intervention and improving both speed and accuracy. By leveraging advanced AI algorithms and expert models, Smart Underwriting provides a digital, patient-centric approach that aggregates data from multiple sources—such as medical history, compliance, and legal reviews—into a unified risk profile. The platform is designed to be cost-effective and scalable, supporting the digital transformation of underwriting for life and health insurers. Integration with partners like HealthCloud and Astute further enhances risk scoring, fraud detection, and compliance, enabling a 360-degree view of each applicant and streamlining onboarding processes that traditionally required weeks of manual review.

Key Features

AI-Driven Underwriting Automation Automates underwriting decisions using advanced AI and expert models.

• Virtualizes underwriter expertise for consistent, objective decisions
• Continuously retrained to adapt to regulatory and market changes

Integrated Health and Risk Data Aggregates and analyzes health, medical, and risk data in real time.

• Connects to health data providers (e.g., HealthCloud) for up to 10 years of history
• Incorporates fraud risk scoring and compliance checks

Real-Time Decision-Making Enables instant underwriting outcomes for new applications and policy changes.

• Reduces need for manual questionnaires, screenings, and tests
• Supports straight-through processing for eligible cases

Secure Data Integration Ensures privacy and compliance in data handling.

• Securely connects to internal and external data sources
• Supports regulatory and audit requirements

Scalable and Cost-Effective Designed for insurers of all sizes.

• Handles high volumes of applications efficiently
• Reduces operational costs and manual workload

Benefits

Faster Onboarding and Policy Issuance Accelerates the underwriting process from weeks to real time.

• Improves customer experience with instant decisions
• Reduces administrative delays and bottlenecks

Improved Risk Assessment and Fraud Detection Enhances accuracy and consistency in risk evaluation.

• Aggregates diverse data for a comprehensive risk profile
• Integrates fraud scoring to mitigate risk

Operational Efficiency Minimizes manual intervention and resource requirements.

• Automates routine underwriting tasks
• Frees staff for complex or exceptional cases

Regulatory Compliance and Auditability Supports compliance with insurance regulations.

• Maintains secure, auditable data flows
• Adapts quickly to regulatory changes