Financial services technology solutions provider – SilverBridge
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SilverBridge and HealthCloud have combined their service offering to present Life Insurers with an opportunity to intelligently automate the insurance underwriting process.


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The Business Challenges

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The Solution

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The partnership between SilverBridge and HealthCloud facilitates a secure health data exchange where patient data is collected from healthcare organisations, medical practices, pharmacies, laboratories, clinics,healthcare providers, devices, and patients.


All this data is aggregated into a weighted single score which opens opportunities to unlock efficiencies in the process. In turn, SilverBridge injects sophisticated artificial intelligence (AI) algorithms comprising the human insights of the underwriters to automate the decision-making process.

Transforming the traditionally resource-insentive and timeouts underwriting process into a real-time customer experience

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The diagram below illustrates the digital underwriting solution, highlighting the automated process.



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Benefits

  • Improve the speed, quality, and the cost of gathering patient-centric data and enable the digital underwriting model.
  • Exposes outward facing AAPIs for data distribution and HS dissemination.
  • Manages a plurality of integrated adat sources, ensures stability and security of all data exchanged.
  • Records and stores consumer consent gained for POPIA purposes.
  • Real-time insight from multiple experts e.g. underwiter, compliance, legal etc. can be applied to all new applications.
  • Commercial, business risk, and ethics are considered in all underwriting decisions.
  • Humnan errors are reduced, more accurate and consistent decisions are made.
  • Higher quality underwriting decisions.
  • Reduced Risk.

Operational Efficiencies

  • Multiple sets of internal and external adat can simultaneously be used in decision-making
  • Straight through processing
  • Real-time, 24/7 turnaround time
  • Enhanced customer experience
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Interested?

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