How to Survive 10,000 RFP’s Without Losing Your Mind?
If you are an underwriter, you have likely spent endless hours staring at Excel sheets or navigating your internal dashboard, going through RFPs (Requests for Proposals), and applying the same predefined rules over and over. The process is repetitive, and let’s face it, it can be monotonous. With 13,000 RFPs to tackle, spending 30 minutes per RFP soon becomes an overwhelming task.
But here’s the real problem: When you are buried in these routine tasks, important decisions get pushed aside. You have less time for high-risk cases, unique client needs, and strategic business priorities. The result? Pricing mistakes, missed premium opportunities, and an uptick in claims—all of which eat into your profits and make it harder to deliver the value your business expects.
If this resonates with your day-to-day challenges, then it’s time to explore a solution that can transform how you manage underwriting—making it smarter, faster, and more efficient.
Manually Applying the Same Rules, Again and Again
The process of applying underwriting rules to each RFP is time-consuming and often results in inefficiency, particularly when handling large volumes of RFPs. This results in:
The Burden of High Volume:
When you’re faced with 13,000 RFPs and spending 30 minutes per RFP, manually reviewing each one results in massive time commitments—over 6,500 hours just to get through one batch time. This commitment becomes overwhelming, which creates bottlenecks that slow down decision-making, preventing you from addressing higher-priority cases or focusing on more strategic tasks.
Limited Time for High-Risk Cases:
The sheer volume of RFPs forces underwriters to focus on routine tasks, leaving high-risk cases and unique client needs behind. This shift delays timely interventions, making it harder to identify and mitigate risks before they escalate, which ultimately impacts your ability to offer comprehensive plan options.
Routine tasks compromise High-risk client focus for 50% of underwriters, leading to lower satisfaction and retention. (Source)
Increased Claims Profit Loss:
Pricing mistakes and miscalculations lead to more claims, resulting in higher costs for the company. What could have been an accurate risk assessment now becomes a financial burden because the insurer ends up spending more on claims than expected. Essentially, these mistakes chip away at the company’s profits, creating a ripple effect that impacts the bottom line.
Ditch the Repetition: Automate Underwriting with SmartRules™ Engine
Now, imagine that same scenario, but this time, you are sitting at your desk, and instead of manually applying rules for each case, you simply set the predefined rules once—and SmartRules™ Engine takes care of the rest.
No more manually reviewing rules for each RFP. Instead, you define the rules according to the company needs, and SmartRules™ Engine applies them automatically across your entire portfolio, making consistent decisions without the repetitive work.
Here’s where the magic happens:
Consistent Risk Assessments:
With SmartRules™ Engine, you’ll never apply rules inconsistently. Whether it’s small groups or large groups, you can tailor specific underwriting rules for each line of business. This ensures consistency and accuracy across all cases, with each policy assessed based on the appropriate standards for its group size. Knowing that the right rules are applied every time allows you to make more confident, informed decisions.
Handle High Volume Without Stress:
Remember those long lists of RFPs you had to manually review? Now, whether its 100 RFPs or 10,000, SmartRules™ Engine processes them all with the same speed and accuracy.
Teams using SmartRules™ Engine have experienced an 80% faster processing time for large volumes of RFP’s, massively enhancing workflow efficiency.
Flexibility When You Need It:
But let’s face it—underwriting isn’t all about sticking to the same rules every time. Some RFP’s need special treatment, and SmartRules™ Engine understands that. While it handles the bulk of the rule application, it allows you to override those rules when needed. This means that you can still make adjustments when specific cases require them. Imagine being able to adjust rules quickly and accurately without the risk of derailing your entire workflow.
Stay on Track with Business Rules:
The last thing you want is to miss the requirements for the right group. With SmartRules™ Engine, you can ensure that every decision made aligns with the specific business rules for each group. Whether it’s a small group or large group, the system automatically applies the right set of qualification rules for each, ensuring they meet the necessary criteria to qualify for the products they’re applying for.
No more second-guessing. With SmartRules™ Engine, you can confidently focus on delivering the best results for your clients, knowing each case is being evaluated based on the right set of business requirements.
How It All Comes Together
Here’s the best part: SmartRules™ Engine doesn’t just save you time—it gives you more control over your underwriting process. You can easily manage multiple product lines from a single platform. The centralized rule configuration ensures consistency, while the flexibility to adjust rules means you’re never locked into a rigid system. You define the rules, and SmartRules™ Engine applies them across the board for each specific product line.
We’d Love to Hear from You:
- Do you have questions about the SmartRules Engine?
- What’s your biggest challenge with data right now?
- Are you using any tools to automate your workflow? Which ones work best for you?
Share your thoughts or get answers to your questions—connect with us today!
We believe in the power of automation to make underwriting smarter and faster, while still keeping the human touch where it counts.