The solution provides a system for task distribution and workload balancing, and offers centralised risk views with real-time insights and AI-assisted decision support. Credit: Harsamadu/Shutterstock.

Singapore-headquartered Neutrinos has introduced its Underwriting Automation Suite to enhance underwriting workflows and facilitate risk assessment in the life, annuities and health insurance sectors.  

The suite, which builds upon the Neutrinos Intelligent Automation Platform, is reported to increase straight-through processing rates and reduce underwriting costs. 

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The Underwriting Automation Suite is engineered to “scale operations” and “boost productivity” with AI-driven automation, the release stated.  

Insurers utilising AI-powered automation can expect to see policy retention improvements of between 10–15%, alongside lower decline rates and a reduction in Not Taken Up rates of 20–30%, the company said.  

The solution features intelligent document processing, which streamlines the classification and extraction of data from documents.  

This process claims to validate know-your-customer and due diligence, helps in identifying missing or “incorrect submissions”, thereby reducing not-in-good-order rates and expediting underwriting approvals. 

The suite also includes an Auto Underwriting Engine that leverages AI for risk scoring and integrates no-code business rules.  

It provides a system for task distribution and workload balancing, and offers centralised risk views with real-time insights and AI-assisted decision support. 

Moreover, the Underwriting Automation Suite comprises enhanced document requirements management, automating post-application processes to minimise delays and optimise document handling.  

Neutrinos CEO and co-founder Samik Ghosh said: “Underwriting has always been a data-driven discipline, but today’s scale and complexity demand new approaches. AI and automation enable insurers to process vast amounts of information more effectively, improving risk assessment while freeing underwriters to focus on high-value decisions that drive profitability.” 

Last month, Neutrinos launched its AI Agent Composer, a tool that allows insurers to develop and deploy AI agents to support decision-making and automate complex tasks.