New Business System

Our new business system is designed to automate the quote, apply and underwriting system, not simply underwrite the business.

At the core of what we offer is the TCP LifeSystems new business engine. This is not a system designed just to automate underwriting, it is a complete new business system that includes automated underwriting. We can work with all the leading reinsurers, using either their underwriting rules or a rules set that we have developed specifically for online issue.

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Based on our experience from the UK the whole process from start to issue takes 12 minutes for the consumer to complete. Since we’ve automated the majority of the workflow, there’s typically:

  • no agent or advisor needed, and
  • no underwriter needed

We found that just a small percentage of modern consumers opt to talk to someone and very few applications require a manual underwriting review.