3. Risk Scoring for Customers to be used during Underwriting –
Business Insight
Reference :
• The Gap has no reference in the Appendix A
• ISP Report Reference TS_UW04, TS_CL03 Slide No. 357, 358
• Action Item Underwriting ASI205
Original Requirement :
This is a New Requirement.
Current Understanding :
• Risk score will be a major parameter/factor in UW case allocation, UW escalation level determination, Auto underwriting.
• Risk scoring needs information from several sources. There are a number of factors, for example - occupation, residential address, product type, sum assured and agent quality to obtain the risk score.
• There should be a metric to help the underwriters to improve efficiency.
Revised Solution (if applicable) :
An analytical tool/report to analyse the risk scoring and based on the results decisions can be taken whether TLI can modify/relax the criteria.
• Risk score calculations and rules are to be configured in Oracle J rules engine
• Customization in eBao to use Risk score during underwriting and claims
• Reports and Dash boards related to Risk score.
Original Estimation :
Since this is a new requirement, it was not originally estimated
Effort Estimation :
• 315 Person days of development effort
• Assumption: 5 simple rules and 10 Medium level complex rules.
• (E.g. Medium rules : occupation, residential address, product type, sum assured and agent quality with various range combinations)