A new level of precision
Third Party Data Services
By integrating external data providers hr | ReFlex users gain access to additional information that improve the accuracy and completeness of their risk evaluation process even more. The best part? It’s easy! In markets where data from external sources is available, hr | ReFlex's Third Party Data Service (3PS) facilitates the seamless complementing, verifying, or correcting of applicant data with minimal implementation effort.
What role does 3PS play in the success of underwriting?
Adding 3PS helps optimise sales processes through precise automated underwriting decisions supported by relevant third-party data. By leveraging third-party data, hr | ReFlex enhances the success of your automated underwriting process even more by closing information gaps, accelerating your operations and increasing efficiency.
What does 3PS do for me?
3PS connects with external data providers to gather additional information, ultimately leading to a more nuanced risk assessment. Utilizing 3PS can boost automated decisions, saving time and costs while streamlining operations. This accelerates automation, making it even faster and more efficient, and enables you to provide immediate policy quotes to your customers. Moreover, by flagging potential discrepancies between first and third-party data, 3PS assist in detecting possible fraud while ensuring a secure experience for your clients.
How does 3PS work?
3PS can easily be integrated via Application Program Interface, offering a straightforward process with minimal implementation effort. Once in place, the 3PS connectors enable hr | ReFlex to establish direct communication with third party data providers, offering a technical solution that can benefit all markets with access to external sources.
Benefit from enhanced insights and improved efficiency.
By integrating third-party data alongside conventional insurance details, 3PS enhances insights, refines the underwriting process, boosts operational efficiency, and deepens understanding of historical trends. This comprehensive assessment takes both customer experience and insurance risk assessment to the next level.
Third Party Data Service
- Improves fraud detection and risk assessment through increased data availability
- Enhances user experience through streamlined processes, reducing the need for additional inquiries
- Refines underwriting through accelerated decision making
- Integrates seamlessly with existing IT infrastructure through pre-configured adapter
Turbocharge your automated underwriting with 3PS
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*The information provided in this document does in no way whatsoever constitute legal, accounting, tax or other professional advice. While Hannover Rück SE has endeavoured to include in this document information it believes to be reliable, complete and up-to-date, the company does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such information.
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