TECHNICAL FIELD
[0001] The present disclosure generally relates to data integration. More specifically, the present invention relates to a centralized processing system for providing automated rule engine with end to end integration for underwriting.
BACKGROUND
[0002] Underwriting is one of the important processes in financial institutions, such as banks, insurance companies and investment houses, whereby they guarantee payment in case of any disease, damage or financial loss and accept the financial risk for liability arising from such guarantee. Underwriting is very important to protect any company's book of business from risks that may make a loss and issue insurance policies at a premium that is commensurate with the exposure presented by a risk.
[0003] An applicant's declaration for policy which may include various kinds of medical information, must be analysed before the insurance agency can choose to acknowledge the application. Underwriting process consists of performing field underwriting, reviewing the application for insurance, assembling the data to settle on a quality choice, and making an underwriting decision on the case.
[0004] The traditional way of performing underwriting involve significant expense in human asset, stockpiling cost, and desk work, along with a high turnaround time. It causes an underwriter to spend a long time to handle a new application, which is also error prone.
[0005] Thus, there exist a need in the improvement of technology where there is no need for the manual underwriting by the underwriters and the whole process is automated to make the process efficient, quick and error free.
SUMMARY

[0006] The present disclosure overcomes one or more shortcomings of the prior art and provides additional advantages discussed throughout the present disclosure. Additional features and advantages are realized through the techniques of the present disclosure. Other embodiments and aspects of the disclosure are described in detail herein and are considered a part of the claimed disclosure.
[0007] Exemplary embodiments are directed to the method and centralized processing system for an automated rule engine with end to end integration for underwriting. Particularly, for insurance underwriting, rules related to policies are deep integrated with declaration questionnaire directly such that all variables for the rules come directly from the questionnaire thereby eliminating any chances of error.
[0008] In one non-limiting embodiment of the present disclosure, the present disclosure discloses a method for providing an automated rule engine for underwriting. The method comprises transmitting a set of questionnaires to a user device for collating information associated with a user of the user device. The method further comprises receiving information from the user device, in response to the transmitted set of questionnaires and fetching a set of rules corresponding to the set of questionnaires from a database unit. The method further comprises processing the received information based on the set of rules fetched from the database unit and preparing a report rendering decision related to the underwriting for said user based on the set of rules and the received information. Lastly, the method describes transmitting said report to the user device.
[0009] In another non-limiting embodiment of the present disclosure, the present application discloses that the set of questionnaires are customizable from backend and options set in the questionnaires are used to create rules from the backend without incremental coding.
[0010] In another non-limiting embodiment of the present disclosure, the present application discloses that the received information comprises one or more answers to one or more questions of the set of questionnaires. The one or more answers

comprise at least one of demographic information, personal information, professional information, and health information.
[0011] In another non-limiting embodiment of the present disclosure, the present application discloses that the set of rules is configured according to one or more questions included in the set of questionnaires, wherein the set of rules is different for different set of questionnaires.
[0012] In another non-limiting embodiment of the present disclosure, the present application discloses that processing the received information comprises evaluating one or more parameters included in the received information based on one or more predefined parameters associated with the set of rules, and fetching relevant data from the database unit for preparing the report, in response to said evaluation.
[0013] In another non-limiting embodiment of the present disclosure, the present application discloses that the decision related to underwriting for said user includes at least one of: rejection of an insurance application, increased or decreased premium amount for the insurance application acceptance, exclusion of covered disease or accident or expenses under the insurance, acceptance of the insurance application, or decision to make manual underwriting.
[0014] In another non-limiting embodiment of the present disclosure, the present application discloses that a system to provide an automated rule engine for underwriting. The system comprises a database unit, an input/output (I/O) interface, and a processing unit communicatively coupled with the database unit and the I/O interface. The database unit stores a plurality of questions to be transmitted to a user device and a plurality of rules associated with the plurality of questions. The processing unit is configured to transmit a set of questionnaires to a user device, via the I/O interface, for collating information associated with a user of the user device, receive information from the user device, via the I/O interface, in response to the transmitted set of questionnaires, fetch a set of rules corresponding to the set of questionnaire from the database unit, process the received information based on a set of rules fetched from the database unit, and prepare a report rendering decision

related to the underwriting for said user based on the set of rules and the received information. The processing unit further configured to transmit, via the I/O interface, said report to the user device.
[0015] In another non-limiting embodiment of the present disclosure, the present application discloses that the set of questionnaires are customizable from backend and options set in the questionnaires are used to create rules from the backend without incremental coding.
[0016] In another non-limiting embodiment of the present disclosure, the present application discloses that the received information comprises one or more answers to one or more questions of the set of questionnaires, wherein the one or more answers comprise at least one of demographic information, personal information, professional information, and health information.
[0017] In another non-limiting embodiment of the present disclosure, the present application discloses that the system further comprise a configurator unit communicatively coupled to the processing unit. The configurator unit configures the set of rules according to one or more questions included in the set of questionnaires, wherein the set of rules is different for different set of questionnaires.
[0018] In another non-limiting embodiment of the present disclosure, the present application discloses that processing the received information comprises: evaluating one or more parameters included in the received information based on one or more predefined parameters associated with the set of rules, and fetching relevant data from the database unit for preparing the report, in response to said evaluation.
[0019] In another non-limiting embodiment of the present disclosure, the present application discloses that the decision related to underwriting for said user includes at least one of: rejection of an insurance application, increased or decreased premium amount for the insurance application acceptance, exclusion of covered

disease or accident or expenses under the insurance, acceptance of the insurance application, or decision to make manual underwriting.
OBJECTIVES OF THE INVENTION
[0020] An object of present invention is to provide method and centralized processing system for an automated rule engine with end to end integration for insurance underwriting.
[0021] Another object of present invention is to reduce time for making decision for policy.
[0022] Yet another object of the present invention is to provide a more efficient and accurate platform for insurance underwriting.
BRIEF DESCRIPTION OF THE DRAWINGS
[0023] The accompanying drawings, which are incorporated in and constitute a part of this disclosure, illustrate exemplary embodiments and, together with the description, serve to explain the disclosed embodiments. In the figures, the left-most digit(s) of a reference number identifies the figure in which the reference number first appears. The same numbers are used throughout the figures to reference like features and components. Some embodiments of system and/or methods in accordance with embodiments of the present subject matter are now described, by way of example only, and with reference to the accompanying figures, in which:
[0024] Fig. 1 illustrates an environment facilitating the present invention according to an embodiment of the present disclosure.
[0025] Fig. 2 is a block diagram of a system for automated rule engine for underwriting according to an aspect of the present invention.

[0026] FIG. 3 is a flow diagram illustrating the process of automating rule engine for underwriting according to an aspect of the present invention.
[0027] It should be appreciated by those skilled in the art that any block diagrams herein represent conceptual views of illustrative systems embodying the principles of the present subject matter. Similarly, it will be appreciated that any flow charts, flow diagrams, state transition diagrams, pseudo code, and the like represent various processes which may be substantially represented in computer readable medium and executed by a computer or processor, whether or not such computer or processor is explicitly shown.
DETAILED DESCRIPTION
[0028] In the present document, the word "exemplary" is used herein to mean "serving as an example, instance, or illustration." Any embodiment or implementation of the present subject-matter described herein as "exemplary" is not necessarily to be construed as preferred or advantageous over other embodiments.
[0029] While the disclosure is susceptible to various modifications and alternative forms, specific embodiment thereof has been shown by way of example in the drawings and will be described in detail below. It should be understood, however that it is not intended to limit the disclosure to the particular forms disclosed, but on the contrary, the disclosure is to cover all modifications, equivalents, and alternatives falling within the scope of the disclosure.
[0030] The terms "comprises", "comprising", "include(s)", or any other variations thereof, are intended to cover a non-exclusive inclusion, such that a setup, system or method that comprises a list of components or steps does not include only those components or steps but may include other components or steps not expressly listed or inherent to such setup or system or method. In other words, one or more elements in a system or apparatus proceeded by "comprises... a" does not, without more

constraints, preclude the existence of other elements or additional elements in the system or apparatus.
[0031] In the following detailed description of the embodiments of the disclosure, reference is made to the accompanying drawings that form a part hereof, and in which are shown by way of illustration specific embodiments in which the disclosure may be practiced. These embodiments are described in sufficient detail to enable those skilled in the art to practice the disclosure, and it is to be understood that other embodiments may be utilized and that changes may be made without departing from the scope of the present disclosure. The following description is, therefore, not to be taken in a limiting sense.
[0032] The present invention will be described herein below with reference to the accompanying drawings. In the following description, well known functions or constructions are not described in detail since they would obscure the description with unnecessary detail.
[0033] The present invention relates to a centralized processing system and method for providing an automated rule engine with end to end integration for underwriting. Particularly, for insurance underwriting, rules related to policies are deep integrated with declaration questionnaire directly such that all variables for the rules come directly from the questionnaire thereby eliminating any chances of error.
[0034] Referring to figure 1, a network 100 is disclosed which may include various elements such as a centralized processing system 102 and one or more user devices 104. The various elements such as the centralized processing system 102 and the one or more user devices 104 may communicate with each other through web presence 106. The network 100 may also include a database unit (not shown in figure). The network 100 may include one of the Internet, a local area network, a wide area network, an intranet, a peer-to-peer network, and/or other similar technologies for connecting various elements.

[0035] The centralized processing system 102 provides an automated rule engine for underwriting. The system 102 may communicate with a user device 104 to obtains information related to a user of the user device 104. Further, the system 102 may process the obtained information based on a set of rules to prepare a report rendering decision related to the underwriting for said user based on the set of rules and the obtained information. The set of rules may be stored in the database unit 108. According to an exemplary embodiment, the database unit 108 may be present in the network 100 or may be present within the system 102. Further, the system 102 may transmit the prepared report to the user device 104 via web presence 106. This embodiment is described in more detail in the below paragraph. According to an exemplary embodiment, the system 102 may be used by backend user for configurating the system 102 as per the requirement.
[0036] Referring to figure 2, an exemplary centralized processing system 102 is disclosed for providing automated rule engine for insurance underwriting. The system 102 may comprise an input/output (I/O) interface 202, a processing unit 204, a configurator unit 206, a memory 208 and a database unit 210. The processing unit 204 may further comprise one or more controller and a memory. In an aspect, various elements/entities of the centralized processing system 102 may communicate with each other over wired or wireless link. In fig. 2, only one processing unit is shown for the sake of ease and should not be construed as limiting the scope and multiple processing unit/controllers may be present in the centralized processing system 102. According to an exemplary embodiment, the database unit 210 may be a part of the memory 208. The database unit 210 stores a plurality of questions to be transmitted to a user device and a plurality of rules associated with the plurality of questions.
[0037] According to an exemplary embodiment of the present disclosure, the processing system 102 may transmit a set of questionnaires or declaration form to the user device 104 via the I/O interface 202. In an embodiment, the questionnaire or declaration form may be pre-generated which are stored in the database 106 or may be customizable from the backend. This enables modifications and additions in

the questionnaire or declaration form without any incremental coding. The questionnaire or declaration form may be customized as per the user's requirement or interest. Therefore, such customization makes the system more efficient and user friendly.
[0038] According to an embodiment, the configurator unit 206 may comprises a Rule Configurator module 212 and a Questionnaire Configurator module 214, which are communicatively coupled to each other and other entities such as the processing unit 204 and the database unit 210. The rule configurator module 212 may automatically configure the set of rules to be applied based on the questions in the questionnaire and the information received from the user in response to the questionnaire. Such configuration of rules does require any additional coding or any human intervention. Thus, such configurations improve the efficiency of the system, improve the accuracy and automate the process. In another embodiment, the questionnaire configurator module 214 enables change in questions of the questionnaire without any coding and human intervention. Both the configurators i.e., the rule configurator module 212 and the questionnaire configurator module 214 are integrated with each other and works in conjunction with each other from backend to enable the auto-configuration of rules and questionnaire to improve the efficiency and accuracy of the system 102. Whenever there is change in the questionnaire, the rule configurator module 212 may access the database unit 212 to configure the corresponding rules based on said change in the questionnaire, from backend without incremental coding.
[0039] The user of the user device 104 may provide the information as required in the set of questionnaire/declaration form via the I/O interface 202 for further processing by the processing unit 204 of the centralized processing system 102. The centralized processing system 102 may receive information from the user device 104 in response to the transmitted set of questionnaires via the I/O interface 202. The centralized processing system 102 may store the received information in the memory 208. The received information comprise one or more answers to one or more questions of the set of questionnaires, wherein the one or more answers may

comprise at least one of following demographic information, personal information, professional information, and health information, etc., but not limited thereto.
[0040] The system 102 may fetch a set of rules corresponding to the set of questionnaires from the database unit. The configurator unit 206 which is communicatively coupled to the processing unit, configures the set of rules according to one or more questions included in the set of questionnaires. Therefore, the set of rules is different for different set of questionnaires. In this manner, the system 102 may create rules as per the customized questionnaire or declaration form. In an exemplary embodiment, the rules may be pre-created and as per the customization in the questionnaire or declaration form, the set of applicable rules may be selected for making the decision. In an exemplary embodiment, the rules are related to declaration by the users such as declaration about the health, medical diseases, accidents, past or on-going treatments and consumption of alcohol, blood pressure level etc., but not limited hereto. For example, the rule may be that if consumption of alcohol is beyond a limit then, the insurance may not be done, or the premium for the insurance may be increased.
[0041] Further, after fetching the set of rules, the processing unit 204 may process the information received from the user device 104 based on a set of rules fetched from the database unit. The processing unit 204 may process the received information by evaluating one or more parameters included in the received information based on one or more predefined parameters associated with the set of rules and fetching relevant data from the database unit for preparing the report. In a non-limiting exemplary embodiment, the one or more parameters may be any of following: a number of days of alcohol consumption in week, name of diseases, profession/occupation of the user, etc., but not limited thereto.
[0042] Based on the processing, the system 102 may prepare a report rendering decision related to the underwriting for said user based on the set of rules and the received information and may transmit the report to the user device 104 via teg I/O interface 202. In an exemplary embodiment, the decision related to underwriting for

said user includes at least one of: rejection of an insurance application, increased or decreased premium amount for the insurance application acceptance, exclusion of covered disease or accident or expenses under the insurance, acceptance of the insurance application, or decision to make manual underwriting, but not limited thereto.
[0043] For explaining the embodiments defined in paragraphs [0036]- [0041], let us consider a scenario where the least one of the declarations is related to alcohol consumption. For example, the questionnaire may include a question such as "how many days in a week do you drink alcohol?". The user may be provided options from 0, 1, 2...7 to provide the answer. Let us consider that user declared that he consumes alcohol every day i.e. 7. Another question may be "how much alcohol do you consume?". The user may be requested to enter the volume of alcohol being consumed by him. Let us consider that user declared that he consumes 80ml/day or 550ml/week. Now, the system 102 may analyse the same and may determine that the total quantity of alcohol consumption exceeds the threshold which may be 200ml/week. Hence, the system 102 may make a decision to reject the application.
[0044] In another scenario, the user may declare that he consumes alcohol 3 days in week. The centralized processing system 102 may process the same and may determine that the user's consumption of alcohol is on higher side as per their policy. In such scenario, the centralized processing system 102 may not reject the application and accept the application subject to some terms and condition. For example, these terms and conditions may include increased premium, exclusion of disease covered or less claim amount, etc., but not limited thereto.
[0045] In this manner, the centralized processing system 102 may provide an automated rule engine with end to end integration for underwriting. In case, the user changes his declaration then the corresponding rules to be applied may be customized accordingly, without human intervention. Therefore, the centralized processing system 102 eliminates the chances of error and makes the compete process more efficient and less time taking. For example, let us consider a scenario

where a user initially declare that he does not consume alcohol. Accordingly, the centralized processing system 102 will not run the rule related to alcohol against the declaration of the user to provide the final result for the policy. However, later on user declares that he consumes alcohol. In such scenario, the centralized processing system 102 will customize the set of rules to be executed against the declaration of the user to include the rules related to alcohol in order to provide the final result.
[0046] Figure 3 discloses a method 300 for providing automated rule engine with end to end integration for underwriting. At step 302, a set of questionnaires is transmitted to a user device 104 via I/O interface 202 by the system 102 for collating information associated with a user of the user device 104. At step 304, information from the user device is received in response to the transmitted set of questionnaires. According to an exemplary embodiment, said received information may comprises one or more answers to one or more questions of the set of questionnaires, wherein the one or more answers comprise at least one of following: demographic information, personal information, professional information, and health information, etc., but not limited thereto.
[0047] At step 306, the method 300 describes that a set of rules corresponding to the set of questionnaires is fetched from a database unit. The set of rules is configured according to one or more questions included in the set of questionnaires, wherein the set of rules is different for different set of questionnaires. According to an embodiment of the present disclosure, the set of questionnaires and the set of rules are customizable from backend.
[0048] At step 308 of the method 300, the received information is processed by the processing unit based on the set of rules fetched from the database unit. According to an embodiment of the present disclosure, processing the received information comprises evaluating one or more parameters included in the received information based on one or more predefined parameters associated with the set of rules and fetching relevant data from the database unit for preparing the report, in response to said evaluation. In a non-limiting exemplary embodiment, the one or more

parameters may be any of following: a number of days of alcohol consumption in week, name of diseases, profession/occupation of the user, etc., but not limited thereto.
[0049] The method 300 at step 310 describes that a report rendering decision related to the underwriting for said user is prepared by the processing unit based on the set of rules and the received information. Further, at step 312, said report is transmitted to the user device 104 by the system 102 via the I/O interface 202. According to an embodiment, the decision related to underwriting for said user includes at least one of: rejection of an insurance application, increased or decreased premium amount for the insurance application acceptance, exclusion of covered disease or accident or expenses under the insurance, acceptance of the insurance application, or decision to make manual underwriting.
[0050] In this manner, an automated rule engine with end-to-end integration for underwriting is provided. It eliminates the chances of error and makes the compete process more efficient, accurate and less time taking.
[0051] The illustrated steps are set out to explain the exemplary embodiments shown, and it should be anticipated that ongoing technological development will change the manner in which particular functions are performed. These examples are presented herein for purposes of illustration, and not limitation. Further, the boundaries of the functional building blocks have been arbitrarily defined herein for the convenience of the description. Alternative boundaries can be defined so long as the specified functions and relationships thereof are appropriately performed.
[0052] Alternatives (including equivalents, extensions, variations, deviations, etc., of those described herein) will be apparent to persons skilled in the relevant art(s) based on the teachings contained herein. Such alternatives fall within the scope and spirit of the disclosed embodiments.
[0053] Furthermore, one or more computer-readable storage media may be utilized in implementing embodiments consistent with the present disclosure. A computer-

readable storage medium refers to any type of physical memory on which information or data readable by a processor may be stored. Thus, a computer-readable storage medium may store instructions for execution by one or more processors, including instructions for causing the processor(s) to perform steps or stages consistent with the embodiments described herein. The term "computer-readable medium" should be understood to include tangible items and exclude carrier waves and transient signals, i.e., are non-transitory. Examples include random access memory (RAM), read-only memory (ROM), volatile memory, non¬volatile memory, hard drives, CD ROMs, DVDs, flash drives, disks, and any other known physical storage media.
[0054] Suitable processors/controllers include, by way of example, a general purpose processor, a special purpose processor, a conventional processor, a digital signal processor (DSP), a plurality of microprocessors, one or more microprocessors in association with a DSP core, a controller, a microcontroller, Application Specific Integrated Circuits (ASICs), Field Programmable Gate Arrays (FPGAs) circuits, any other type of integrated circuit (IC), and/or a state machine.

We Claim:
1. A method for providing an automated rule engine for underwriting, the
method comprising:
transmitting a set of questionnaires to a user device for collating information associated with a user of the user device;
receiving information from the user device, in response to the transmitted set of questionnaires;
fetching a set of rules corresponding to the set of questionnaires from a database unit;
processing the received information based on the set of rules fetched from the database unit;
preparing a report rendering decision related to the underwriting for said user based on the set of rules and the received information; and
transmitting said report to the user device.
2. The method as claimed in claim 1, wherein the set of questionnaires are customizable from backend and options set in the questionnaires are used to create rules from the backend without incremental coding.
3. The method as claimed in claim 1, wherein the received information comprises one or more answers to one or more questions of the set of questionnaires, wherein the one or more answers comprise at least one of demographic information, personal information, professional information, and health information.
4. The method as claimed in claim 1, wherein the set of rules is configured according to one or more questions included in the set of questionnaires, wherein the set of rules is different for different set of questionnaires.
5. The method as claimed in claim 1, wherein processing the received information comprises:

evaluating one or more parameters included in the received information based on one or more predefined parameters associated with the set of rules; and
fetching relevant data from the database unit for preparing the report, in response to said evaluation.
6. The method as claimed in claim 1, wherein the decision related to underwriting for said user includes at least one of: rejection of an insurance application, increased or decreased premium amount for the insurance application acceptance, exclusion of covered disease or accident or expenses under the insurance, acceptance of the insurance application, or decision to make manual underwriting.
7. A system to provide an automated rule engine for underwriting, the system comprising:
a database unit, wherein the database unit stores a plurality of questions to be transmitted to a user device and a plurality of rules associated with the plurality of questions;
an input/output (I/O) interface; and
a processing unit communicatively coupled with the database unit and the I/O interface, wherein the processing unit is configured to:
transmit a set of questionnaires to a user device, via the I/O interface, for collating information associated with a user of the user device;
receive information from the user device, via the I/O interface, in response to the transmitted set of questionnaires;
fetch a set of rules corresponding to the set of questionnaire from the database unit;
process the received information based on a set of rules fetched from the database unit;
prepare a report rendering decision related to the underwriting for said user based on the set of rules and the received information; and
transmit, via the I/O interface, said report to the user device.

8. The system as claimed in claim 7, wherein the set of questionnaires are customizable from backend and options set in the questionnaires are used to create rules from the backend without incremental coding.
9. The system as claimed in claim 7, wherein the received information comprises one or more answers to one or more questions of the set of questionnaires, wherein the one or more answers comprise at least one of demographic information, personal information, professional information, and health information.
10. The system as claimed in claim 7, wherein the system further comprise a configurator unit communicatively coupled to the processing unit, wherein the configurator unit configures the set of rules according to one or more questions included in the set of questionnaires, wherein the set of rules is different for different set of questionnaires.
11. The system as claimed in claim 7, wherein processing the received information comprises:
evaluating one or more parameters included in the received information based on one or more predefined parameters associated with the set of rules; and
fetching relevant data from the database unit for preparing the report, in response to said evaluation.
12. The system as claimed in claim 7, wherein the decision related to
underwriting for said user includes at least one of: rejection of an insurance
application, increased or decreased premium amount for the insurance application
acceptance, exclusion of covered disease or accident or expenses under the
insurance, acceptance of the insurance application, or decision to make manual
underwriting.