FAQ

1. 1. Does Resonant have a Straight-Thru-Processing solution that is cost effective ?

   Resonates Guideline Modeler allows companies to see the full picture in advance, a critical element of any STP strategy. The ability to conduct Guideline Modeling-before, during and after product launch-reduces costs substantially and lowers underwriting and organizational risk. This is done with minimum burdening of the IT Department.

2. 2. How can Resonant help my underwriting process?

   Resonant offers a simple, fast and objectively focused solution to improving the underwriting processing function.

   Our products are built on a new and powerful architecture designed specifically to manage complex business functions such as the underwriting/client acquisition process.

   By tracking all operational and execution activities, managers have comprehensive process visibility that enables analysis, refinement and improvements in cost, cycle time, agent and customer satisfaction and long-term results. Manual work is constrained and proactively assisted, while redundancies and non-value adding process steps are eliminated.

   The ability to track and monitor the processing environment with up-to-the minute objective information is greatly improved, enabling better control and governance of your processes and business.

3. 3. Will I need to replace my existing IT infrastructure?

   No. our solution does not require replacement of your existing IT infrastructure and can be implemented incrementally, unlike existing automation technology available from other vendors. Resonant requires no upfront detailed modeling or mapping of your existing processes, workflows or measurements resulting in an implementation timeline of three months or less.

4. 4. Does it make it easier to change my underwriting guidelines to introduce new products?

   Yes. Unique to Resonant’s products is the ability to be implemented quickly and without change to your existing processing environment, workflow or the guidelines that drive your processes. Objective data will become available quickly so that improvement opportunities can be identified, analyzed and implemented accordingly and early.

5. 5. How long is the start-up period?

   Development, testing and integration of Resonant’s application can usually be accomplished in approximately three months. Your new system will be able to go "live" and you can begin identifying opportunities for improvement immediately thereafter.

6. 6. Can the Resonant Life Solutions help me to improve underwriting results?

   The simple answer is yes

   • By providing unprecedented visibility into the details of the day-to-day operations, it enables the identification and analysis of decisions, guideline deviations, ad-hoc interactions, resource utilization and refinement opportunities.

   • As progress is made, it assists the underwriter through the assessment and rating effort, suggesting actions, detecting conflicts and dependencies, alerting to risk factors and regulatory requirements and finally by presenting consistent options.

   • Non-adherence to underwriting guidelines, failure to meet regulatory requirements and inaccurate underwriting assessments are easily identified so that appropriate action can be taken.

   • Management is provided with granular performance indicators about all aspects of the underwriting process, enabling continuous process improvement.

7. 7. Is the Resonant solution a "rules engine"?

   No. Resonant Life Solutions offers process and decision support applications for the life insurance underwriter, manager and executive. The technology is specifically designed to substantially improve the discipline and productivity of underwriting practices and results.

   Resonant Life Solutions is neither a "rules engine" nor "expert technology."

   We understand the underwriting function and know that one of the key challenges in risk evaluation is that the severity of the risk factors cannot be described in simple yes/no terms. Additionally, when there are multiple risk factors with varying degrees of severity and interaction between them, the challenge becomes even greater. Our system does not attempt to replace the underwriter. Rather, we developed tools that will assist the underwriter in assessing risks more efficiently and consistently, and support managers with objective and accurate information tracking so that overall controls and performance can be improved.

   Earlier "expert systems" have now given way to "rules engines" that are essentially only the "expert systems" upgraded." None of today’s rules engines or their earlier predecessors can make a true underwriting assessment. In fact, after extensive programming and training, these systems cannot do much more than separate black and white case decisions (not needing underwriting) from the gray areas (needing underwriting attention). The constant need for updating rules engines makes ownership very costly. Typically all of the rules that drive the process cannot be captured, resulting in more costly exception processing for some portion of the cases.

   Rules engines are typically separate systems outside the process, designed to focus on a single task. Our product is integrated into the overall process so that it captures activities, supports processing and presents objective based alternatives.