MGAs and E&S carriers are thriving, and they have lots of runway in front of them. They can continue to exploit their deep understanding of market niches, can drive efficiencies in the often-cumbersome underwriting process and can increasingly fit into insurers' processes by being at the forefront of APIs.
ITL Partner: Intellect AI
Intellect AI is an insurtech Transformation Partner with contemporary AI and ML solutions, data insights triangulated from thousands of sources, and agile technology, data science and consulting teams – taking a strategic approach to tackling the biggest challenges for insurance. We are a proven leader in Data First Strategy for Commercial/General Underwriting. As a core technology transformation partner, we have successfully driven one of Europe’s largest data migrations.
Our underlying technology powers sophistication with simplicity ensuring an engaging and insightful user journey. Our AI cloud native products are known to address the most complex business objectives with the highest accuracy of outcome. Our skilled technical experts and data scientists seamlessly augment our customer teams to accelerate their transformation journey easily adapting as business models and technology evolves.https://www.intellectai.com/
Commercial Lines Profitability: Transform Underwriter experiences to transform your business
IntellectAI collaborated with Aite-Novarica on a recent webinar designed for underwriting and technology leaders who want to create a legacy of profitability. Carriers and MGAs continue to struggle with finding a balance between reducing legacy policy admin debt and choosing to arm their underwriters with time-consuming underwriting processes making it impossible to rapidly respond to broker and customer expectations. What underwriting and technology leaders owe their underwriters is a unified platform that can manage new business, renewals and midterm changes, all in one place. This is a place where AI, process, people, guidelines, insights and work truly align to create an environment where underwriters can focus on the right portfolio mix to win profitably.
How to lay the groundwork for digital transformation innovation in commercial underwriting
IntellectAI and ITL’s Paul Carroll discuss how companies can lay the groundwork for modernization and innovation by reconfiguring their approach to core systems. The session talks about why changes in the business environment require a modernized approach to underwriting; how carriers can vastly increase the speed at which they deliver capabilities and new systems – cutting deployment times to hours or days, from weeks or months, while delivering a clear ROI and how to make better buy-vs-build decisions.