Underwriting

96% of insurer executives see personal lines underwriting undergoing significant changes within five years – remarkable given the shifts that have already occurred.

Eighty-nine percent of insurers are planning or applying automated workflow technologies to their small business operations.

In this webinar, we explore a different way of looking at how to improve underwriting; focusing on the needs of the underwriter, not just on the process.

Open the black box and combine analytics with underwriter expertise to evaluate the computer’s conclusions and where the information comes from.

87% of insurers said in a survey that they expect big changes to occur in underwriting within the next five years. In 2020, only 69% said the same.

Why have reinsurers' facultative underwriters wait until an insurer has finished its process? Why not consult as experts across an ecosystem? 

Many underwriting leaders, amid the industry’s growing focus on expenses, growth and analytics, have taken their eye off the ball of traditional underwriting quality.

The average underwriter spends 40% of their time on administrative tasks, 30% on negotiation and sales support and only 30% on actual underwriting.