The data should be reconstructed to enable the underwriter to apply the selection criteria efficiently. With the intervention and support of technology, that step can be accomplished by producing a dynamic captioned risk profile report which becomes a part of the submission.
One key objective of the insurance submission is to gain the attention of the underwriter — by highlighting those criteria that are most important to the insurance company’s underwriting strategy; and by simplifying the review and interpretation of risk factors, to enable a quick decision to proceed or decline the submission. The documents containing such critical data points can be encapsulated in three categories: applications, schedules and loss summaries. However, the construction of those documents can make them difficult to read and decipher, resulting in frustration and reduced interest.