Applying Technology and Human Touch to Build the Ideal 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.
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.