Reimagining Commercial Lines Underwriting Workflows The heterogeneous and complex nature of commercial exposures, the quality of the data needed to support the risk pricing, and scarcity of new talent – all pose a challenge to smooth adoption of new-age technologies. This paper examines reasons why automation of commercial lines underwriting processes proves difficult and discusses… Continue reading
Augmenting Decision Support for Underwriting and Claims The unique human factor of subjective analysis influences claims and underwriting outcomes, and therefore, creates unintended variability of decisions and inconsistency with target guidelines for claim settlements and underwriting pricing. Limiting or mitigating that variability requires the use of predictive algorithms. Decision Support Services represent the convergence of… Continue reading
The Next-Generation Broker Operating Model For decades, commercial insurance organizations have been looking for ways to create efficiencies across multi-party transactions involving carriers, brokers and insureds. While significant advances in technology have made it feasible to integrate various industry participants seamlessly, there has been a lack of singular vision and a common architectural approach to… Continue reading
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… Continue reading
Whitepaper: The New Operating Model Strategic Operations Support (SOS) for the Evolving Needs of Insurance Organizations The whitepaper delves deeper into Strategic Operations Support (SOS) — a partner/service provider relationship which unifies profound insurance expertise, dexterous support in core insurance functions, and multifaceted understanding of emerging technologies — to improve the business proficiency of insurance… Continue reading
Strategic Operations Support (SOS) for Underwriting Our approach to underwriting is built on four key pillars, all of which constitute a higher degree of discipline for the underwriting process: expertise, efficacy, experience, efficiency. The 4E Framework is especially beneficial for insurance companies that use multiple underwriting methods; run disparate, disjointed policy administration systems; and don’t… Continue reading
Singular Solutions to Common Claims Problems There is a growing mountain of evidence suggesting technology and its applications will transform the processing of insurance claims to deliver significant business results. Interestingly, however, from the number of claims filed to the time and cost required to process them, from digitalization to policyholder expectations, the topic of… Continue reading
Connecting the Dots Services such as roadside assistance and home repair are add-ons or endorsements to insurance policies, historically requiring policyholders to contact dispatching or service centers to get help. But with modernization and digitalization, insurers are improving policyholder experiences. From websites and portals, to smart phones, tablets and mobile apps, insurers are providing policyholders… Continue reading
