Reimagining Commercial Lines Underwriting Workflows
Undoubtedly, underwriting decides the quality of business that’s taken on by a carrier. Acing at underwriting is the only way for an insurance carrier to outperform the market – both in terms of customer experience and risk reduction. Automating commercial underwriting processes is fraught with challenges, but insurers committed to building profitable businesses need to undertake that task by adopting the right strategy. When carriers base the transformation on strategic levers presented in the paper, they can achieve the expected returns on investment (ROI) on transformation initiatives with minimal hitches, and experience lower turnaround times on quotes, better risk selection, and more accurate pricing.