Surety Pre-Underwriting Analysis


Surety Pre-Underwriting Analysis

Business Requirements

A prestigious specialty insurance carrier needed to set up a pre-underwriting analysis practice to analyze the credit risk for its surety product clients. The solution required a detailed understanding of the surety business and a knowledge of the underwriting philosophy of the carrier.

Project Team

A team of Xceedance subject matter experts was formed with proficiency in surety bonds, and skilled in performing detailed financial and credit risk analysis of large, multinational corporations in need of surety capabilities.

Development and Delivery

After an initial training period to understand the interpretation of energy exposures, Xceedance transferred more than 350 policies into the Impact platform within 12 weeks. Xceedance followed a phased methodology, first scrubbing all onshore and offshore policies. The team then created finalized import templates and files. Those could be used across all accounts ensuring full capture of all coverages, values and location details.

Tools and Technology

Xceedance integrated the Thomson Reuters Financial Analysis tool to automate and expedite the creation of financial analysis models. The integration also resulted in consistent spreading of financial data and quick turnarounds. Various automation tools were introduced into the models to enhance consistency and accuracy of financial data.

Overcoming Challenges

Xceedance was involved in formulating the underwriting methodology and with assisting underwriters on decision making to underwrite quality risks. Operational efficiencies were increased by using advanced technology.

Success Factors

Since the launch of the product, Xceedance has helped the carrier process increased volumes and handle geographical expansions without adding resources. Underwriters have been able to focus more on business development, while leveraging the Xceedance team for credit risk assessment. The automation solutions have also significantly reduced turnaround times.


The Xceedance team has delivered pre-underwriting analysis for a number of large multinational public insurers and private carriers worldwide. With support from Xceedance, carriers have achieved faster and more efficient decision making, and have reduced their indemnity losses with tools and technology to underwrite quality risk. The integration of various tools such as the Thomson Reuters Financial Analysis helped in reducing turnaround times — in some cases from a couple of days to under a few hours.

Voice of the Customer

“We appreciate the comprehensive Xceedance approach to build the credit review paper. I find it very easy to navigate to points of interest and delve into the details. The expertise of Xceedance in credit analysis and credit risk assessment is commendable.”