Lower turnaround time for accurate quotes, enhance the risk evaluation and selection processes, arrive at accurate prices, and improve broker and policyholder experience through a streamlined underwriting process.
Evolving market conditions, changing competitive landscape, and the complex and heterogeneous nature of commercial exposures create a few challenges for insurers. These include low quality or highly unstructured data, the subjective and judgment-dependent nature of risk pricing, and the complexities inherent to the risk assessment process. An underwriter’s effectiveness is linked to their ability to conduct in-depth analysis, make sound forecasts, and exercise good judgment. This requires efficient collation, ingestion, and processing of data, robust claim review, and robust risk profile evaluation processes. These can be achieved efficiently through simplified loss aggregation, compiling information on historical and projected exposures, facilitating exposure classification, streamlining documentation through database maintenance, performing in-depth loss cost analysis on an industry-wide basis, and automating repetitive processes.
Xceedance underwriting services help improve risk management processes and increase the accuracy of quotes. Our underwriting solutions leverage analytics to facilitate exposure compilation, analysis of loss run reports, and data accuracy checks to provide pre-quote analysis, allowing underwriters to focus on more critical tasks. Among others, our offerings include risk assessment, data analysis, underwriting reports, process automation, product development support, and portfolio analysis. Overall, our dedicated team can help reduce dependency on subjective analysis through predictive analytics, superior data management, and automation.
Download the brochure to learn more about Xceedance underwriting services.
