Automation implies labor-saving steps, which is usually followed by layoffs. So it should come as no surprise that some underwritersdon’t look kindly on automated underwriting solutions since the perception that has arisen is that the role of the underwriter is shrinking.
But at least one industry analyst looks at underwriting automation for commercial lines as a way to augment the talents of underwriters and provide them more information to improve the decision process.
Carriers also need to take their underwriting guidelines beyond paper, points out Smallwood.
“Collaboration and sharing means having an underwriting work station and the agent portal share information and communicate beyond paper, email and phone,” she says.