Filed Under:Carrier Innovations, Technology Solutions

Embracing Automated Underwriting

Commercial lines are up next for property & casualty insurers.

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.

Featured Video

Most Recent Videos

Video Library ››

Top Story

PIA's national president was born to insure

Robert W. Hansen Jr., a fourth-generation insurance professional, reflects on what drives him to keep selling after more than 30 years in the business.

Top Story

Taiwan earthquake collapses two high-rises. Shoddy construction investigated

The Taiwanese government has ordered an investigation into a building's collapse, as images show tin cans built into the walls of the toppled complex.

More Resources

Comments

eNewsletter Sign Up

Carrier Innovations eNewsletter

Critical news on the latest tech solutions, information security, analytics and data tools and regulatory changes to help decision-makers at insurance carriers keep their business thriving – FREE. Sign Up Now!

Mobile Phone

Advertisement. Closing in 15 seconds.