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Jamie Yoder, managing partner of Diamond Consulting’s insurance practice

As we know, investing in a technology alone will not save money–it is the appropriate application of that technology that makes it valuable as a cost saver. For example, intelligent rules-based workflow will help cut costs in the underwriting process, but this requires fine-tuning so administrative time and associated costs are significantly reduced and underwriters are allowed to refocus the majority of their time on actual underwriting and spending quality time with agents/brokers.

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