85% of customers are not satisfied with the speed of the underwriting process (Accenture). A fast, smooth process is crucial for customer satisfaction and retention, so what can you do to make your underwriting process more efficient and effective?
Find out in Reuters Events new report: ‘Augmenting the Underwriter’ – download here.
Reuters Events have produced an all-encompassing ‘how to’ report, combining the thoughts from experienced underwriting leaders with facts and figures from industry surveys to guide you through the challenges of successful underwriting automation.
Featuring viewpoints from leading underwriting transformation experts:
- Gerry Heare, Chief Underwriting & Strategy Officer, Grange Insurance
- Ben Davidson, VP & Chief Life Underwriter, USAA
- Wendy Crosley, Global Director of Underwriting Automation and Transformation, WTW
- Lee Fluharty, Chief Underwriter, Nationwide
- Jason Render, SVP & Head of Magnum Americas, Swiss Re
- Nanditha Nandy, Head of Data Driven Underwriting Solutions for the Americas, Swiss Re
Here’s a glimpse of what’s included…
- “The customer is already expecting automated underwriting. […] Our customers expect instant decisions. Our customers expect a similar process to getting a credit card, but we do not have the ability to reprice if we make a mistake.” – Benjamin Davison, Vice President & Chief Life Underwriter, USAA Life
- “It’s really clear to us that automated underwriting is a powerful way to lower cost. […] It also maximizes our workforce productivity in a time that we really need that to happen, and it generates more revenue without increasing our tolerance for risk.” – Gerry Heare, SVP Commercial Lines Strategy & Chief Underwriting Officer, Grange Insurance
- “Automation frees up underwriters from menial administrative tasks so that they can dedicate more time to creative problem solving and the strategic aspects of their role.” – Wendy Crosley, Global Director of Underwriting Transformation & Automation, WTW
Click here now to access the stats and findings!
P.S. – Did you know? – the insurance industry produced nearly 65 zettabytes of data in 2020, which is about 70 trillion gigabytes of data. With such huge quantities, it won’t be an easy task to automate collection and usage, but it is undoubtedly the future.