Articles - Solve The Top 3 Challenges In Underwriting


It’s not a secret that underwriting processes can be mundane, inefficient and unproductive. Intensive manual tasks, such as sourcing data, sorting data and filtering through submissions, require much time, energy and effort. The most profitable underwriters understand how to overcome these challenges while reducing high operating costs for insurers, improving risk determination, and providing exceptional customer experience.

  
 
  
 Chief Underwriting Officers from Europe’s Leading Insurers Unite for the Industry’s Biggest Underwriting Event of the Year
  
 How do you gain this competitive advantage? That is where Underwriting Innovation Europe comes in! Leading expert speakers from Zurich, AXA, Hamilton Group, Aviva, Swiss Re, SCOR, Allianz, and many more, will be giving you a roadmap on the future of underwriting.
 
 Sign up to event by clicking here—it’s free for insurers
 
 Here is a sneak peek of three of the hot sessions taking place across the massive three-day agenda:
  
 The Future Of Underwriting Data Management: Effectively Leverage Internal, External And Unstructured Data To Support Augmented Underwriting, Better Pricing And Portfolio Optimisation
 
 • Explore what the ideal future of augmented underwriting looks like and identify the right tools allowing for incorporation of third party data into the traditional legacy environment
 • Recognise the role of advanced machine learning, cloud-based software-as-a-service technology, data lakes and data stores, in effectively augmenting data from third party sources, resulting in a more efficient underwriting process overall, with less time spent re-keying data, testing for quality and standardising data
 • Leverage non-traditional data sources and understand how to overcome the rigidity of legacy systems through augmentation, supporting improved flexibility and leading to better insights, reduced loss ratios and improved pricing
 • Reduce friction arising from variability in data quality to improve pricing determination
 Consider the challenges and opportunities associated with carrier development of insurtech infrastructure and discover how this can overcome limitations with the fundamental functionalities and specified formats of legacy systems
 • Discuss how partnerships and better collaboration between stakeholders in product development stage can achieve better policies and improve customer satisfaction

  
 Speaker:
 Jason Chambers, Chief Underwriting Officer–SME, Aviva
 
 Maintain Competitive Edge And Future-Proof Profitability In Your Underwriting Business Through Modernisation And Innovation
 
 • Explore new and emerging innovations that are set to disrupt the future of underwriting and identify which technologies are showing the most promise for radical transformation and enhancement of productivity
 • Debate how the COVID-19 pandemic has impacted the insurance landscape and discuss how digital tools such as the internet of things, artificial intelligence, machine learning, and Web3 will transform underwriting business post-pandemic
 • Hear how to overcome barriers to digital transformation and gain insight into best practice tactics to successfully implement advanced technologies within traditional underwriting systems and gain insight into how to overcome common implementation challenges, leading to enhanced profitability
 • Consider regulatory challenges associated with exponential tech integration, and understand how to deploy innovation while operating within regulatory frameworks, for efficiency and compliance

  
 Speaker:
 Etienne Champion, CUO, APAC & Europe, AXA XL
 
 Transform Underwriting Capability, Improve Productivity And Enhance Productivity With Data-Driven Decision-Making And A Data-Driven Culture
 
 • Recognise how to leverage data science and advanced data analytics to radicalise the underwriting process, gain portfolio insights and improve underwriting productivity in a hard market
 • Hear the latest innovations that support next generational underwriting, leading to better opportunity analysis and dynamic pricing
 • Consider how emerging advanced technology such as blockchain, shared ledger technology and the internet of things may disrupt the underwriting process and identify these opportunities and challenges
 • Explore how open APIs can enable carriers to optimise and accelerate underwriting decisions through automating data collection and enhancing the submissions process
 • Identify the challenges underwriters, brokers, agents, actuaries, and managing general agents face regarding API interoperability, and explore solutions to reduce friction and improve data flow efficiency
 • Discuss how underwriting stakeholders and data scientists can work more effectively together to make better pricing and risk decisions

  
 Other speakers on the agenda:
 Anshul Srivastav, Chief Insurance Officer, Union Insurance
 Doug Robare, Chief Underwriting Officer, Coverys European Holdings
 Claudio Morando, Head Portfolio Analytics & Strategy EMEA, Swiss Re
 Moderator: Hélène Stanway, President and Market Engagement Advisor–London Market Data Council, SENSE Consortium & Lloyd’s Market Association
 
 Find out what other key sessions we have in store for you here
  
 No other conference on the insurance calendar brings together so many underwriting experts and focuses purely on underwriting transformation, so if you want to understand how to transform your strategy and improve performance, register today!
  
 400 people have already booked their tickets! This is an event you simply cannot afford to miss.
 
 Secure your access to Underwriting Innovation Europe now by clicking here
  
 Warm regards,
  
 Ruth
  
 Ruth Anidugbe
 Senior Conference Producer
 Intelligent Insurer
 Direct line: +44 (0)203 3018212
 Email: ranidugbe@newtonmedia.co.uk
  
 
 
 
  
  
 
  

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