How to Use AI & Automation for Transforming Insurance Underwriting: Leading Practices & Strategies
With the ongoing pandemic showing no signs of weakening, insurers continue to get cornered due to rising expectations for lightning-fast quoting, ultra-accurate risk management, and high underwriting productivity. All insurers who run manually intensive underwriting are at most risk in responding to this challenge.
Talking of an example, the broker submission process in most insurance companies is manual, can take weeks to complete, and eventually leads to business loss. With the rise of digital technologies-based text ingestion, risk and pricing models, data remediation, and workflows, many insurers have automated this process. End result? Lower loss ratios, net-new business growth, and high underwriting productivity.
But how should they go about using digital to build a roadmap for this transformation?
Join us for this interesting discussion as top tech and insurance industry experts from Microsoft, Aite-Novarica Group, and Birlasoft explain how to use digital technologies to transform your underwriting and drive phenomenal revenue growth and efficiency.
What’s on the Agenda
• The current state of insurance underwriting
• The anatomy of efficient insurance underwriting
• How AI and automation can transform broker submissions
• How to build and execute your submission automation roadmap with a positive RoI