Underwriting

Automating repetitive tasks can streamline workflows and allow for data-driven decisions with greater accuracy and speed.--but getting to scale can be tricky.  

Historical data offers outdated information. Real-time data keeps you informed of changes to a policyholder’s risk profile, letting you adjust premiums. 

Here are five ways to use insurance data to gain insights on claims, underwriting, marketing, and operations and gain a competitive advantage.

New product technology are addressing the traditional pain points of data analysis, model development, and risk assessment for life insurance actuaries.

Embracing automation is key for underwriters to keep pace with the industry's growing demands for advanced risk assessment solutions.

Large language models will let insurers onboard, renew and service risks at close to zero marginal cost, underpinned with consistent control over risk selection. 

Technology is getting more sophisticated about all parts of the process, from targeting prospects for ads all the way through paying claims.

The future is looking bright thanks to AI and business rules engines, which greatly reduce menial tasks and let underwriters take on more strategic issues.