Underwriting

Finding the right partners allows for new business models and improvements in core competencies, accelerating growth. 

We’ll see a level of collaboration — and efficiency and transparency — that we’ve never seen before. 

Here’s why I believe the insurance industry should look at the exodus of underwriting talent as an opportunity instead of a crisis. 

While fraud detection has historically been a manual process relying on human analysts, technology can now automate and enhance the work. 

With AI handling data processing, information retrieval and automated recommendations, underwriters can reinvent their role.

Imagine an application programming interface that retrieves weather records or property information instantly, eliminating the need for manual data entry. 

A broad survey found that 77% of senior executives said they are in some stage of adopting AI, up 16 percentage points from a year ago.

Michael Reilly, a managing director at Accenture, says underwriters only actually underwrite for 30% of their day -- but can soon get to 60%.