Underwriting

AI will help automate repetitive tasks, improve accuracy, increase efficiency and enable actuaries to function as business strategists.

Businesses applying for coverage must abandon the myth of secrecy and provide much more information for underwriters.

In personal lines and small commercial, a high percentage of underwriting (risk selection) is done through straight-through processing.

AI has emerged as a formidable tool, particularly advancements in computer vision models and large language models.

Greater digitization and AI will create more unity among underwriting, data strategy and technology teams, eliminating silos.

Insurers are not only streamlining operations, they’re setting new benchmarks for efficiency, accuracy and personalized service.

ITL FOCUS is a monthly initiative featuring topics related to innovation in risk management and insurance.

In this month's ITL Focus, Paul Carroll interviews Jess Keeney, Duck Creek's Chief Product & Technology Officer, exploring the game-changing role of generative AI in underwriting and its implications for insurance technology and customer engagement.