Double submission throughput and reduce the cost to acquire new business by automating data prep for exposure models and risk rating
The best commercial property underwriters aim to rapidly screen and prioritize submissions in order to be the first to market, increase volumes without scaling headcount and maximize their quote-to-bind rate. However the complexities of the submission data, combined with repetitive manual processes makes it challenging for carriers to achieve these objectives.
- Manual processes cause delayed responses to brokers and distribution partners
- High operational costs, slow turnaround times and lack of audit trail
- Difficult to screen, score and prioritize submissions due to data inconsistencies
- Critical data to drive insights locked in spreadsheets and files