Current Situation
Most incumbents understand the need to transform their underwriting function but face gaps between existing capabilities and the risk assessment and risk selection requirements of the digital world. _ They need to redefine existing function and processes to build an underwriting department that is agile, data driven, customer focused, and supports sales in growing and retaining business
Goals and Objectives
Empower underwriting department with highly automated system and processes and a 360-degree view of customer as well as risks to manage their day to day tasks. _ Enable the underwriting function to make faster, more informed and precise decisions by integrating the underwriting processes to workflow and realtime intelligent decision support systems.
Technology Deployed
Modern underwriting suite that incorporates advanced analytics, predictive modelling tools, cognitive capabilities and IoT
Use Case Summary
Transform the current transactionfocused underwriting function to a competitive, strategic, customer-centric, data-driven, decision-making process to enhance customer, staff, and partner experience.