When it comes to insurers' attitudes toward underwriting automation, it shouldn't be a matter of "if and when" but rather "what and how," says Deb Smallwood.
"A full 88 percent of insurers in our research are investing in underwriting projects or initiatives," says Smallwood, founder of research-and-consultative-services firm Strategy Meets Action. "Insurers need to establish clarity around what solutions are available and how they can best be used to achieve their underwriting-automation goals."
Providing that clarity was the objective of a session titled "Underwriting: Challenges, Creativity and Myths" at the ACORD LOMA Insurance Systems Forum, held May 15-17 in Orlando. Smallwood was joined on the panel by Charity McGill, product manager at Accenture, and Justin Manley, CIO at specialty-insurer Torus.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
