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Opportunity for Automated Underwriting Grows: SMA

Policy admin systems no longer satisfy risk evaluation, analysis needs

By Melissa Hillebrand | Updated on March 25, 2014

Underwriting automation will ease competitive and pricing pressures for all sizes of insurers, according to Strategy Meets Action (SMA), and the opportunity for automated underwriting grows as insurers realize their dissatisfaction with their policy administration systems.

Twenty-seven percent of commercial insurer respondents to SMA’s “State of Commercial Markets Underwriting Automation” survey said they were not satisfied with their policy administration systems—the highest rate of dissatisfaction among all technology investments.

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