Next-gen Underwriting: The Case for Continuous Underwriting

With increased competition from non-traditional players, reduced margins, and declining customer loyalty, underwriting excellence and pricing discipline have become critical to a competitive advantage. Against this backdrop, insurance players need to embrace a smarter approach to underwriting by adopting continuous underwriting. Continuous underwriting involves collecting meaningful data from diverse sources before, during, and after the risk evaluation timeframe to extract relevant and predictive insights. It equips the insurer as well as the insured with insights into trends that can lead to a loss event, often enabling them to address the situation in a timely manner. Through this, continuous underwriting provides a powerful opportunity – both in the life as well as property and casualty insurance sectors – to optimize the risk evaluation process and positively inuence loss outcomes. This paper discusses the capabilities that insurance companies require to implement a continuous underwriting framework. WHITE PAPER