Unlocking the Performance Levers of Commercial Underwriting
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چکیده
As insurers face tremendous pressure to improve their financial performance amid rough global economic weather, efficient risk selection and accurate pricing have become even more critical. However, most commercial insurers go about these processes in a haphazard, labor-intensive and nonstandardized manner. Underwriters spend an unjustifiable amount of time dealing with unclear workflows, lack of relevant information, multiple systems that require rekeying of massive amounts of data and, most important, the lack of powerful tools that they need to take meaningful decisions. Experienced underwriters spend their valuable time compensating for the process and system deficiencies instead of analyzing risks.
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