Underwriting Solutions
Chris Spencer
Director of Underwriting Solutions
Underwriting Solutions
The London Insurance Market has long been the global hub of underwriting expertise and innovation. However, as market dynamics shift, underwriters face increasing challenges around rising client expectations, mounting cost pressures, and the demand for operational efficiency.
We recognise the importance of leveraging technology solutions to address the unique challenges in this new era of underwriting, whilst positioning underwriters for future success.
The challenge
To respond to today’s demands and stay ahead of tomorrow’s opportunities, underwriters must succeed in these areas:
- Efficiency in pre-bind workflows
- Adaptability for the future
- Empowering underwriters to focus on high-value work
As the underwriting world is shifting, are you keeping up?
Our solution
Our modern underwriting insurance platform represents a significant leap forward to support this shift in the underwriting world, by redefining how insurers and underwriters navigate the full underwriting lifecycle. Delivering seamless integration and continuous innovation it revolutionises the traditional Policy Administration System (PAS) for the specialty insurance market.
Unlike the traditional PAS, our platform is built for today's market realities, reducing complexity, accelerating decision making and optimising risk selection, empowering underwriters to focus on high-value strategic work. It ensures insurers stay ahead of market demands, driving efficiency, profitability, and smarter risk management.
With API enablement, it ensures integrations with existing workflows are seamless and built using domain-focused technology means value can be achieved faster through an iterative continuous improvement/continuous delivery model. Robust pre-bind workflows and a user-friendly interface provides a reliable foundation and flexible architecture offers scalabity and future proofing.
Underwriting Solution
The highlights
- Built from the ground up: Leveraging a fully modern technology stack to achieve real value
- Continuous improvement and delivery: Achieve fast ROI through quarterly delivery
- Shaping tomorrow: Designed for today's digital marketplace complexities and future needs
- One platform: Full underwriting lifecycle capabilities
- Sustainable investment: Continued development underpinned by Verisk's Global strength and ecosystem
- Market Initiatives: committed to supporting innovation and digital transformation in specialty insurance
The benefits for you
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Future-proofing technology investment
Our platform is built on a modern API-enabled architecture that ensures your technology investments are future proof. It's designed for seamless upgrades and iterative enhancements, minimising the need for costly or disruptive overhauls.
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Scalable and flexible architecture
As market dynamics evolve, our platform evolves with them. The architecture is built to adapt to emerging technologies, new regulations and shifting customer expectations, so your infrastructure is always aligned with the future of the insurance market.
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Integration with existing tools and systems
By investing in a flexible and scalable platform you can ensure the organisation avoids the risk of obsolete technologies, keeping you ahead of competitors and enabling you to respond quickly to emerging industry trends.
What type of underwriter are you?
How large is your underwriting operation?
How would you describe the maturity of your business?
How do you primarily assess risk?
What role does technology play in your underwriting?
How would you describe your underwriting strategy?
What is your biggest underwriting challenge?
What is your most valuable underwriting tool?
When faced with a complex risk, do you...
Insights
The underwriting landscape is changing and by leveraging technology you can turn challenges into opportunities. The right solutions can equip you with the tools, insights, and scalability needed to lead in this dynamic market.
Products used in this solution
Underwriting: Powerful solutions designed to simplify and enhance your underwriting processes.
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Whitespace Platform: Data first, digital trading platform for insurance and reinsurance business with full API connectivity.
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