The Future of Underwriting webinar

Hosted with our partners at Google Cloud, the webinar took a deep dive into the challenges underwriters are facing, particularly in the current climate with organisations having to operationalise for the ‘new normal’. Along with understanding, the capabilities needed to be an underwriter of the future and transform the underwriting lifecycle.

Our speakers explored how organisations can deploy intuitive, cost effective tools to digitise processes and alleviate legacy systems, with the support of digital platforms. AI, cloud and other technologies will enable effective employee, customer and broker ways of working while increasing operational resilience.
 

Webinar key takeaways

Three key changes that will enable the future of underwriting:

1. Leverage hidden, relevant, and timely insights to make underwriting decisions: Consuming vast amounts of data while instantly surfacing the few pieces of unique and critical insights to drive decisions, will result in unique competitive advantages
2. Dynamically and regularly optimise your underwriting and portfolio strategies: Having the ability to monitor multiple dimensions of the market and your portfolio, coupled with digital platforms to pivot quickly, will enable insurers to have a dynamic strategy to target the right opportunities at the right moment
3. Market sentiment and competitive positioning will be quantifiable: Modern platforms consume market data from various sources to provide actionable insight to an underwriter on how and when to present a quote
    

Panellists

• Mark Patterson, Insurance Partner at Deloitte
• Sulabh Soral, Director of Artificial Intelligence at Deloitte
• John Abel, Technical Director, Office of the CTO at Google Cloud