For the insurance industry to fulfill its purpose and its potential, underwriting transformation is needed now.

Underwriting transformation requires carriers to harness technology to support a new way of working, allowing underwriters to focus on key aspects of risk selection and analysis that drive competitive advantage and market differentiation.

To do this well, the underwriter of the future will have additional responsibilities apart from risk selection and pricing. This includes:

The underwriter of the future

Underwriters must be empowered and enabled to do more: be more efficient, more effective, more productive, more creative and more consistently profitable. This means aligning underwriting with an insurer’s operating model, agents and brokers in a dynamic ecosystem of data/decision scientists, customer advocates, sales executives and innovators.

  • Data/decision scientists

    Leveraging digital tools and data for exquisite visibility into risk and deeper insights, elevating predictive modeling and analytics, and optimizing profitability.

  • Customer advocates

    Building customer loyalty and improving risk performance by connecting insureds to meaningful services that align with broker/agent offerings and optimize customer and broker experiences.

  • Sales executives

    Leading the charge to target opportunities, grow new and renewal business, and strengthen and expand relationships.

  • Innovators

    Conjuring creative solutions for the problems of today, recognizing and realizing new product and service opportunities of tomorrow.

As converging forces shape the industry’s future, EY collaborates with insurers to envision their best future and map the journey to modernize their underwriting abilities and drive them forward.

How EY can help

EY has the knowledge, tools, insights, alliances and technology capabilities to power an underwriting transformation that aligns with strategic objectives and operating models and ensures flexibility for the future.

We combine our deep understanding of the insurance industry with the operations and technology landscape to explore the right approaches for tackling automation, data and analytics, customer experience, digital transformation, performance improvement, risk and strategy.

Our diverse talent and experienced leadership include insurance industry leaders and visionaries, chief underwriting officers, underwriters, product managers and operations professionals, technologists and data scientists.

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