Automated Commercial Underwriting; Overview, Best Practices, and Case Studies
Automating Commercial Underwriting: Overview, Best Practices, and Case Studies
Celent looks at how commercial lines insurers are benefiting from automating the underwriting process.
In a new report, Automating Commercial Underwriting: Overview, Best Practices, and Case Studies, Celent examines what underwriting automation means in commercial lines, how insurers are doing it, and what benefits they are receiving. These benefits include the four financial elements of a business case: underwriting operational expenses, premium revenue, losses, and IT expenses.
"The past ten years have seen a large degree of automation in the underwriting process for personal automobile and homeowners insurance. There has been substantially less automation of the commercial lines underwriting process," said Donald Light, senior analyst and author of the report. "However, much of the same technology pioneered on the personal lines side is now being introduced into the commercial market."
The 25-page report contains ten figures and one table. A table of contents is available online.Members of Celent's Property/Casualty Insurance research service can download the report electronically by clicking on the icon to the left. Non-members should contact firstname.lastname@example.org for more information.