Client Overview
A specialty insurance and reinsurance service provider was under pressure to bind critical quote accounts within a 72-hour window, requiring speed, precision, and reliable loss modelling
Problem Statement
- Time-sensitive quote processing within 72 hours led to operational bottlenecks and compliance concerns.
- Inconsistent data processing and modelling disrupted underwriter timelines and accuracy.
- Loss reports were frequently delayed or inaccurate, hampering informed decision-making.
Solution Provided
To overcome these challenges, Decimal Point Analytics implemented a comprehensive underwriting support solution
- Automated Workflow Monitoring: Prioritized quote requests through active work basket monitoring for faster task completion.
- Advanced Modelling: Integrated AIR Touchstone for accurate, detailed loss reporting.
- Decision Intelligence: Equipped underwriters with well-structured insights, assumptions, and scenarios to accelerate strategic actions.
- Geocoding Automation: Employed an in-house tool for real-time geocoding and rapid data scrubbing, ensuring clean, location-verified data inputs.
Outcome
- 20% reduction in overall underwriting turnaround time.
- 90% accuracy in geocoded data, improving modelling inputs and downstream reporting.
- Greater trust in loss reports, resulting in faster and more confident underwriting decisions.
- Seamless quote handling through refined, tech-enabled workflows.
Key Takeaway
Timely, accurate data-powered by intelligent automation and precision modelling-transforms underwriting from reactive to strategic, enabling insurers to meet strict SLAs with confidence.
Facing operational pressure to accelerate underwriting without compromising on accuracy?
Book a call with our experts to explore our AI-powered underwriting solutions and see how we can streamline your process.