Mitigating Catastrophic Losses with Faster Underwriting and Accurate Geocoding

Client Overview

A specialty insurance and reinsurance service provider needed to execute time-sensitive catastrophe modeling across multiple policies while maintaining speed, accuracy, and underwriter confidence. A critical requirement was turning around quote accounts within a 72-hour window.

Problem Statement

• Binding critical quote accounts within 72 hours was challenging.
• Inaccurate and delayed loss reports created friction for underwriters.
• Delays in data scrubbing and modeling impacted underwriting decision timelines.
• Inefficient processes slowed down handling of time-sensitive requests.

Solution Provided

To overcome these challenges, Decimal Point Analytics implemented a comprehensive underwriting support solution

• Workflow prioritization: Proactively managed work queues to prioritize time-sensitive quote requests..
• Faster data scrubbing: Used an in-house geocoding tool to accelerate location validation and data cleanup.
• Catastrophe risk simulations: Leveraged AIR Touchstone to run accurate catastrophe modeling and risk simulations. .
• Underwriter-ready outputs: Delivered clear insights, key assumptions, and findings to help underwriters act quickly and confidently.

Outcome

• 20% reduction in underwriting turnaround time (TAT) for time-sensitive requests. .
• 90% geocoding accuracy, improving the reliability of modeling inputs.
• Improved confidence in loss reports through cleaner, validated data.
• Streamlined workflows enabling more efficient quote handling and faster decisions.

Key Takeaway

When catastrophe modeling is supported by clean location data, prioritized workflows, and underwriter-ready insights, insurers can meet strict timelines without compromising decision quality.

Need to improve quote turnaround time while strengthening modeling accuracy? Book a call to explore how Decimal Point Analytics can streamline underwriting workflows and loss modeling.