Full article with thanks to: techround.co.uk/finance/underwriting-workbench-explained In the intricate landscape of finance, where uncertainties are inherent, underwriting assumes a critical role in ensuring the stability and prosperity of businesses. The conventional underwriting process involves a detailed examination of various factors to evaluate the risk associated with a specific transaction or investment. However, as the financial landscape evolves, there is a …
The Future of Underwriting: Transforming Commercial Insurance with Technology
Full article with thanks to: forbes.com/sites/forbesbusinesscouncil/2024/01/04/considerations-for-modernizing-the-underwriting-process-in-commercial-insurance The commercial insurance industry is at an inflection point due to several economic uncertainties like inflation, sluggish rate growth, competition for distribution partner preferences and more. These factors, along with increasing natural catastrophes and the growing threat of cyber risks are challenging insurers. It is now necessary that carriers examine and transform their product portfolio strategies and pricing …