To remain competitive, insurers and underwriters should accelerate underwriting transformation. They can do this by automating routine tasks and augmenting teams with emerging technologies and alternative data sources to empower underwriting professionals to become exponential and more valuable than ever.
Various technology themes that possess untapped potential to advance underwriting and risk management inclusion are being explored across the network including AI, ML, Cloud Computing and RegTech to enhance compliance with global standards for financial stability, integrity and domestic supervisory. Looking further, the changes could be even more profound. The ways that the underwriters digitally manage our data could well come to completely redefine the seamless underwriting in the future.
Underwriters that continue relying on traditional ways of underwriting could start a negative spiral that would be difficult to reverse. They may face adverse risk selection, could drop off preferred lists of distribution partners, and may have a more difficult time recruiting and retaining skilled professionals.
The Future of Intelligent Underwriting and Risk Management, Virtual Summit aims to discuss these latest technologies, bring together the key decision makers and focused networking opportunity for the Industry leaders and tech providers to champion best practices and revolutionise the Insurance Industry forever.
Don't miss our Head of Solutions, Gari Gono, speak at 12:20PM on the 'Technologies like AI, ML and Big Data powering a seamless underwriting framework' keynote!