Capgemini-释放增长：承销商角色的演变 Unleashing growth the evolving role of underwriters 2024

Unleashinggrowth:theevolvingrole

ofunderwriters

2

Streamliningtheunderwriting

rolewithpowerful,advanced

technologyboostsefficiency,

accuracy,andexperiencetounlock

newbusinessgrowth.

Inbrief

•Astheroleoftheunderwriterevolves,upskillingwith

product,riskmanagement,andsalestrainingwill

enabletheuseofimprovedtechnologylikethe

UnderwritingWorkbench.

•Advancedtechnologyenablesunderwriterstoworkfaster,attractmorebusiness,and

successfullyenterandgaintractioninnewmarkets.

•Underwritersmustassumea

moreconsultativerolewith

theendconsumerandbroker,

deliveringpersonalizedrisk

solutions.

Underwritersplayapivotalroleinassessingrisks,

settingpremiums,andensuringthefinancialhealthof

insuranceorganizations.Adeepsectorexpertiseand

anunderstandingoftherisklandscapeenablesthemto

Butinsurersandunderwritersenvisionafuturewheretheunderwriterroleadaptstothechangingmarketandenhancesriskassessmentformoresustainablegrowth.Infact,70%ofsurveyedinsuranceexecutivesbelieve

underwriterscanbecomebroker/agentrelationshipandproductdevelopmentconsultantsand63%ofinsurersbelieveunderwriterscanaddvaluetothesalesprocess.

Withtherighttoolsandtraining,underwriterscanupskill

topriceriskwithhigheraccuracy,adviseclientsonhowtomitigatetheirownriskpotential,deliverbetterquotegenerationexperiences,andoffermorepersonalized,innovativerisk,andcoveragesolutions.Theevolved

underwriteradoptsamoreconsultativeapproach

tobuildandfostervaluablecustomerandbroker

relationships,whichenablesthemtoreachabroadermarketandgeneratemoresalesforthebusiness.

fostermeaningfulinsuredrelationshipsandcontribute

tosignificantbusinessgrowth.

Butdespitebeinghighlyskilledandwell-compensated,

accordingtothe

2024WorldPropertyandCasualty

InsuranceReport

,almosthalf(45%)ofallcommercial

andpersonalunderwritersstruggletomeetrising

brokerandcustomerexpectations.

Essentially,thesevaluable,strategicplayershave

beenstymiedbymanualprocesses,spreadsheets

andmenialtasks,whichimpacttheirefficiencyand

decision-makingabilities.Almosthalf(41%-43%)of

commercialandpersonallineunderwriters’timeisspent

onadministrativeactivitieslikedataentryandrecord

keeping,whileonlyathird(32%-33%)isdedicatedtocore

activitiessuchasriskassessment,premiumcalculation,

andbookmanagement,andaquarter(25%-26%)isspent

onagent/brokercollaborationandsalesactivities.

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Experience

Efficiency

Accuracy

Learnfromthetrailblazinginsurers

The

report

highlightsthatonly8%ofP&Cinsurers

arecurrentlyimplementingautomated,data-drivenrecommendationsordecisionsintheunderwriting

process.However,thetrailblazinginsurersthathaveembracedthisevolutionareexperiencingremarkableefficiencygains.Theyhaveboostedunderwriting

speed,reducedunderwritingexpenses,and

significantlyimprovedtargetachievementcomparedtomainstreaminsurers.

Theseforward-thinkingcarriershavealsoexcelledintighteninglosscostsandstrengtheningfraud

detection,settinganewstandardfortheindustry.

Figure1Trailblazersleadwithsuperiorefficiency,accuracy,andcustomer/brokerexperience

Boostedunderwrittingspeed

4%

20%

Boostedunderwrittingspeed

4%

27%

Tightenedlosscost

0%

28%

Strengthenedfrauddetection

9%

36%

Increasednewbusinessflows

13%

21%

Enhancedretention

9%

23%

TrailblazerP&Cinsurers

MainstreamP&Cinsurers

Source:CapgeminiResearchInstituteforFinancialServicesAnalysis,2024;WorldPropertyandCasualtyInsuranceReport2024GlobalInsuranceExecutives’Survey

4

Trainingandtechnology

pavethewayforward

Underwritersrequirebothskillstrainingandtheright

technologytoexpandtheirroles,addnewvalueand

promotesuccessacrossthebusiness.

Advancedtechnologieslikecloud-basedself-assessment

tools,predictivemodelingandartificialintelligence

(AI)/naturallanguageprocessingcapabilitiescan

improvetheaccuracyandproductivityofunderwriter

decision-making.

RevolutionarytoolslikethedigitalUnderwriting

Workbenchprovideinstantvisibility,automatetasks,

prioritizehigher-valuesubmissionsandleveragerating

enginesandmodelstogiveunderwritersseamless

accesstopertinentinternalandexternaldataatkey

decisionpoints.Insteadofhavingtosiftthrough

andassimilateinformationfrommultiplesources,

theworkbenchputsthedataandinsightsneeded

forinformedriskassessmentatthefingertipsofthe

underwriterandallowsthemtoshifttheirfocusto

accurateriskpricingandprevention.

AccordingtoCapgeminiresearch,

mostunderwritersindicatedthey

requiretrainingacrossthreekeyareasofbusinesstohelpthempavethe

wayforward:product(81%),risk

management(69%)andsales(68%).

Havingsuchatechnologicaledgeiscrucialintoday’s

employmentenvironment,asasignificantportionof

theunderwritingworkforceispoisedtoretireand

therearechallengesrecruitingandupskillingyounger

generationsintothisrole.Theold,tech-freewaysof

legacyunderwritingarephasingout,whilethemillennial

andGenZworkforceislookingtoleverageadvanced

technologysolutionsthathelpthemworkfasterand

smarter.

Underwriterscanbe

yourgrowthengines

Streamlinedunderwritingprovidestheunderwriterwiththerightdataattherighttimesotheycanmakethefastest,mostinformeddecision.

Largecommerciallineinsurerscanexpectthisto

producequickerpolicyissuance,betterriskselection,

andimprovedprofitability.Forsmallandmedium-size

enterpriseinsurers,thenewlyimaginedunderwriter

enablesmoretailoredproducts,quickerturnaround

timesforpolicyissuanceandimprovedriskmanagementprocesses.Inallcases,thebrokerandtheend-consumerbenefitfromimmenselyimprovedandexpedited

communicationandamorepersonalizedexperience.

Adoptingandleveragingadvancedtechnologytoaccessdatathatunlocksnewopportunitiesforgrowthenablesunderwriterstoworkswiftly,attractmorebusiness,andsuccessfullyenterandgaintractioninnewmarkets.

Leveragingtriagefunctionalitywithinaworkbenchtosupportanunderwritercouldlooklikethis:Therisk

comesintotheworkbenchandbasedonaruleset,isflaggedasred,yelloworgreen.Greenrisksgenerate

automaticapprovalsthatdon’trequiretheunderwriter’sattention,providingtheunderwritermoretimeto

dedicatetotheyellowandredrisks—areaswheretheycanaddsignificantvaluebydetermininghowtomake

thatriskprofitablethroughriskmanagementorpricing.Insteadofautomaticallydenyingtheseriskierscenariosashasbeendoneinthepast,theunderwritercantake

advantageofmorespecificdataandAIcapabilitiesthat,whencombined,helpthemstrategicallytailorandpriceaproducttomeetthecustomer’sneed.

Underwriterscangleanfurtherproperty-specific

informationusingthirdpartytoolsthatcananalyze

photographsofinsureds’andprospectivecustomers’

equipment,forexample,andprovideaccuratedetailsonvaluation,maintenance,ageormalfunctioningissues.

Thesetoolsgivetheunderwriteranaccurate,real-timeunderstandingofabuilding’scontentsandpotentialrisk,empoweringthemtostepintoaconsultativeroleand

advisecustomersonhowtobestmitigatefutureriskandavertlosses.

Inconclusion

Whenunderwritersareelevatedwiththerighttrainingandpowerful,moderntechnologytheyproduce

impressiveresultsassalesenablers,brokerrelationshipconsultantsandbookmanagers.

Whetheryourbusinesshasyettobegintheunderwriterevolutionorisonitswaytoharnessingbetterdata

andinsightsandimplementingnewpolicysystemsorworkbenchtools,dedicatingeffortandresourcestotransformtheroleoftheunderwriterisaworthwhileinvestmentthatwillhelpcarrierssecureacompetitiveadvantagebymakingtheirtalentmorevaluable.

5

Meetourexperts

KellyReisling

SeniorDirector,GlobalUnderwritingLead

kelly.reisling@

KellyReislingisaleaderindrivingdigitaltransformationinunderwriting.

Shehas+32yearsofexperienceinthepropertyandcasualty(P&C)insurance

industry.Sheisanunderwritingsubjectmatterexpertcontributingto

insuranceofferings,digitallandscapetransformations,andunderwriting

workbenchdevelopment.

AdamDenninger

GlobalIndustryLeaderforInsurance

adam.denninger@

AdamDenningerleadsCapgemini’sglobalstrategyandproduct

managementfortheinsuranceindustryandmanagesitsrelationships

withtheinsurancetechnologyecosystem.Adamh