Automated underwriting holds the promise of better process flow, higher customer service levels, enhanced agency communications, improved tracking, more consistent underwriting decisions, faster throughput, and better mortality — all leading to the opportunity for significantly higher profits. For those companies still unconvinced of the business value, a cursory look at these seven benefits might convince them of the compelling story for potential growth. Wrtites Erik Stockwell in the article 7 benefits of Automated Underwriting in Insurance & Technology.
Here is the summary of the seven benefits in the article:
- Better Tracking and Improved Workflow
- More Effective Use of Underwriting Resources
- Enhanced Visibility and Service
- Increased Consistent Decisions
- Refined Product Development
- Reduced Paper Process
- Better Mortality Results – The Promise of Data Analysis
We have written three articles about the benefits of the redefined process of underwriting
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