Reshaping-underwriting-landscape-with-focussing-on-customer-experience-whitepaper

Reshaping Underwriting Landscape With Focussing On CX – Whitepaper

The legacy underwriting system is fraught with inefficiencies—delayed generation of quoting premium results in poor customer experience. Moreover, the wrong price quote by the carrier results in redoing the process from the beginning, which is unproductive from the customer perspective.

To remain competitive, insurers must accelerate the underwriting process. But to do so, carriers must deal with a rising agent and broker dissatisfaction with the underwriting platforms, competing with insurtechs and the legacy technology. The underwriting process must be a “rewarding customer journey from obtaining an initial quote through policy issuance, service and renewal”.

Download The eBook

Please fill out the form below with valid details:

  • Table of Contents:

    • Why do we need to reshape the underwriting process?
    • Three Strategic Challenges and Imperative Solutions To Underwriting Transformation Journey
    • Challenge 1: Realizing the full potential of Big Data
    • Challenge 2: Rising demand for efficient Pricing Policy
    • Challenge 3: Higher Operational Cost in traditional underwriting
    • Our proposition
  • Summary:

    The COVID-19 pandemic has changed the behaviour of the economic factors in the insurance industry. There is a fall in global premium by 2.1 per cent, and the massive demand led by the crisis has redirected the logic of selling insurance from a “pure-product” to a “holistic service” approach. This paper will discuss the strategic underwriting challenges and proven solutions from industry leaders to stay ahead of the competitive landscape for the next decade.

  • Key Highlights:

    • 70% of consumers base their opinion of a business on the quality of its CX.
    • 81% of companies expect CX to be the key battleground in the race for market dominance.
    • 80% of customers lost interest in buying life insurance due to the poor underwriting process.
    • 80% of data received by underwriters are in the unstructured form.

Trusted by

Forbes
Business Insider
The Economic Times
Business Standard
Gulf Today
India Today
Business Today
BW Business World
The Week

More Ebooks

Top 10 Digital Transformation Trends For Healthcare in 2022

Discover the top 10 digital transformation trends for healthcare in 2022

Digital Transformation In Retail Banking

How digital transformation is changing the traditional retail banking experience

Fueling the Future of Fintech With Data Science and AI

Reshaping Fintech Using Data Science and AI

Multiline Insurance – An Emerging Opportunity

Evaluate the blending of multiline insurance and insurance core system

The Power Of Open Banking Coupled With Artificial Intelligence

Discover the impact of open banking and cognitive banking

Checklist To Cost Your Software Development Accurately In 2022

5 key factors to look at before you cost your project in 2022. Assess the pricing with the given checklist.

Reshaping Underwriting Landscape With Focussing On CX – Whitepaper

Build next-gen customer rewarding underwriting journey

Checklist To Become Customer-First Neo Bank- 2021 Proven Solution

Create customer first neobank

Rethinking Financial Landscape with Open Banking – 2021 Global Trends

Open banking is changing the financial landscape...

Reinforce value in the Insurance Value Chain in 2021

Scale by optimising insurance value chain with the advanced...

Technological Transformation at MF Industry- Whitepaper

AMCs are going through digital transformation. Take a look at the top technological.

Re-imagine the Future of Remote Team

To boost team performance and collaborations here are 6 tips to manage...

Outsourcing for Profit: Make Investment Count

Assess, Analyse, Evaluate and Optimise your IT Outsourcing Strategy...

The second wave of Fintech Disruption: Trends to watch out

Mega Fintech trends from companies around the globe to influence financial services...