Commercial insurance underwriters operate in an interesting landscape with complex risks that vary across industries and customers. They struggle to make accurate and timely decisions due to a lack of standardization, incomplete information, and no smart way to prioritize application delays acknowledgments. This leads to incorrect pricing, unnecessary risks, and incorrect rejections, adversely impacting customer experience and insurer profitability.
How can commercial insurers improve underwriter productivity — move from high bandwidth, low impact activities to high-value activities like accurate and timely pricing?
Companies today are increasingly adopting document processing solutions to support underwriters and make them more active participants in the insurance ecosystem.
Intelligent Document Processing (IDP) led transformation helps commercial insurance underwriters go beyond data extraction and focus on orchestrating processes and delivering value.
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