Underwriting and customer experience in commercial insurance
- May 8 2023
- Length: 20 mins
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The future of underwriting and the customer experience in commercial insurance is rapidly evolving with the advent of new technologies and changing customer expectations. Insurers are leveraging data analytics and artificial intelligence to improve the accuracy and efficiency of underwriting decisions, while also exploring new digital channels to enhance customer experiences. However, insurers must balance the need for more personalized experiences with appropriate levels of risk management and determine the best ways to leverage automation while maintaining human expertise. Startups and insurtech are driving innovation and disruption in the industry, making it an exciting time for the future of commercial insurance
Points of discussion:
1. In your opinion, how important is data analytics and artificial intelligence in improving the accuracy of underwriting decisions?
2. How can insurers balance the need for more personalized and efficient customer experiences with the need to maintain appropriate levels of risk management and underwriting scrutiny?
3. How can insurers strike the right balance between automation and human expertise in underwriting, particularly in complex and high-risk commercial insurance cases?
Speaker Bio: Wendy Crosley, is the Global Director for Underwriting Automation and Transformation at Willis Towers Watson. Wendy is a well-known industry professional with a reputation for effectively delivering company-wide transformation, generating more efficient, targeted underwriting results. In her role, Wendy, leads digital underwriting transformation projects for global commercial lines insurance clients. She also manages the design, development, and implementation of market-leading technology propositions to underwriting companies around the world. Prior to WTW, Wendy was with Zurich North America, where she served as Underwriting Solutions Director, Operations and Technology and in this role she successfully led underwriting landscape transformation projects across the commercial and specialty insurance business units.