Did you know that 82% of surveyed respondents believe that their underwriters spend at least half of their time on data collection and administrative tasks rather than making decisions?
Today’s underwriting departments must juggle a constant stream of business in an underwriting process that touches multiple systems and data sources. As you can see from the statistic above, a great deal of business may never get processed, leading to lost deals, dissatisfied agents and brokers, and unhappy customers.
Since underwriting is a key driver of growth and profitability, carriers need to focus on making their underwriting teams as efficient as possible to ensure the best decisions are being made in the shortest time possible.
Read the Underwriting Efficiency 2013 report to learn how you compare in efficiency challenges such as: