An Underwriting Workbench is essentially the digital the equivalent of a real workbench one place where tools, data and work align.

1. INTELLIGENT UNDERWRITING WORKBENCH
ARTIVATIC.AI

2. The failing legacy scenario
Commercial underwriters today are under pressure –
big pressure.
• Pressure to move fast, to perform accurate risk
assessments, to make profitable portfolio decisions.
• Pressure to earn new business, to retain existing
business.
• Pressure to define an enterprise underwriting
approach that generates continued growth.

3. • Commercial and specialty risks are complex – it takes time
to analyse risk and determine pricing, to comply with
underwriting guidelines, to track exposure, to communicate
with brokers and customers expertly and efficiently.
• All while chair swiveling and trying to make an underwriting
profit.
Rapid technological changes are driving the need for
digitization in insurance.
Businesses need to optimize their underwriting processes to
support an aging workforce, and resolve complex manual
processes, multiple systems of record, and siloed automation
efforts.
Additionally, the proliferation of third-party services is
compelling insurers to explore newer business models and
innovate at scale.
Source: Wordpress

4. The Underwriting Process
PROCESS
Underwriting hasn’t really
changed since the olden
days of the industry
REALITY
Underwriting has changed
exponentially.The data that
need to be evaluated to
calculate shared risk
continues to become
increasingly more complex.
FUTURE
Embedded intelligent
underwriting into the client
experience. Make giving
data and finding data easier
for everyone.

5. UNDERWRITING
WORKBENCH
From woodworking to watchmaking, a traditional
workbench has provided a comfortable place for artisans
to design their creations, with all the tools in easy reach.
An Underwriting Workbench is essentially the digital
equivalent of a real workbench – one place where tools,
data, and work align.
A digital control panel and collaboration tool that offers a
one-stop-shop that streamlines processes, distributes
work, accesses digitalized documents or emails, and
brings in data streams and analysis.
Source: Underwriting Workbench

6. KEY PROCESS
A single
user-
focused
dashboard
Advanced
AI and
automation
tools
Audit and
compliance
control
Secure,
cloud-
based SaaS
technology
Real-time
MI and
operational
reporting
Full API
library

7. Need of UnderwritingWorkbench in Insurance Sector
Task management
workflow with user-
focused dashboards
Advanced artificial
intelligence,
automation, and data
processing toolsets
Full API library
Integrated rating
solution
Real-time MI and
operational reporting
Highly secure, cloud-
based SaaS
technology
Full audit and
compliance control
Low code
microservice
architecture

9. Use Cases of Intelligent UnderwritingWorkbench
Integration with existing
systems
•Within a few clicks or taps, an
underwriter can bring up relevant
information about a case, broker,
or client, including active flags on
missing information. They can
navigate deeper into these views as
their needs dictate.
Data and analytics
•Leveraging internal and external
data sources is par for the course
for the more tech-enabled insurers.
A good workbench will, of course,
ingest internal data and present it
in a digestible format.
Automated workflow
•When connected to auto-renewal
and auto-decline tools, which use
automation and straight-through-
processing after a quote request,
the workbench can alert the
underwriter to the status of these
more straightforward cases.
Monitoring and team
management
•By incorporating controls as set
out by corporate policies, the
workbench creates and stores risk,
regulatory, and compliance data.
Being digital, it can also provide
timestamps for audit purposes; an
unobtrusive device that provides
further assurance in a regulated
environment.

10. In our experience, prior to implementing a workbench, it is vital to be
clear on the reasons for the adoption. A key consideration is whether
the workbench is the fulcrum around which change revolves or the
cover that wraps around end-users to cushion them against
underlying change. Whilst there will be a multitude of priorities, we
believe they can be allocated to three primary drivers which, in turn,
dictate what and how the workbench delivers:
In the coming days, we can expect Underwriting Workbenches to
become increasingly central to the workflow within insurance
companies. As the sophistication and reach of automation and
digitalization increase, the workbench will provide a nexus for
working on, monitoring, and controlling a greater proportion of an
insurers’ book. With evolving technology, activities that sit outside
the workbench today, such as pricing engines, could be performed
within its parameters.
More profitable
underwriting
Increasing
distribution
Increasing
efficiency

11. THANKYOU
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