In the US, distribution-based InsurTech called Fetch! has launched a software application which allows underwriters to search relevant underwriting guidelines on the go, thereby removing the time spent on researching them.
The solution aims to replace the traditional cross-referencing method of referring to carriers’ guidelines organized in ring binders. This is time consuming and requires constant updating. Fetch! organizes all of the possible combinations of carriers’ printed guidelines and manuals into an instantly searchable database to which the printable guidelines and manuals are attached and searchable as and when needed.
The queries can be either searched using 4 fields or a 13 field advanced search, which returns results in less than 30 seconds.
Trace Meek , President, Fetch! said: “I believe the insurance agent of the future will require nothing more than a cell phone in hand. Fetch! is on a mission to make that vision a reality by transforming the way insurance agents quote policies, by vastly reducing the amount of time it currently takes to sort through underwriting guidelines.”