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Arthur D. Little

Arthur D. Little has been at the forefront of innovation since 1886. We are an acknowledged thought leader in linking strategy, innovation and transformation in technology-intensive and converging industries. We enable our clients to build innovation capabilities and transform their organizations. ADL is present in the most important business centers around the world. We are proud to serve most of the Fortune 1000 companies, in addition to other leading firms and public sector organizations. For further information, please visit www.adlittle.com

Future of underwriting – driven by talent and technology – E&Y

Article Synopsis :

Insurance underwriting is undergoing a transformation and a wide array of digital tools and technologies is enabling the underwriter of the future.  Modern-age underwriting is expected to bring more insight and efficiency to corporate insurers which will eventually drive profitable growth and reduce losses.

 The Digital Insurer reviews EY’s Report on The future of underwriting - A transformation driven by talent and technology

The role of underwriters is changing and is being driven by technology and talent

In the thought leadership paper “The future of underwriting – A transformation driven by talent and technology”, E&Y’s Gail McGiffin presents a vision of the future of underwriting and describes the role that underwriters will play in the coming years. The paper highlights some of the transformative technologies and talents that insurers will need to thrive in tomorrow’s  highly dynamic and competitive marketplace.   In the report, Gail McGiffin considers how the role of underwriters will change and concludes that future underwriters will need to be masters of many trades and will have to acquire new skills and capabilities that will broaden their role to that of:

  • Sales executive
  • Decision scientist
  • Customer advocate
  • Innovator

As insurers think about the future of their business and the role of underwriting, cultivating the right talent will be as important as deploying the right tool sets.

 

Link to Full Article:: click here

Digital Insurer's Comments

The role of the underwriting function will change as insurers leverage powerful models and technologies, but key to its success will be to raise the next generation of talent that can produce the transformative value that technology makes possible.  Insurers in Asia should not overlook this important consideration and ensure that any plans to transform the underwriting function also include a strong talent management component. 

Link to Source:: click here

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