weav.ai

Underwriting Challenges

Underwriting effectiveness will drive profitability

Most insurers can no longer rely on rate increases to drive profitability. As most carriers converge on rate adequacy, underwriting effectiveness becomes critical to profitability.

Data complexity creates huge backlogs

The proliferation of internal and external information sources is too fast for IT to integrate into existing systems - we need a way to capture and evaluate these sources as they are identified.

Misclassification is common and drives underwriting loss

Client understanding is complicated - misclassification is unprofitable and potentially disastrous; and leads to inaccurate risk assessment, pricing, exposures, and exclusions.

Personnel turnover drives intellectual capital risk & leakage

Employee turnover and retirement risk loss of specialized underwriting knowledge - individual expertise varies greatly, and best practices are hard to capture and even harder to apply.

Non-rate actions are hard to standardize and implement

Non-rate actions are temporary processes often outside of formal automation - organizing, executing and tracking these processes are hard to do consistently.

Our Underwriting Workshop will help you

Design your first Gen AI Pilot program

Work toward speed and high-value examples

Eliminate technical and operational risks

Summarize outcomes and prepare internal business proposals to move forward

weav.ai

Try weav.ai

Solution & Benefit

weav.ai

Resources

Company