The Insurance Insider Market Sentiment Survey 2019
With painful underwriting processes underway at many major global carriers, AdvantageGo teamed up with The Insurance Insider magazine to gather opinions about the state of global underwriting to explore industry attitudes around underwriting discipline and excellence as well as the role of technology in the market.
The web-based survey of over 380 reinsurance and insurance executives in the United Kingdom and North America focused on where underwriting excellence can be found, and what needs to be done to better understand and measure the difference between good and bad underwriting practices.
- Majority of executives are still uncertain how much of an underwriter’s workload could be automated by smart technology.
- The future looks positive for technology-focused underwriting tools in the next five years.
- Data is abundant, but much of it is unstructured and a challenge to analyse.
- Only a fifth of respondents said that underwriting discipline in the global market is highly disciplined.