Underwriters can record their observations, decisions, and communication within the system, ensuring a comprehensive audit trail and facilitating collaboration among team members. This also helps fight corporate amnesia when team members change roles.
Underwriter notes enables teams to capture updates on a risk. This helps to centralise the discussion around the risk and provide valuable context to teams.
Where there is nuance on a risk or if someone is reviewing an older risk, it helps to be able to review notes that can impact decisions going forward. This can impact how an underwriter rates the risk or if a risk looks good but might be out-of-appetite based on any notes previously captured.
Capturing these insights on the risk encourages communication between teams as these shared notes become increasingly useful to teams throughout the underwriting process.