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From start-ups to enterprise corporations, underwriters around the world are waking up to the value of an Underwriting Workbench.
It’s quietly gaining traction as the must-have system for modern underwriters, and quite rightly so. Not only does it solve real business problems and boost performance, but a workbench also overcomes the thorny challenges of bringing together siloed, inaccessible data and streamlining slow, manual workflows.
And, it actually makes an underwriter’s job far more interesting. Here we take a look at seven ways a workbench helps underwriters get back to doing the work they love.
But first, what exactly is an Underwriting Workbench?
From woodworking to watchmaking, a traditional workbench has provided a comfortable place for artisans to design their creations, with all the tools in easy reach. An Underwriting Workbench is essentially the digital equivalent of a real workbench – one place where tools, data and work align.
It is a commercial insurance platform that supports and facilitates the underwriting process, from submission to bind. Think of it as a one-stop desktop for underwriters where data intelligence, decision points and documentation all reside within the same platform. So regardless of legacy systems, the Underwriting Workbench can provide a single place for managing new business, renewals and endorsements.
An Underwriting Workbench is a digital control panel and collaboration tool that offers a one-stop-shop which streamlines processes, distributes work, accesses digitalised documents or emails, and brings in data streams and analysis. The best of them interact with underlying systems to present an integrated “single pane of glass”, which gives the user an integrated experience across multiple devices – Endava
So how can an underwriting workbench make the job more interesting for underwriters?
Ready to reimagine a new way of working? If you want to work faster, and smarter, get in touch to request your Underwriting Workbench demo today.