For years, the underwriting workbench has been positioned as a productivity tool: a convenient ‘single pane of glass’ that brings together data, systems and workflows in one place. Useful, yes. But rarely viewed as something that actively supports underwriting strategy.
The problem isn’t the workbench itself. It’s that the term has failed to keep pace with what modern underwriting technology has become.
Today, what many still call a “workbench” is, in reality, a fully-fledged underwriting platform – one capable of shaping operating models, enabling new routes to market, and directly driving measurable business outcomes.
And in today’s high-pressure commercial and specialty market, that distinction matters.
A fast evolution
The evolution of the underwriting workbench has happened over a surprisingly short period of time. Widespread adoption only began in the last decade, which makes the shift we’re seeing today incredibly rapid – certainly by insurance market standards.
Early workbenches emerged as a major leap forward from spreadsheets and email. They streamlined data entry, reduced rekeying, and eliminated some of the costly “chair-swivelling” between systems that consumed underwriters’ time. Many insurers still cite underwriters spending up to 40% of their time wrangling data.
As more and more point solutions for the underwriting process became available, and technology evolved in pockets, workbenches became a great tool for connecting the dots, providing that orchestration layer that underpinned new systems and sat on top of legacy stacks.
That role was valuable. But it was only the beginning.
Times change; technology changes faster
But as we know, technology and innovation rarely stand still, and not long after workbenches entered the market at scale, they began to change shape.
Modern underwriting platforms have undergone a fundamental shift. They’re no longer just about making existing processes better. They’re enabling insurers to pursue business strategies and seize competitive advantages in areas that were previously operationally impossible.
We’re seeing a clear trend towards insurers pursuing multiple operating models, introducing sophisticated digital broker platforms, algorithmic arrangements and complicated delegated authority structures. The MGA model is booming, with more multi-line MGAs acting like virtual insurers. Reinsurers and brokers are digitally evolving, and fast. These changes underscore the need for more connected, data-rich, AI-powered underwriting technologies to facilitate more complex and demanding operating models, and help all parties to gain a competitive advantage in a tough market.
But it goes deeper than operational flexibility. Modern platforms create traceable value chains where every capability connects directly to business levers. Take AI-powered submission processing. The value isn’t simply faster data extraction.
Faster ingestion enables earlier triage and prioritisation. That leads to quicker quote turnaround, improved broker responsiveness, higher win rates, and ultimately premium growth – while freeing underwriter capacity to focus on higher-value risks.
Crucially, each link in this chain is measurable. Processing speed, hit ratios, conversion rates and portfolio outcomes can all be tracked and optimised. This is underwriting technology operating as a strategic lever, not just an efficiency tool.
Modern underwriting platforms can operate at a much higher level than before, taking insights and benefits from submission to portfolio level. The ability to quickly augment submissions with accurate, relevant data, and give underwriters a view of how they fit within their wider portfolio helps underwriters avoid unacceptable risk accumulation up front. This could prove valuable down the line when dealing with major claims.
Perhaps most importantly, modern platforms eliminate the traditional trade-offs. Historically, insurers have been forced to choose between underwriting capability, enterprise control, or operational efficiency. Today’s strategic platforms find the sweet spot of all three, delivering efficient processes that maintain control while giving underwriters what they need to make better risk decisions.
Are you evaluating your technology with the right lens?
We’ve given you a small snapshot of how modern underwriting platforms are quickly emerging as a vital ‘fourth core system’ (alongside policy, claims, and billing but without the ‘eye-watering’ price tag) for underwriters, but that doesn’t mean all are created equal.
The gap between insurers who understand this shift and those still thinking about underwriting workbenches as a better interface for underwriters is widening rapidly.
The question is no longer whether to modernise underwriting technology, but whether you’re evaluating it through the right lens.
That’s why we’ve created our Underwriting Benefits Map: to help insurers connect value drivers to outcomes, identify where change will have the greatest impact, and track what really matters.
Because modern underwriting platforms aren’t about doing the same work faster. They’re about enabling better decisions, better performance, and better results.