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Underwriting Workbench Evolution: Q3 & Q4 product highlights 

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Published on:21st December 2023
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It’s been a busy year for insurers, and that means a busy year for Send.  

In our last update, we looked at some new features and enhanced Underwriting Workbench capabilities, technology partners, getting more from your data, and how to manage submissions as we launched Smart Submission. 

As underwriters continue to be under pressure from increasingly complex insurance, we’ve continued to evolve our products and features to support on these.  

Here’s a quick summary of our Q3 & Q4 product highlights:

 

Clause Library 

We developed a user-friendly Clause Library that can easily be applied to your risks. These can be managed centrally for consistency and ensures standardised policies are be applied across teams or regions.  

These can be applied across over 40+ lines of business with rules to ensure that correct clauses are being applied.  

The Clause Library makes managing clauses simple through being able to centrally make corrections to existing, creating new or retiring outdated clauses – as well as keeping a record of applied versions to risks.  

With our Clause Library, we have developed management information capabilities that give you a big picture view of which policies have cover and the clauses that have been applied. Making it easier to make better decisions and share these insights within your underwriting teams.

 

Document Generation  

Our Document Generation enables operations and underwriting teams to quickly generate quotes, policies, and regulatory documents.  

We have made this possible from within an existing workflow for an uninterrupted process and to avoid having to work in multiple systems. 

We have also developed dynamic document previews. This gives underwriters the opportunity to review or adjust in real-time, as well as link to clauses or other assets to extract the correct information to be added to these documents.
 

Surety

We recently added Surety as a specialised Line of Business within the Underwriting Workbench. This means it can be made available and ready-to-go for customers with limited configuration.  

This enables insurers to setup and manage a facility and bonds, and leverages some of our components such as document generation, task management, and integrated rating to manage your Surety from within our Underwriting Workbench.  

For more information or a demo on this line of business, you can book a demo here.
 

Smart Submission enhancements 

We launched Smart Submission earlier this year with the aim of transforming the way insurers managed submissions. This product solves a critical step in the underwriting process, and we have continued to enhance this product with improved performance and more integration options for our customers.  

We can process more submissions in less time with greater accuracy and we expect this to improve submission-to-quote ratios for our clients.  

We continue to expand our range of integration partners to provide insurers with more choice. We have recently added Azure give insurers another option alongside Open AI.  

We also now integrate Gmail as an email client to make these integrations easier.

 

Task Management 

As we shift towards remote work, underwriting is no different and requires efficient project management and collaboration tools that work in both remote and traditional work environments.  

We’ve created these Task Management tools to help underwriters organise and track tasks related to insurance operations in a way that make sense for operations and underwriting teams.  

This helps track task progress, link tasks to individual risks, and allocate tasks as required.  

You can read more about Task Management here.
 

Send Connect 

Send Connect remains at the core of our Underwriting Workbench and continues to enable insurance-focused APIs that simplify system integration. 

Our library of pre-built integrations makes it possible to deliver seamless underwriting integrations and faster deployments with our Underwriting Workbench platform.  

This means that insurers can confidently connect with legacy systems or use these specialised APIs to streamline and automate various processes within the underwriting workflow. 

We’ve also recently added integration capabilities with the following partners: 

  • hyperexponential 
  • Salesforce 
  • Streamlit 

Have a look at our full list of our integrations here

 

What next? 

Feedback has been invaluable in shaping our roadmap, and we encourage you to keep sharing your thoughts and ideas with us. 

We’ve got some enhancements planned within the Underwriting Workbench with more on Document Management, Task Management, Referrals, and a few other components to help streamline your underwriting process.  

If you’d like to book a demo or are interested in a more detailed product roadmap, you can book a call with us here 

#underwritingevolution 

 

 

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