Leverage Data and Automation to Optimize Your Insurance Underwriting Processes

For many carriers, insurance underwriting processes rely on paper-driven workflows that can be inefficient. Underwriters can spend more time navigating these processes than working on the underwriting tasks themselves. Long turnaround times associated with paper-based, manual workflows are frustrating for your employees and customers.

But modern document automation solutions like Xpertdoc Smart Flows solve these problems and allow underwriting staff members to get more done in less time. Automating your processes eliminates manual operations, provides access to relevant data, and filters the opportunities, so underwriters can make better risk evaluations and write compliant policies that meet both internal regulations and customers’ needs.

Connected Data Sources

Risk evaluation is driven by data sources that extend beyond the databases necessary for policy administration. Automated underwriting allows insurers to draw upon a much wider database without adding to the underwriting timeline. Manual underwriters typically analyze less than 20 factors to determine risk and premium levels, but as available data sources are expanding, manual analysis is becoming more time-consuming – and overwhelming. New data sources may include complex external data such as catastrophe models, geographic data and transportation databases.

However, the additional data can help underwriting staff members identify otherwise unknown risks. As part of an automated flow, pre-built connections to outside data sources make it easy for underwriters to access this information, resulting in more accurate risk assessments. They can write variable endorsements and clauses, or pre-set deductible amounts with the confidence that these variations are compliant with the insurance company’s internal rules regarding risk and coverage.

The approved variable content can be stored in any connected data system, where it can be accessed by underwriters when needed to customize specific policies for customers.

Automated Underwriting Review Process

Xpertdoc Smart Flows is a document automation solution that lets carriers build and configure automated flows leveraging accurate data and pre-approved variable content.

Take the underwriting review process. When informed of defective policy applications, underwriting staff members can trigger a flow that instantly generates a template-based, standard policy incorporating customer information from your data sources such as CRM, ECM or policy administration. They can further tailor the generated document to the customer’s unique situation by adding pre-approved variations – endorsements, clauses, deductible amounts – pulled from your data systems. Once the new, exclusive and compliant policy is finalized, underwriters can complete the flow to confirm the approval without delay.

Automated workflows like Xpertdoc’s Smart Flows recognize next steps and initiate actions to ensure processes continue without the delays that hamper paper-based underwriting operations. This modern document automation solution facilitates collaboration among underwriting teams, speeds up decision-making and increases efficiencies, all while minimizing risk and improving compliance.

To learn more about Xpertdoc’s document generation and document automation solutions, visit our Products section, request a free 30-day trial and follow us on Twitter: @xpertdoc@pamelavelentzas

COVID-19 update

The spread of COVID-19 continues to evolve and in this context, we wish to inform you that Xpertdoc is closely monitoring the situation and would like to inform you of the measures taken by our team to support its employees, customers and partners.

We do not foresee any impact on the delivery of our services and want to assure our customers that we are executing our continuity plans in order to ensure that our customers continue to receive our services without jeopardizing the safety and security of our personnel.

In accordance with the recommendations of government authorities, here are some of the measures being taken by Xpertdoc:

Remote work for all employees
Arrangements have already been made and we have requested that all our employees work from home. Our continuity plan includes a full deployment of remote work arrangements to ensure uninterrupted service to our clients and partners.

Hosting and cloud services
We have been assured by our suppliers that there are no known impacts to these services, and we are confident that we are able to effectively manage the delivery of our cloud services to all our customers.

We have cancelled all business travel until further notice for all our employees. If employees have or will travel for personnel reasons, they will be asked to respect the quarantine delay before participating in any business activities.

Events and gatherings
All our events have been postponed or cancelled. Our employees are no longer allowed to participate in any events, seminars or gatherings.

We are committed to providing the best possible service to our customers and partners, to ensure that you can continue digital communications with your own audience. In these critical moments if we can help please do not hesitate to contact us.


The Xpertdoc Team

Mise à jour sur la COVID-19

La propagation de la COVID-19 continue d’évoluer et, dans ce contexte, nous souhaitons vous informer que Xpertdoc suit de près la situation et que notre équipe a pris des mesures pour soutenir ses employé(e)s, clients et partenaires.

Nous ne prévoyons aucun impact sur la prestation de nos services et voulons assurer nos clients que nous mettons en œuvre notre plan de continuité des affaires, afin de garantir que vous continuiez à recevoir nos services, sans compromettre la santé et la sécurité de notre personnel.

Conformément aux recommandations des autorités gouvernementales du Québec, voici quelques-unes des mesures prises par Xpertdoc :

Travail à distance pour tou(te)s les employé(e)s
Nous avons demandé à tou(te)s nos employé(e)s de travailler à domicile. Notre plan de continuité des affaires comprend des arrangements de travail à distance pour assurer un service ininterrompu à nos clients et partenaires.

Hébergement et services infonuagiques
Nos fournisseurs nous ont assuré qu’il n’y avait pas d’impacts connus sur les services d’hébergement et infonuagiques. Ainsi, nous sommes convaincus d’être en mesure de gérer efficacement la livraison de nos services infonuagiques à tous nos clients.

Nous avons annulé tous nos voyages professionnels jusqu’à nouvel ordre, pour tou(te)s les employé(e)s. Si des employé(e)s ont voyagé ou doivent voyager pour des raisons personnelles, il(elle)s seront placé(e)s en quarantaine pour une durée de 14 jours, avant leur retour au travail.

Événements et rassemblements
Tous nos événements ont été reportés ou annulés. Nos employé(e)s ne sont plus autorisé(e)s à participer à des événements, séminaires ou rassemblements.

Nous nous engageons à fournir le meilleur service possible à nos clients et partenaires, afin de garantir que vous puissiez continuer vos opérations sans interruption. Dans ces moments critiques, nous sommes là pour vous aider. N’hésitez pas à communiquer avec nous si nécessaire.


L’équipe Xpertdoc