Why Manual Underwriting Is Still King in an Automated World

By Joe Alberti Jun 27, 2017 10:00:00 AM



Automation can create efficiencies by improving previously manual processes. But humans should still have a hand in the insurance underwriting process.

Ready or not, machine learning is infiltrating a number of industries—including insurance underwriting. In fact, CareerCast lists insurance underwriting as one of the careers that will be most affected by automation.

But just because insurance underwriting has traditionally required high amounts of manual administration, that doesn’t mean it should be completely hands off once the machines are here. Preserving a personal touch in the underwriting process can have big benefits.

Solutions aren’t one-size-fits-all.

Want to truly cater to customer needs? Customization is key. While partnering with an underwriter who automates the process of analyzing data and serving up solutions might work some of the time, it won’t let you address unique customer needs. By keeping real people involved, you can personalize the process and tailor solutions to fit customer demands—rather than trying to fit square pegs into round holes.

Customers value live support.

We get it: customer service isn’t always fun. But, when it comes to automated support, we guarantee your customers feel the same. Insurance underwriting can be tricky, which is why your customers should have access to real people to answer questions. Partnering with an underwriter and TPA that answers customers’ questions in real time can show them you care about providing the answers they need in a way that keeps them comfortable.

There’s always room to improve.

Prioritizing efficiency isn’t a bad thing, but it isn’t always great for innovation. Automating insurance underwriting is a great example. Keeping humans involved in the underwriting process allows for outside-the-box thinking that prevents a dip in innovation, which leads to improved solutions. Additionally, having access to a partner network of experts who can help you get to those game-changing solutions will improve your customers’ experience as well.

Yes, the machines are coming, but in the insurance underwriting industry we shouldn’t let them take over altogether. If customers are your priority—and they should be—don’t let automation eliminate personalization in your underwriting efforts.

Want to know how Fortegra tackles insurance underwriting? Check out our well-rounded list of partners who allow us to take on up to 20 percent of your risk!

Categories: Specialty

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