Underwriting in the property insurance business has traditionally got a bad rap. Distrust between insurers and insureds is the norm when much of the process is shielded from the customer’s view, while on the other end, underwriting is often a drawn-out and costly affair. Inefficiencies throughout risk assessment and the human-led nature of property underwriting only serve to compound the issue and demonstrate the need for change.

However, transformation is already underway throughout the industry. Companies are looking to create hyper-personalized experiences for their customers, making policy transactions and the claims process more convenient and efficient. Empathy is also becoming a leading consideration when dealing with customers, which is necessary to form trust between insurers and insureds.

The new frontier of insurance

We look at the key ways in which insurance is evolving as an industry:

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New business models

Disruptive business models like peer-to-peer insurance and usage-based insurance are gaining popularity.

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Personalization

Hyper-personalization is transforming customer decisioning for the industry.

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Customer centricity

A customer-first approach is gaining traction in all offerings by providing hassle-free experiences across the insurance journey

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Next-gen technology

New technologies (remote intelligence, cognitive/conversational AI etc.) are currently underutilized in insurance.

Time to flip the script

New business models

Disruptive business models like peer-to-peer insurance and usage-based insurance are gaining popularity.

Time to flip the script

Customer centricity

A customer-first approach is gaining traction in all offerings by providing hassle-free experiences across the insurance journey

Time to flip the script

Personalization

Hyper-personalization is transforming customer decisioning for the industry.

Time to flip the script

Next-gen technology

New technologies (remote intelligence, cognitive/conversational AI etc.) are currently underutilized in insurance.

What you’ll see

In this paper, we take a close look at the underwriting process and how it might evolve with the industry as a whole. In particular, we highlight the key obstacles that stand in the way of a more customer-centric approach, and the ways in which a no-touch underwriting system can be used to deliver sustainable growth.

Learn more about what underwriting will look like in the new age of insurance. Download our whitepaper now.

Download the full whitepaper

Learn more about what underwriting will look like in the new age of insurance. Download our whitepaper now.

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    Meet our experts

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    Anindya Sengupta

    Client Partner, Insurance

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    Shagun Parab

    Associate, Strategic Center

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    Himanshu Nautiyal

    CPO, Product

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    Mounika Maddula

    Senior Data Scientist, Machine Vision

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    Sagar Shah

    Client Partner, Dimension

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    Sankar Narayanan

    CPO, Insurance

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    Shivani Gupta

    Lead Behaviour Architect, Dimension

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    Suraj Amonkar

    Fellow, Machine Vision

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    Rashid Khan

    Engagement Manager, Insurance