Implementing your own Underwriting Advisor knowledge base benefits your company in many ways.
Improved Underwriting Quality, Consistency and Control
- Raises overall quality of risk evaluations
- Improves accuracy of each part of the analysis
- Highlights problems and key questions
- Reduces errors by less-experienced underwriters
- Promotes complete evaluations
- Reduces need for authorization reviews
- Provides consistency in risk evaluation
- Prevents costly oversights
- Delivers management guidelines in the context of each risk
- Speeds implementation of new guidelines
- Highlights the impact of new guidelines on renewals
- Gives management new control information
- Collects detailed data automatically for analysis purposes
- Strengthens the overall book of business
Reduced Costs for Training and Professional Development
- Cuts classroom time required for new hires
- Provides realistic practice for trainees
- Speeds transition out of training for new hires
- Provides very effective on-the job-training
- Speeds growth toward new responsibilities
- Supports self-training for multiline underwriting
Increased Underwriting and Management Productivity
- Allows underwriters to handle an increase number of risks
- Speeds screening out unacceptable risks
- Supplies reference information instantly
- Reduces uncertainties that slow evaluations
- Permits one-day home office referrals
- Allows automated underwriting of selected files
- Provides automatic documentation of each risk
- Permits timely, low-cost underwriting audits
- Reduces senior underwriter's time spent supervising