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Insurity, a Hartford-based provider of cloud-based software for insurance carriers, brokers, and MGAs, has announced the launch of its new, cloud-based Sure Underwriting Workbench. The vendor is currently offering the solution at a 50 percent base license fee discount to property/casualty carriers, and will waive all direct written premium (DWP) based charges for the first year of a license. The vendor says the first five existing Insurity customers who license Sure Underwriting Workbench will also receive 500 implementation hours for no charge as part of the promotion. To qualify for the discounted pricing offered by the vendor, property/casualty carriers must execute a three-year contract of Sure Underwriting Workbench by September 30, 2022.
The new solution was created to address the challenges of changing market conditions and new and emerging technologies. Insurity’s announcement of the launch of the Sure Underwriting Workbench notes that underwriters are often slowed down by the same routine decisions, manually needing to search for data in too many places, and having difficulty working in the accounts simultaneously with their teams. The vendor says the new solution underwriters to automate routine decisions so they can spend more time focusing on complex and emerging risks.
Sure Underwriting Workbench is designed to streamline the underwriting process and improve decision-making by enabling an account-level view of risk to underwrite multiple products together regardless of policy systems, Insurity says, adding that underwriters using the solution can identify bottlenecks and opportunities to streamline operations with readily available operational metrics. By consolidating all data, documents, and decisions into a single, cloud-native workbench, property carriers can reduce the number of underwriting tools they need by half when leveraging Sure Underwriting Workbench, according to the vendor.
“Sure Underwriting Workbench solves many of the issues underwriters face in this rapidly evolving market,” comments Sylvester Mathis, Chief Insurance Officer, Insurity.
The solution reduces the time underwriters spend sifting through different data sources and systems by bringing all data together in one place. Sure Underwriting Workbench’s cloud-native platform works with any policy admin system to enable real-time collaboration, automated decisions, and a holistic data view.”