Spotlight technology: Adapting and evolving to maximise the potential of automation in underwriting

Underwriting is a key part of any insurance company, but the skills required to master the discipline are changing fast as automation becomes increasingly important to the role.

Underwriters need to adapt and evolve to realise the potential of automation, including artificial intelligence and machine learning. Insurers must now create cultures that accept automation, while educating and upskilling their underwriting teams so they can benefit from the opportunities the new technology brings. So, carriers must factor the future skills requirements for the business into their processes now.

However, building a culture that is favourable to these technologies and the positives they might bring is itself a challenging process. Effective staff communication, legacy mind-sets, the battle to attract new talent and ensuring that staff can upskill to use the relevant tools can all create obstacles.

This spotlight explores the impact automation is having on underwriting - and how staff are acquiring the skills to maximise its potential benefits.