Insuranceciooutlook

Top 10 Underwriting Solution Providers 2016

Profound technological advancements—from predictive modeling and analytics to automation, data verifica­tion and collaboration tools are altering the game for insurers. Underwriting, which has been a core part of an insurance business is thriving today by not only leveraging the traditional knowledge passed along over the years, but by offering improved rules, real-time collaboration and access to information, insight-driven analytics, and quicker execution.

Automation of processes has contributed better to this environment by alleviating the duties of underwriters and helping them focus more on risk assessment, account planning, solution development, decision-making and other activities of substantial importance. In addition to this, digital transformation is also penetrating the industry through advances like telematics, sensors, semantic web, and location-based mobile services. As technology becomes more exigent for underwriting process in the insurance industry, vendors are differentiating themselves with successful, highly customized underwriting solutions that integrate modern functionalities.

To help organizations find the best vendors, a distinguished panel of prominent CEOs, CIOs, VCs, and analysts, along with the Insurance CIO Outlook’s editorial board has assessed hundreds of underwriting solution providers and shortlisted the ones that are at the forefront of providing cutting-edge technology solutions. The listing provides a look into how these solutions are put into use, so that you can gain a comprehensive understanding of how they will optimize business processes.

Insurance CIO Outlook presents to you “Top 10 Underwriting Solution Providers 2016.”

Company Logo Company Name Company Description
EIS Group Empowers Property/Casualty and Group insurers with core solutions for rating, underwriting, policy administration, claims, billing, distribution management and customer engagement
Intellect SEEC Develops innovative insurance solutions to lower operating costs and increase premium volumes and margin
Intermap Technologies Provides a secure and cloud-based software that help insurers gain complete view of location-based risk and analytics to improve the underwriting process
ISCS Provides a cloud-based enterprise suite that mitigates risk and increases business agility for property and casualty insurance organizations writing personal, commercial and specialty lines
Kerby Reid Developer of online insurance and surety software, offering self-service, online, client- and broker-facing underwriting, sales and issuance platform
Pegasystems Develops an underwriting application that ameliorates consistency, optimizes portfolio management and ensues to higher profits with lower risks
RGA Reinsurance Company A reinsurance service provider that offers e-underwriting solutions to better manage risk, increase efficiencies, and improve profitability
SambaSafety Breaking new ground by bringing affordable data back into the quote process
STEP Solutions Group Delivers business acquisition, policy administration and claims processing solutions
TransUnion The credit-based and risk-management solutions that are rich with unique data and advanced analytics and helps carriers access accurate data