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Insurance Underwriting Software for Faster Rating Decisions
Client Overview
The client is a leading US-based auto insurance provider offering both vehicle owner and non-owner insurance policies. To maintain service quality and support future growth, this insurer wanted a more scalable approach to underwriting operations, premium calculation, and policy processing. They needed a comprehensive insurance underwriting software that brought risk-based pricing, real-time data validation, and third-party data integrations together into one platform.
Challenges
- Premium calculations relied on information from multiple data sources.
- Underwriting teams needed to validate driver, vehicle, claims, and risk information before generating quotes.
- Manual processes made it difficult to maintain speed and accuracy at scale.
- The client needed custom insurance software capable of handling both owner and non-owner policy types.
The Solution
We designed custom underwriting automation software to digitise premium calculation processes while improving operational efficiency.
The solution brought together multiple underwriting functions within a single platform. Here’s what it did:
- Automated underwriting validations
- Calculated premiums based on validated driver, vehicle, and risk information.
- Supported vehicle owner and non-owner insurance policy workflows.
We connected the platform with third-party data providers to verify and augment information in real time. This enabled underwriters to access accurate driver, vehicle, claims, and violation data without relying on manual verification processes.
The insurance underwriting software also supported dynamic re-rating capabilities. Whenever policy information changed, the platform could automatically revalidate the data and recalculate premiums based on the latest risk profile.
The solution included performance optimisation features such as response caching, which reduced unnecessary third-party API calls, improved system responsiveness, and supported high transaction volumes.
Business Impact
The client moved from manually intensive underwriting processes to a scalable IT solution for insurance industry operations.
With rating, validation, and underwriting workflows working together in a single platform, the insurer can now process approximately 1,800 new policies every day while maintaining consistency across underwriting decisions.
Growing policy volumes putting pressure on underwriting teams?
Download the full case study to see how this insurer tackled the challenge.
In a dynamic business environment, scalability is crucial. IT services provide the flexibility to scale up or down your resources based on changing business needs. Cloud services, for instance, allow seamless expansion of storage and computational power
Serana Belluci
Product Designer
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