Capability Dimension 4:
Agent and Policyholder Experience
Carriers operating at Level 4 prioritize the need for better digital communication and collaboration between their underwriters, agents, and policyholders. They achieve this by using digital portals and automated workflows that allow their underwriters to collaborate more effectively with policyholders and agents. This self-service approach significantly helps reduce a carrier’s call center expenses related to supporting agents during the inspection process, as well as the time spent on agent and policyholder appeals.
At the lower end of the spectrum, we see underwriters getting inundated with agent requests coming from poorly streamlined channels that drive inefficiencies and higher underwriting expenses.