Capability Dimension 5:
Underwriting - Claims Integration
At First Notice of Loss, carriers need the data collected during the underwriting inspection process to learn more about the property, validate the claim submission, avoid asking redundant questions, and deliver a positive experience to claimants. Some of the top performers have a tight integration between their underwriting and claims workflows. It is advisable to have claims data flowing back into your underwriting inspection workflow platform to help make better renewal and underwriting inspection ordering decisions.
Three-Year Innovation Roadmap
Thoughtful modernization of the underwriting loss control workflow is a key strategic lever to drive up underwriting profit. Our goal at CoreLogic is to help carriers operate at Level 4 on this underwriting inspection workflow maturity model and achieve key business objectives of obtaining a higher actionable rate, lowering underwriting expenses and loss ratios, delivering a better policyholder-agent experience, and realizing faster time-to-market on underwriting innovations.
We hope this article will serve as a three-year strategic roadmap to help transform your homeowner's insurance underwriting inspection workflow and drive business results.
About JJ Jagannathan
As the Vice President of Product Management for CoreLogic Insurance Solutions, JJ Jagannathan leads CoreLogic’s underwriting workflow platform and underwriting analytics product segments. He brings several years of product management and advanced analytics expertise to CoreLogic. Before taking on this position, he served in senior product management leadership roles, building and growing analytics products and businesses at companies like Guidewire Software.
JJ enjoys building new innovative solutions for the P&C insurance industry’s most pressing business problems. For years, he has served as a strategic advisor to several innovative Insurtech startups. He has published several insurance and analytics thought leadership articles and has presented as a part of many insurance industry innovation forums and panel discussions.