In a Tech Talk for P&C insurance, Unqork and Carpe Data discussed automating the underwriting process with their joint solution, the Underwriting Workbench.
Bob Burns, Chief Product Officer at Carpe Data, Farooq Sheikh, Insurance GTM Lead at Unqork, and Unqork’s Client Manager Andrew Khalatov took part in a recent Tech Talk to discuss the current P&C insurance landscape and how to accelerate the complex underwriting process.
Bob began by discussing two major trends he is seeing in the space, one being a focus on no-touch solutions and the other being data. “Leveraging that data to know your customer better, get a broader sense of the risk that you’re talking about,” Bob emphasized. “What are our additional indicators of risk that we’re not looking at today? And how do I create experiences that really leverage those things, leverage those data points so I can compete effectively?”
Farooq added that in order to be more nimble from a technology perspective and to become the provider of choice, insurers need “to become a lot more straight-through. Real time in terms of underwriting and the ability to provide coverages for specific risks.”
The Unqork & Carpe Data joint solution provides a clean and agile digital experience that empowers robust underwriting capabilities with speed, security, and flexibility in mind.
The Unqork & Carpe Data joint solution provides a clean and agile digital experience that empowers robust underwriting capabilities with speed, security, and flexibility in mind.
See how easy it is to use the Underwriting Workbench.
Andrew showed the audience a demo of the Underwriting Workbench by walking through a flow around workers’ compensation (which could be applicable to a restaurant or any other similar small business). He looked at how the data is consumed, how the data works in the platform’s underwriting model, and how the partnership affects the overall user journey.
“With Carpe Data immediately integrated into the process, you can streamline the data collection, you can streamline it into your underwriting model, and you can customize the overall user experience to make it as elegant and as clean as possible for whoever is using it—whether it’s an underwriter or a direct to consumer flow or a broker,” explained Andrew.
See how Unqork and Carpe Data can be used at your company and schedule a personalized demo with one of our solutions experts today. Sign for the Unqork newsletter to learn more about the potential of no-code.
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