From a shortage of underwriting talent to inflation and climate change, a blue-chip roster of insurance leaders came together to explore trends in the P&C industry, how they are driving product transformation, and how Unqork’s Codeless as a Service (CaaS) platform can help, including:
- Chris Skarinka, President, Public Risk Group, Tokio Marine
- Vladimir Stojanovic, Partner, Oliver Wyman
- Russel Mason, Director, Insurance Technology, Vivint
Volatile conditions require more data and insights
In order to respond to serious challenges like climate change and inflation, insurers need more data and insights to ensure that they are taking on the right level of risk. Unqork is helping them do just that.
“Where Unqork is being impactful for us is we need to collect more data on our exposures than we do right now,” says Skarinka.
Vivint has also been able to respond quickly to rapidly evolving challenges, thanks to the way CaaS accelerates development
“We have a relatively small team,” said Mason. “But we’re able to really push and get a lot done quickly with Unqork.”
Happier, more productive underwriters
By connecting, automating, and digitizing processes, CaaS is also helping P&C insurers make the most of underwriting talent, critical at a time when such talent is in short supply.
“We’re widening our funnel at the top, and then agents are submitting more to us,” said Starinka. “But then it’s also narrowing the funnel on the bottom, so our underwriters are focusing much more on the accounts that matter.”
“We’ve found this tool has created a much higher sense of ownership among our team and removed a lot of administrative burden,” he adds. “I think they’ve seen a higher retention on our team because what they do on a day-to-day basis.”
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