Power of the Pen
Underwriters need more than just technical prowess to excel.
October is Insurance Underwriters Awareness Month. Underwriters wield the pen, making critical decisions about what business to write and at what price. With the rise of new technologies and artificial intelligence, many wonder what the role of the underwriter will be in coming years.
The U.S. Bureau of Labor Statistics, in its employment outlook, projects a 5% decline in insurance underwriters between 2018 and 2028. Clearly people will still be needed, despite concerns about technology.
“In the States, at large carriers, in particular, the underwriting governance and authority tends to be held more centrally, not at the front lines,” said Dave Seeley, consultant with Russell Reynolds Associates.
To read the full article, click here.