Director, Product Strategy at Insurity, Inc.
There seems to be a new focus on user interface technology—how does UI play into building a reliable and efficient portal for communications with the distribution channel?
There is a lot of focus on responsive design as a modern UI format. (ie. ensuring that it renders on all devices and operating systems). But those are simply technology table stakes. The UI ultimately needs to do the following to be effective for distribution channel users:
• Simplify presentation of an often highly complex and data intensive process
• Enable dynamic presentation typical of a highly interactive data-driven experience
• Easily tailor to roles and/or personalize to enable the often complex series of relationships (e.g., MGA’s view reflects carrier’s brand; MGA extends view with MGA brand to retail agent user; policyholder view incorporates retail agent brand, etc.)
Why are systems that can access realtime structured and unstructured data so important for the underwriting process?
For starters, underwriting should be viewed as inclusive of the submission/qualification process. The more a risk has been vetted through the initial phases of processing, the more an underwriter can focus on a narrower set of attributes that require judgement. So it is important that a submission process can take in structured 3rd party data or data derived from, say, an on line restaurant menu; that data can hit rules that either invoke reviews or drive other data calls. Once a risk has progressed to requiring an underwriter’s review, the same factors apply to that presentation.