The panel discusses the future of the chief underwriting officer in the insurance industry and how the position will evolve going forward.
Today, in most insurance organizations the underwriting function is fragmented into market segment or lines of business. These profit and loss centers drive demand for product, and technology solutions for their areas. Although this model can encourage internal competition and tactical success, it has also resulted in fragmented underwriting processes, operations, data and systems. As a consequence, insurers are left with IT environments and operations that are costly to maintain and difficult to change. They also lack the resources needed to drive strategic investments.