UnderwriteMe
Shaping The Future of Underwriting with Digital Disruption

The rapidly changing insurance landscape hastens the need to transform the insurance industry through digital disruption. That is why UnderwriteMe’s mission is to develop technology products that disrupt and enable the future of distribution and the future of underwriting in their chosen markets. It streamlines the insurance application process and bridges the gap between insurance seekers and providers. The company is not just another player in the industry; but is at the forefront of reshaping the future of underwriting.

“Our primary is to help make insurance more accessible to everyone.” says Paul Hughes, Head of Asia Pacific at UnderwriteMe.

Take the complex and jargon-filled insurance landscape, for instance. The application process can often be unclear and intimidating for many consumers. UnderwriteMe recognizes these challenges and is dedicated to simplifying the insurance journey. By using straightforward language, helpful text, and intuitive follow-up questions, it ensures a smoother application process, ultimately making it easier for people to obtain insurance coverage.

UnderwriteMe has evolved its underwriting engine into a comprehensive Decision Platform. It empowers life and health insurers to automate various aspects of the new business and underwriting journey, significantly enhancing the customer experience. This approach helps individuals secure essential insurance coverage for themselves, their families, and communities, contributing to overall societal well-being.

The Decision Platform serves as a foundation for a new era in underwriting. Insurers can leverage new data sources, predictive models, and artificial intelligence to augment their underwriting processes further. This datadriven approach varies based on each insurer’s unique requirements, but UnderwriteMe’s modular and dataagnostic platform makes it all possible.

Zurich Australia Limited (Zurich) is an excellent example of how UnderwriteMe can transform the underwriting process. It utilized the Decision Studio module to deliver automated underwriting for common blood testing and short medical exams as part of their new business process. Through the Decision Studio, Zurich is not only able to collect the data sources digitally and at reduced manual effort but also execute complex decision-making with outcomes tailored to the specific customer applications. This helped Zurich to accelerate their automation initiatives and accept more customers electronically with a straight-through acceptance rate of 50%, saving the customer and the underwriters time and driving ever more innovation through improved capture and handling of key data sources used in underwriting.
For insurers seeking to tap into the benefits of AI and modeling, UnderwriteMe offers the option to adopt their proprietary models. This creates a fast, efficient solution with various use cases, ultimately enhancing straight-through processing (STP) rates without compromising on risk management.

UnderwriteMe envisions a future where “underwriting rules engines” are not merely operational efficiency tools but comprehensive decisioning platforms. These platforms allow insurers to modify decision-making processes, aligning them with specific products or distribution channels. The future is all about embracing automation, harnessing data, and integrating AI and models into the insurance ecosystem, a world where UnderwriteMe stands as a leader.

Its commitment to making insurance accessible, understandable, and customizable is beneficial for countless individuals and families seeking protection.