The insurance industry has perhaps never been more cut-throat: fickle customers are demanding more, technologically savvy start-ups are instantly competitive, and ever-changing regulations add complexity and uncertainty to everything. In such an unstable, precarious climate, an insurer's survival might just depend on how quickly and intelligently they can automate their underwriting decisions.
Such was the case with one leading provider of personal lines of property and casualty insurance, who then partnered with FICO to roll out real-time, risk-based underwriting. The results have been sensational, as the firm was able to lower their combined ratio, reduce underwriting losses, and improve their targeting of new business. That's because effective automation has a cascading effect; your decisions are smarter and faster, which improves profitability and customer satisfaction, while simultaneously freeing up your agents to look for more opportunities. Best of all, FICO can integrate with your organization's existing infrastructure, enabling you to avoid a costly and time-consuming overhaul.
Please download our case study for all of the details on this particular firm's turnaround, and let us know if we can help you, too!
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