40% of Underwriting Time is Spent on Non-Core Activities


July 21, 2014

FTI Consulting’s recent underwriting benchmark studies of leading insurers have shown that up to 40% of underwriting time is spent on non-core activities.

Some of the root causes of this problem:

  • Duplication of underwriting processes across functions and teams
  • Work allocated at the wrong level:
    • Senior Underwriters ‘processing’ rather than underwriting
  • Significant effort spent reviewing and formatting underwriting data requests
  • Inefficient hand-offs between teams and functions:
    • (on-shore, off-shore / operations & underwriting)

FTI Consulting’s underwriting diagnostic can unlock your identity and potential, typically over a period of six to eight weeks we work with clients to remove bottle necks, errors and duplication. Sometimes this just requires fine tuning, often a more holistic approach is needed.

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