Speed, Precision and Consistency: Implementing the Best Tools So Your Brokering Team Can Place Even the Toughest of Risks
Wholesale brokering has so many moving parts these days that it can be hard to keep up.
Underwriting and brokering talent is moving from company to company. Carriers are entering and exiting lines quickly as they try to come to grips with intimidating liability and property exposures. With all that’s going on, underwriting teams that want to prove their value to wholesale brokers need to move quickly and accurately with their quotes.
That’s why Ashley Moffatt, Senior Vice President of E&S Brokerage Primary Casualty for Nationwide, is so energized about investments in third party tools that her team is making to become a better partner to wholesale brokers.
Nationwide E&S Brokerage has invested substantially in an artificial intelligence-powered model that gives underwriters a leg-up in understanding risk more thoroughly and makes data-informed decisions for wholesale brokers in a timely manner.
“The question was, ‘Can we challenge the norms of our current underwriting process to incorporate AI-driven insights, really evaluate potential profitability and move certain levers accordingly to achieve that goal?’ ” she said.
Not only does the Nationwide model use the complete submission data, but it also scours publicly available information online to gain even more granularity into the exposure.
To learn more about Nationwide, please visit their website.