Rewriting the Property Underwriting Playbook

Signals Engine excels at automating complex tasks. For property and casualty insurers, this means smoother policy generation.

Problem

Generating property and casualty insurance policies requires analyzing many unique risks. However, lengthy interviews with each new client before providing a quote results not only in a bad experience for the customer—who is forced to dig up documents and provide reasoning for business decisions—but also leaves the insurance firm vulnerable to the risk that this self-reported data is incorrect. Historical data about a particular building or geographic area can dramatically enhance risk assessment, identifying features such as the presence of a kitchen or a particular boiler in a space—if you know where to look.


Automated underwriting holds the promise of better process flow, higher customer service levels, enhanced agency communications, improved tracking, more consistent underwriting decisions, faster throughput — all leading to the opportunity for significantly higher profits.

Solution

Drawing upon a proprietary mix of public and private data sets, we've developed a specialized Signals application that relies on unified data for each property location to generate metrics of risk, alerting lenders to changes in a location's profile in real-time. With a better view into customer profiles immediately upon application, insurance policies can be prioritized accordingly, and redundant information requested of the customer is vastly reduced. With an incredibly broad array of data, Enigma is uniquely positioned to trace as many of these footprints as possible.

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1. Enigma sources and unifies property and business-related datasets, large and small.

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2. Our Abstract platform disambiguates and connects like records, piecing together a building's life cycle across multiple data sources.

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3. The Signals application generates risk metrics and real-time alerts to changes in a location's profile.

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4. Signals stream straight into the automated underwriting process to provide an agent or algorithm with the necessary intelligence to make a decision without time-consuming customer interaction.

Curious to hear how Signals can help your organization? Contact us below.

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