IBSuite: Underwriting Workflows

Whether you are underwriting for cover of an oilrig or a car there are plenty of reasons to choose IBSuite as your underwriter system. The combination of increased competition and an increased Government interest for data privacy- and financial regulations call for the type of IT-service that increases your reach and capacity while safeguarding that all documentation is in place.

Adapting to new conditions
The need for speed in creating and changing insurance products are more important than ever, due to the growing affinity business and the desire to target narrower customer segments. Therefore, you cannot allow that the creation of a new insurance product turns into an IT project. Setting up new insurance products or creating a product variant must be done in hours or days by configuration and scripting only, and should be deployed without any IT downtime at all.

However, it is not only about time to market and about the cost of large IT projects. It is also about having the ability to detect and react as quickly as possible on metrics that indicate if external changes are impacting your business; does sales of a certain product suddenly drop? Has a broker lost momentum? Or, maybe even worse, are the risk profile of a certain portfolio changing rapidly? All indicators that you must have access to on a daily basis, and cannot afford to wait until the month or quarter end to realise. With IBSuite your underwriting platform becomes absolutely agile.

If IT is not your core business …
Managing IT projects all the way from requirements specification to deployment on own hardware can be challenging for organizations with scarce IT-resources. Therefore, we recommend your underwriting system to be IBSuite which is designed with focus on quick and agile implementation, and is deployed as Software-as-a-Service where all operations and maintenance are taken care of by IBA in our dedicated data centre.