Carriers

The virtual underwriting service provides standardised workflow, a document library and ACORD data messaging. Each underwriter has an on-line submissions desktop where risk information can be accessed, messages sent to teams or customers, contracts can be downloaded and quotes or bound lines authorised.

With an integration, a carrier’s middle and back-office applications will be synchronised to ensure enquiries are captured quickly. As written and signed line data is authorised, processing systems can be updated or outsourcing companies alerted to deliver contract production or back-office services.

Carriers using the virtual underwriting service can literally plug in brokers and clients one by one, either by integrating their systems into the framework or by offering them ACORD placing workflow services.

Case study

A Lloyd’s and Open Market carrier integrated an insurer system to the Trading Service to create a virtual underwriting service. Read more