Webinar Archive
Ease of Doing Business, The UMS Way:
Building and deploying a customer centric strategy to beat the soft market doldrums
Presented on 03/04/08
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Several leading indicators predict the continuing soft market. How do you grow your business profitably in a highly competitive market?
Insurers face increasing price pressures and as a result, earn less revenue on the same number of accounts. The challenge is to scale their businesses efficiently and profitably, while at the same time, making it easier for agents to do business with them. Forward thinking carriers, who make it easier for agents to do business with them and who underwrite faster and more accurately, will continue to capture higher shares of better risks – driving higher retention, profit and market share.
Next-generation underwriting management systems support such a strategy, enabling automation and real-time collaboration with agents through an easy, Web-based interface – with the added benefit of greater underwriting consistency, visibility into the process, and a lower total cost of operation.
Join us for this webinar to learn how P & C carriers can increase efficiency, effectiveness and service delivery to their agents:
- Technology: What type of technology is needed to scale your business and make it easier for customers to work with you?
- E Best Practices: How do you deploy a customer-centric system to increase market share and increase service levels to agents and brokers?
Hear from Industry Experts:
David West – Research Area Director, TowerGroup
John Belizaire – CEO, FirstBest Systems, Inc.
Julian Pelenur – CTO, FirstBest Systems, Inc.
Moderator:
Ara Trembly – Senior Technology Editor, National Underwriter
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Making Predictive Analytics Operational for Real Time Underwriting
A Combined Solution Brought to you by FirstBest Systems and Valen Technologies
Presented on 12/06/07
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In a softening market, insurance carriers are rightly concerned about the downward spiral in premiums. Forward-looking carriers are searching for strong competitive advantage. Carriers who can segment their business more granularly and implement precision pricing strategies will retain a higher percentage of lower risks and avoid higher risks altogether.
The only way to truly leverage predictive modeling is to be able to incorporate the models into your day-to-day underwriting process. If the models cannot be made operational, you are not deriving the full business value. However, building, integrating and deploying predictive models into your underwriting environment has proven to be challenging.
FirstBest Systems, developer of next-generation Underwriting Management SystemsTM provides a comprehensive underwriting solution that integrates real-time, operational predictive models from Valen Technologies, a pioneer in predictive analytics for the insurance industry. The result: pricing precision at the underwriter’s desktop.
Join us to learn about how the combined FirstBest-Valen solution enables carriers to increase profitability by making predictive analytics operational for real time underwriting:
- Match premium to risk
- Credit only those risks truly worth chasing in a soft market
- Avoid adverse selection
- Unlock underwriting decision data
Request the recording for this Webinar and learn how you can enable a powerful underwriting solution by combining Valen Technologies Predictive Analytics with the FirstBest Underwriting Management System.
Underwriting in a Soft Market
Presented on 10/18/07
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The commercial lines marketplace is experiencing major shifts. Natural disasters and the advent of new business models are pressuring carriers to find new roads to profitability. Several leading indicators predict the continuing soft market. Today's insurance executives are increasingly eager to maintain high levels of growth and profitability, regardless of changing market conditions.
The question is, how do carriers ride out this soft market and what can they do to maintain and improve profitability despite it?
A CPCU members’ surveys identified critical issues and trends in property and casualty underwriting. They also assessed the impact that technology has had—and could increase—on the ability to perform more efficiently and more effectively. These findings are compelling and all point to technology as being an excellent enabler in most areas of underwriting.
Please join us as we review underwriting strategies and technologies, key to conquering this soft market, that enable:
- Better customer/account selection
- Precision pricing through predictive analytics
- Automation for ease of doing business and producer loyalty
- Reduction in premium leakage
- Underwriting knowledge capture and management.
Hear from our industry experts:
- Amy McAdams - Tech Decisions Magazine
- Barry Rabkin – Senior Research Analyst, Insurance, Financial Insights, an IDC company
- John Belizaire - CEO, FirstBest Systems, Inc.
- Julian Pelenur - CTO, FirstBest Systems, Inc.
Profit From Better Underwriting
Presented on May 2007
Mid-tier commercial property and casualty carriers face a number of business challenges as they attempt to grow market share, fend off competition from larger carriers, and enhance their relationships with customers and agents. Many carriers are looking for better ways to increase underwriting revenue and profitability and decrease the influence of soft market cycles and the reliance on investment income.
Learn about emerging technologies to help carriers achieve these business goals:
- Leverage straight-through processing and improve combined ratio
- Decrease underwriting leakage
- Collaborate in real-time and significantly improve ease of doing business between agents and carriers
- Create and deploy new underwriting rules and products fast
- Enable management visibility into the underwriting Process
- Leverage knowledge management (KM) and predictive analytics
Hear from our Industry Experts:
- Matthew Josefowicz, Senior Analyst, Celent
- Julian Pelenur, CTO and Founder, FirstBest Systems, Inc.
Moderator:
- Edward McKinley, Executive Editor, Insurance Networking News
For additional information or to schedule a demo, please contact Meira Primes, VP of Marketing at 781.863.6005 or mprimes@firstbest.com.