INSILLION featured in Datos Insights P/C Commercial Underwriting Workbench Report 2024

P&C Underwriting Workbenches 

Underwriting remains central to insurance, but it's being reshaped by AI, predictive analytics, and advanced data technologies. These tools are not just improving underwriting efficiency, they're redefining how insurers compete. 

Forward-looking insurers are using technology to speed up processes, unlock data-driven insights, launch new products faster, and deliver more connected, automated experiences for underwriters, brokers, and customers. This creates clear advantages in efficiency, agility, and market expansion. 

To stay competitive, leading P&C insurers are adopting underwriting workbenches. An underwriting workbench is a digital platform that supports the end-to-end underwriting workflow, drives effective collaboration, and helps insurers with real-time policy issuance. 

Why is the underwriting process currently so burdensome?   

Underwriting continues to be one of the most resource-intensive functions in P&C insurance. According to Accenture, underwriters spend up to 40% of their time on administrative and non-core tasks, while McKinsey reports that cost performance in P&C insurance has remained largely flat for over 15 years.  

Underwriters today are often forced to work across multiple disconnected legacy systems, re-entering the same data in different places. Inconsistent data intake, manual workflows, and siloed information result in high error rates, slow quote turnaround times, and poor visibility across programs. Even with all this time spent validating data, a Harvard Business Review study found that 97% of companies are using data that didn't meet their own data standards. Misalignment between business and technology teams—and dependence on rigid, code-heavy systems further limits insurers' ability to develop and iterate products quickly enough to meet changing market needs. 

Product development is another major constraint. Deloitte reports that insurers typically take 12–18 months to launch a new product and 3–6 months to update existing coverage, severely limiting time-to-market and profitability. 

Legacy policy administration systems and code-heavy architectures also restrict collaboration between business and technology teams. Product rules, workflows, and pricing logic are tightly coupled to complex code, making fast, iterative development difficult.  

As climate volatility and emerging risks reshape the market, P&C insurers are increasingly recognizing the need to modernize underwriting operations. Underwriters spend excessive time on low-value administrative tasks, while clients face delays. Not surprisingly, Deloitte reports that 68% of insurers are prioritizing technology investments specifically to improve customer experience. 

P&C Underwriting Workbench Report

P&C Underwriting workbenches are essential for consolidating interfaces and workspaces into a unified view, enhancing underwriter productivity. The INSILLION Underwriter Workbench simplifies underwriting operations, allowing underwriters to independently set up and modify products while managing rate tables and master data with ease.

Recognized for its innovation, INSILLION has been featured in Datos Insights' 2024 report on P&C Commercial Underwriting Workbenches. This report, published by a leading business consulting firm, highlights the key features and differentiators of INSILLION's solution alongside 14 other industry-leading platforms.

Looking Ahead 

As insurers expect AI adoption in underwriting to rise from 14% today to nearly 70% over the next three years, platforms that combine automation, data intelligence, and flexibility will play a central role in shaping the future of underwriting. Insillion's recognition in the Datos Insights report underscores the growing importance of modern underwriting workbenches in helping P&C carriers improve productivity, reduce costs, and respond faster to market change. Insillion's no-code platform enables P&C insurers to take complete control of the development of an end-to-end digital underwriting and policy administration system.