Charles Taylor Insurtech has developed Authority Hub to enable insurers better manage underwriting and claims authorities.

The system holds and manages delegated authority letters in one central location, which is accessible across an entire business. The hub seeks to simplify and accelerate the process of delegating authority and creates a digital audit trail and real-time reporting on the authority status of a team or individual.

Tony Russell, chief commercial officer, Charles Taylor InsureTech, said, “Currently, many insurers are expending significant amounts of time and expense on the administrative effort associated with managing letters and spreadsheets to delegate authority for claims payments and underwriting decisions.”

He added: “Not only does the current model impact operational effectiveness but is also exposes insurers to regulatory compliance risks as a result of human error and limited auditing capabilities.”

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