Insurtech Aventus has launched a digital underwriting solution for both complex and standard insurance products. The technology caters for high volume personal lines products as well as commercial products requiring a high degree of flexibility. The solution also includes dynamic automated bordereaux reporting and performance analytics.

Mike Scott, engineering manager at Aventus, said: “It can perhaps be helpful to think of our digital underwriting as a digital rating engine deconstructed. We’ve rethought the traditional ‘black box’ rating engine approach, where you put data in and you just get a price back, and instead allowed for underwriters to manage the distinct steps of underwriting rules, application of endorsements or conditions and excesses, and finally the pricing calculation.

“Whether peril based or algorithmic, each cover item has greater visibility and customisability. The result is an automated system that flexes as needed, allowing insurers to have mass-market product distribution yet maintain responsiveness to individual customer needs and situations.”

Share Story: