Industrial insurer, HDI Global has launched a new system for end-to-end support of the underwriting process. The Underwriting Workbench is a central application that takes underwriters through the process, supports pricing and consistently records relevant data.
Since October 2019, approximately 800 users have been working with the Underwriting Workbench in the lines liability, marine, cyber, property and engineering insurance in 26 locations across the world.
The aim of the workbench is to standardise pricing and the approval process and to unify these processes across different lines. The management of process sections specific to lines and products is carried out with the assistance of the underlying product configuration using Faktor-IPS from Faktor Zehn.
The launch project started after a proof-of-concept phase in May 2018. October 2018 also saw productive operation with a product from the liability line of business for locations in Germany.
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