Gartner Research

New Underwriting and Workflow Technologies Driving Life Insurance Profitability

Published: 19 March 2012

ID: G00232487

Analyst(s): Steven Leigh


Electronic underwriting and new business workflow technologies are transforming North American life insurers' processes and providing new ways to design, price and deliver insurance products. Plan to deploy underwriting workflow and electronic underwriting systems to maintain your competitiveness.

Table Of Contents
  • Impacts


  • Impact: Underwriting in minutes is saving money and is fast becoming the norm with the use of new workflow and underwriting tools; this leaves insurers with longer underwriting cycles and increased costs at a competitive disadvantage
  • Impact: New underwriting tools are enabling life insurers to create new products that leverage technology and different underwriting requirements to create a cost-competitive blend of simplified issue and fully underwritten product elements
  • Impact: In three to five years, the ability to capture underwriting guidelines and decision styles and to quickly change underwriting rules with electronic underwriting tools will give life insurers unparalleled ability to compare claims experience with underwriting decisions and respond with small adjustments to the decision methodology
  • Impact: Insurers that achieve issue times in minutes will be able to develop new sales channels that position life insurance as an add-on, rather than a primary product
  • Impact: The automation of the underwriting decision process will decrease life insurers' requirements for human underwriters, thereby lowering costs and avoiding underwriting resource constraints

Recommended Reading

©2021 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner is a registered trademark of Gartner, Inc. and its affiliates. This publication may not be reproduced or distributed in any form without Gartner’s prior written permission. It consists of the opinions of Gartner’s research organization, which should not be construed as statements of fact. While the information contained in this publication has been obtained from sources believed to be reliable, Gartner disclaims all warranties as to the accuracy, completeness or adequacy of such information. Although Gartner research may address legal and financial issues, Gartner does not provide legal or investment advice and its research should not be construed or used as such. Your access and use of this publication are governed by Gartner’s Usage Policy. Gartner prides itself on its reputation for independence and objectivity. Its research is produced independently by its research organization without input or influence from any third party. For further information, see Guiding Principles on Independence and Objectivity.

Already have a Gartner Account?

Become a client

Learn how to access this content as a Gartner client.