Underwriting Contract Mode

Underwriting Contract Mode, also known as "underwriting mode" and "contract mode," is a special feature available to underwriters that greatly facilitates underwriting individual contracts. This functionality streamlines data entry for individual contracts so that users can get to the results that they need quickly. Underwriting Contract Mode enables you to analyze individual contracts rather than groups of contracts or whole books of business. This capability addresses a very real difference in the way primary insurance underwriters and reinsurers approach running analyses. Whereas reinsurers typically run analyses on multiple contracts at once, underwriters analyze and underwrite single exposures at a time.

Using Underwriting Contract Mode, underwriters can pinpoint their exposures on a map, conduct exposure data quality analyses, generate reports to confirm adherence to underwriting guidelines, be alerted to clash possibilities, and run loss analyses. The centerpiece of Underwriting Contract Mode is a dashboard that collects all of the aforementioned analytics and data points and displays them in a neat, concise, and easy to consume format. This efficient display enables an account underwriter to assess the risk associated with individual policies or contracts quickly. Further, account underwriters can evaluate the quality of the account's exposure data and whether the locations violate a company's underwriting guidelines as well as the catastrophe risk profile of the policy. A new Clash analysis reveals whether a location within the policy being considered is collocated with other risks already assumed.