As an insurance underwriting firm, technology plays a critical factor in the underwriting process. Everything from artificial intelligence and machine learning (AI) to the utilization of technology to model risk and exposure – technology and a solid plan for the future is paramount. This major underwriter enlisted the expertise of Digital Forge to lead a strategic planning initiative for the technology over the next several years.
Digital Forge conducted many surveys and performed targeted technology research on the most effective modern technology toolsets and the talent and executive sponsorship needed to ensure success. Most importantly, this engagement delivered the Digital Forge assurance promise; the promise that we stand behind our research, our recommendations, and the strategic planning that comes from it. If a plan was discovered to have flaws during implementation, Digital Forge would return to the table at no additional cost to ensure that the plan would execute, and any course corrections could be made in a timely fashion.
After several months of meetings, committee discussions, and research a formal plan was created that detailed the path moving forward for approval by the governing Board of Directors. The plan was unanimously accepted, and immediate implementation approved. Twelve months into the initiative the organization saw a tremendous return on investment (ROI) and was able to detect financial abnormalities in its underwriting and was quickly able to take corrective actions to ensure the organization continued to maintain profitability.
