Podcast: Making Risk Flow

In this episode, Juan welcomed Lyn Comeford, the Director of Strategic Projects and Operations at Markel International.They talk about Markel's growth goals and their approach to breaking the relationship between growing the business and having to increase operational costs. They also cover the way technology can help underwriters be more satisfied with their jobs; and how to bring them on board with transformational changes.

In this episode Juan invited an industry expert Dan McNally to talk about the importance of data to driving superior risk selection. Dan, with over 20 years of experience in the underwriting and brokering world shared his insights on the different types of data insurers and underwriters need, and could benefit from. Covering submission data, internal data as well as 3rd party data - how to best leverage them and what are their shortcomings.

The goal of digitising risk flows is to enable automated decision making on the best course of action for each submission, characterising each risk with granular risk information and ensuring that underwriters only work on winnable, decision-ready risks.‍ In this episode, Juan did a deep dive into the three main stages how to achieve that for the new business submissions: ‍the art and science of the submission digitisation, risk submission evaluation according to the insurer’s strategy, routing of the risk to the right downstream system or underwriter.