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Underwriting Benchmarks

Quantifying the impact of hx Renew on underwriter productivity

Manual data entry. Long waits for model updates. A fragmented, and broken workflow. Difficulties and delays obtaining portfolio-level reports. These are the realities of being an underwriter today.

With hx Renew, underwriters can automate data capture, eliminate data rekeying, benefit from lightning-fast calculation speeds and reduce submission-to-quote time.

The following metrics are real, proven improvements obtained from extensive on-the-ground surveys with underwriting teams.

hyperexponential targets a 2% loss ratio improvement across your portfolio

Saving the equivalent of two underwriters’ time

hdi

HDI saved 2 FTE underwriters’ worth of time by automating data capture for their UK PI book.

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Data driven decisions
Integration (connection, networks)

77% improvement in submission-to-quote time

A leading insurer drove a 77% improvement in submission-to-quote time (from 300 minutes to ~100 minutes) through ecosystem connections with hx Renew.

Learn more about the drivers of underwriter efficiency

hyperexponential unlocks a virtuous circle that benefits actuarial and underwriting teams.

 

data-capture-loop

 

Hours saved for every calculation

Underwriters at one large insurer experienced would wait an hour to run a single calculation in Excel. In hx Renew, these calculations now take less than 2 seconds.

Discover why Renew models are more performant than Excel

Invent new horizons
Enriched data (Access richest data at the touch of a button, connect up data sources)

2,100 hours saved by eliminating data re-keying

hx Renew saved a large insurer 2,100 hours that would have otherwise been spent rekeying data, thanks to third-party integrations and automated data enrichment.

See how hx Renew eliminates data re-keying

“Our new models are focused on fast ingestion of data into the models themselves and the generation of an accurate output would we can service our clients and brokers as quickly and accurate as possible.”

- Jonathan Humm, Deputy Head of Specialty at AEGIS London

92 underwriter workdays saved per annum

Eliminating re-keying into a PAS saved underwriters the equivalent of 92 workdays per annum. That’s a 38% productivity gain.

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Unlock potential and opportunity - achieve more

Benchmark your underwriting workflow

Discover how much time your underwriters could save by transforming your underwriter workflow.

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