EPAM Systems, a leading global provider of digital platform engineering and development services, has released a whitepaper focused on the transformation of underwriting through advanced digital solutions.
Titled “The Future is Here: Why Now is the Time to Engineer Underwriting” the whitepaper explores the new capabilities and efficiencies that digital underwriting workbench solutions bring to the insurance industry.
Highlights in the report detail the significant strides insurers have made over the past decade in upgrading their technology infrastructures. Despite these advancements, underwriting has remained a complex and less standardised function, representing a final frontier for tech-driven transformation. The whitepaper details how componentized underwriting solutions are now viable, offering a pathway to innovation and improved performance.
Key Insights from the Whitepaper:
- Sophisticated Capabilities: Underwriting workbench solutions can now deliver sophisticated new capabilities, enhancing decision-making and operational efficiency.
- Technological Evolution: The insurance industry has invested heavily in technology upgrades, but underwriting requires unique solutions due to its inherent complexity.
- Transformation Opportunity: With the pressure for profitable growth at an all-time high, now is the optimal time for insurers to transform their underwriting processes through componentised solutions.
Launched in 1993, EPAM combines its software engineering heritage with strategic business and innovation consulting, design thinking, and physical-digital capabilities to help businesses reimagine their operations through a digital lens. The comprehensive approach ensures that clients can achieve tangible business value and stay ahead in a rapidly evolving market.
