Average carrier performance 8.31
Brokers know that experienced, effective underwriters are crucial to delivering superior coverage and pricing it competitively – that’s why this category consistently ranks among their top three priorities when choosing a carrier. Overall, carriers saw a sizable increase in their average score in this category compared to last year, and many brokers voiced appreciation for their underwriters’ knowledge, talent, diligence and excellent communication.
“Underwriters are very knowledgeable about their products and how they can best serve the client,” one respondent said, adding that their carrier’s underwriters “are tremendously talented across multiple disciplines.” Another said: “I can always rely on my underwriter for knowledge and expertise.”
Suggested improvements include further training and more stability in the form of an assigned underwriter, as well as a desire for less conservative, more flexible underwriting. “We have many issues with consistency in underwriting,” one broker said, while another wished that carriers would “leave experienced underwriters in place to teach, mentor and train new talent.”
Along those lines, a couple of respondents found underwriters’ inexperience to be a hurdle. “It’s an age thing; younger individuals in the chain means less experience and gut knowledge. A lot of decisions are strictly ‘by the book,’ which leads to lost opportunities,” said one broker. Added another: “Young underwriters need to learn how to think out of the box and work with more experienced underwriters.”