Allied World US, a provider of property, casualty and specialty insurance and reinsurance solutions, has implemented a new renewal underwriting approach for qualifying policies to automate renewal processing for small business.
Allied World US said this automate renewal process will enable the release of renewal quotes and bound policies utilizing the most recent underwriting information provided.
This process is currently being deployed for Standard Lawyers and (i-bind) errors and omissions businesses.
Allied World said it will continue to integrate and launch the automated renewal process for additional products.
Allied World US president Gordon Knight said this new capability represents a strategic investment in their operational platform designed to bring greater efficiency to producer partners by simplifying and automating the renewal underwriting process.
"Innovation in product and service continues to be a driving force in our approach to the marketplace. We are constantly looking for new and creative solutions like automated renewal underwriting to help us more effectively service our growing book of business, which is now over 40,000 plus customers," Knight said.