Actuarial and analytics firm Finity has launched an end-to-end specialist underwriting technology platform following a pilot with a large insurer. 

Finity says the cloud-based Uniwriter platform replaces a range of legacy tools and technologies, allowing insurers to consolidate underwriting processes into one system.

Head of product management and marketing Marcello Negro says the firm has expanded its technology capabilities and has more than 100 organisations subscribing to its data, automation and AI products in Australia and New Zealand. Its rating engine platform Finrater is being used by more than 15 clients. 

Uniwriter, Finity’s first end-to-end underwriting platform, was used in a full-scale pilot with a large national insurer as the client, allowing it to be stress tested with real-world scenarios, the firm says. 

“We are in discussions with other insurers and underwriting agencies that are interested in using Uniwriter,” Mr Negro told insuranceNEWS.com.au today. 

He says the platform has been tailored to the way underwriters work, rather than being a generic “out of the box” solution, and can be easily integrated with existing systems. 

“An initial implementation has been specially configured for Australian property, and Uniwriter, more broadly, is easily configurable for other jurisdictions and classes of business,” he said. 

Finity says the platform enhances the underwriter, broker and customer experience by enabling more timely and effective underwriting decisions, rigorous risk controls and robust process governance.