To drive profitability and provide stability, the insurance industry must continue to digitize and maximize data and analytics, helping to quantify and better understand emerging risks. With a record-breaking hurricane season, for example, the property industry could specifically benefit from continued data analytics, as it continues to face increased and emerging risks.
A foundational element of CNA’s approach is working with Archipelago. After a successful pilot in 2020, Archipelago will become the submission intake platform for renewals and new business for CNA’s National Accounts Property team in 2021. By working with Archipelago, CNA will help increase the productivity of its underwriters, allowing them to be more responsive to market opportunities, drive better results, and grow CNA’s industry leadership.
Every renewal and new submission CNA’s underwriters review will now be loaded onto the Archipelago platform, standardizing workflow and automating key intake analytics. This will empower underwriters with machine intelligence to enhance underwriting insights across more levels of data - all of which will increase interaction with brokers and clients as well as further constructive discussions about their risks.
Additionally, using data provided via secure broker-provided links to Archipelago’s SaaS platform, CNA can easily access permission-based insights on key drivers, year-on-year changes as well as model-ready files. This is all backed on-platform by provenance and lineage to authentic sources, giving CNA not only standardized and efficient views but greater confidence in the underlying basis for its decisions.
CNA’s focus is more than just improving performance. It is about sharing learned insights with brokers, empowering colleagues across the market with proactive insights. Greater transparency and actionable data across the value chain can lead to more insightful and strategic underwriting.