FullCircl has outlined key strategies to help brokers enhance the quality of their underwriting submissions—ultimately enabling faster responses, improved client outcomes, and more competitive premiums. In today’s data-driven insurance market, submitting detailed, accurate, and well-structured information has never been more important.
Accuracy in underwriting submissions is absolutely essential. Even minor errors—such as outdated client addresses or incorrect firmographic details—can distort risk profiles, miscalculate sums insured, and lead to suboptimal terms for clients.
Worryingly, nearly half of the wage, turnover, and asset data brokers hold hasn’t been updated in over three years.
Brokers that use validated, real-time client intelligence—such as verified addresses, current financial data, shareholder information, and legal structure—stand out by delivering submissions that give underwriters the clarity they need to assess risk quickly and with confidence.
Descriptions that reflect the real risk
Standard SIC codes no longer paint an adequate picture of a client’s activities. Businesses today are constantly evolving in response to global pressures and opportunities, from embracing new technologies to diversifying into renewable energy.
To reflect this, brokers must provide richer business descriptions that go beyond a simple snapshot. Tools like Real-Time Industrial Classifications (RTICs) offer a more accurate view of a company’s operations. The result? Underwriters gain deeper insight into exposures and can tailor policies more precisely to the client’s risk profile.
More data is better than less
When it comes to submissions, quantity and quality both matter. Underwriters value comprehensive, well-organised submissions that are easy to read and rich in detail. In fact, more information—especially when it’s relevant and reliable—helps match clients with better-fitting products.
Including environmental, social, and governance (ESG) data can further enhance submissions. This type of data improves risk assessments, promotes innovation in policy wording, and reduces insurer exposure—especially for complex clients or those operating in multiple sectors.
Minimising errors boosts efficiency
Reducing errors and omissions is a quick win that benefits both brokers and underwriters. Re-keying information and correcting basic data mistakes waste valuable time. Instead, submissions should be powered by validated data from trusted sources such as Companies House, HMRC, and mainstream credit reference agencies.
Pre-populated submission tools that draw from these sources improve data integrity, reduce friction, and ensure that underwriters receive complete, accurate, and up-to-date client information.
The tech edge: ROI of digital tools
Technology plays a crucial role in improving underwriting efficiency and accuracy. Real-time visibility of client risks, combined with data-driven workflows and predictive analytics, enables faster triaging and more agile decision-making.
Digital tools not only cut down on operational friction but also support personalisation, enhance customer lifecycle management, and ensure both brokers and underwriters remain alert to changes in exposure. Ultimately, the smart use of technology and data enables the market to respond faster to emerging risks—delivering better outcomes for clients, brokers, and insurers alike.
Read the full blog from FullCircl here.
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