Most underwriting teams are still bogged down using inboxes, PDFs, spreadsheets, and outdated systems that rarely communicate with one another. This slows down workflows, increases the risk of data errors, and frustrates agents and brokers who cannot get clear answers on quotes.
It’s not only an operational challenge but also a competitive disadvantage. Carriers and MGAs winning business today are those adopting modern insurance underwriting software designed to enable Straight-Through Processing, accelerate quote turnaround, and free underwriters to focus on complex risk analysis rather than paperwork.
IntellectAI has put together a guide for insurers and MGAs evaluating commercial underwriting software in 2026. This framework helps teams select a platform that delivers tangible ROI while aligning with existing workflows.
Defining your underwriting “North Star”
Before implementing any solution, carriers should define their underwriting “North Star” by following three essential steps. First, identify bottlenecks by assessing which processes slow down submissions, whether chaotic intake, lengthy data validation, or difficulty accessing insights across multiple systems.
Second, establish clear, measurable objectives such as increasing Straight-Through Processing by 40%, reducing quote turnaround to 24 hours, or boosting underwriter productivity by 30%. These goals form the foundation for software selection. Thirdly, you must involve all stakeholders early, including underwriting teams, IT, and operations, to ensure adoption and alignment across the business.
The next step is evaluating the seven must-have features of modern underwriting software. Intelligent workflow automation paired with a low-code rules engine allows underwriters, not just IT teams, to update rules as products, appetites, or loss trends change.
AI analytics for risk assessment triages submissions, scoring risk in real time and reducing manual touchpoints while providing better information earlier.
Robust integration with an API-first architecture ensures the platform can connect seamlessly with policy administration, CRM, rating systems, and third-party data partners, preventing new data silos from forming.
Automated submission intake and data ingestion streamline operations by extracting structured data from ACORD forms, PDFs, emails, and scanned documents, flagging missing or inconsistent information.
A unified underwriting workbench consolidates quote details, documents, risk scores, communication tools, and task lists in a single interface, minimising friction for underwriters.
Evaluating and selecting the right platform
Comprehensive analytics and portfolio reporting deliver real-time insights into submission volume, quote-to-bind ratios, and loss trends, supporting faster, more informed decision-making. Security, compliance, and audit trails complete the package, with role-based permissions, regulatory compliance controls, and certifications like SOC2 or ISO protecting sensitive data.
Selecting the right underwriting software involves a five-step framework. Start by creating a shortlist and sending RFIs to vendors that support your lines of business.
Evaluate whether to build, buy, or tailor the platform, recognising that tailored solutions often balance flexibility and enterprise stability. Schedule live demos using real use cases, score vendors based on features, and validate technical and cultural fit by speaking to existing customers about implementation, support, and customisation.
Finally, calculate total cost of ownership versus expected ROI, factoring in integration, training, and maintenance costs against benefits such as faster quotes, higher STP, fewer errors, and better client experiences.
The aim of insurance underwriting software is not to eliminate underwriters but to empower them. Providing teams with a digital underwriting workbench that aligns with real workflows ensures speed, consistency, and better decision-making.
Carriers and MGAs can handle more business efficiently, improve quote accuracy, and deliver superior experiences.
IntellectAI’s Xponent offers an AI-driven underwriting platform purpose-built for commercial and specialty lines, helping carriers and MGAs modernise workflows and make smarter, faster underwriting decisions.
Read the full blog from IntellectAI here.
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