Introduction
Underwriting involves assessing and quantifying financial risk for entities or individuals, commonly for loans, insurance, or investments. Underwriters, employed by financial institutions, conduct this evaluation to protect investors, applicants, banks, and the financial market in financial agreements. While traditionally done by experts, the need for efficiency, accuracy, and scalability has made underwriting automation vital for financial institutions.
This blog will explore types of underwriting and the benefits of automating this process for financial institutions.
