Specialty underwriting is a people-based business thriving when underwriters and brokers have a quality working relationship; Canopius facilitates and supports this in a traditional way. This human-centric approach means that an underwriter can only do so much and quality opportunity might be overlooked by both parties. The traditional method of specialty insurance underwriting is a manual process that takes valuable time and a large amount of back and forth between underwriters and brokers.
Canopius Digital Products was established to support traditional underwriting by adding scale and consistency to the existing business model. By automating and enhancing subjective underwriting decisions, Canopius’ digital products can increase the speed of risk assessment and offer a dependable and reliable product, at scale. Canopius’ portal offers an easily accessible, global shop window into a host of Canopius digital products anywhere, at any time.
Canopius uses expert, third-party data to enhance underwriting decisions, which will be completed in as little as two minutes. The aim of Canopius’ digital products is to assess and monitor risk in real-time, constantly updating clients to ensure risk is managed effectively. Canopius will partner with data experts from a wide range of industries to build a rich database of useful information to better inform underwriting decisions.
Canopius’ digital products will create an enhanced and stable offering to insurance brokers and their clients whilst giving Canopius underwriters time and space to focus on complex underwriting decisions that require experienced professionals and long-held relationships. Canopius’ digital products will open new lines of business for Canopius and will support its aim to be a truly international specialty (re)insurance company.