What Underwriters Really Think About Pricing Transformation

Pricing transformation is high on the agenda for many insurers, but is it actually making life easier for underwriters?

Our latest report, produced with Insurance Post, explores pricing modernisation from the underwriter's perspective. It looks at what is working, where insurers are still struggling, and what underwriters really need from the next generation of pricing tools. It also looks at how underwriters are working with AI, and they told us what AI features they really want.

Drawing on exclusive survey findings and insights from leading insurers including Aviva, Hiscox and Zurich, the report highlights the challenges underwriters face every day and why successful transformation is about more than simply introducing new technology.

Inside the report you'll discover:

• Why many underwriters feel pricing transformation isn't delivering the benefits they expected.

• Why Excel remains the tool of choice for most underwriters and how insurers are using modern pricing platforms to enhance it and address deficiencies to enable scalability and governance.

• How differences between underwriting, actuarial and technology teams are slowing progress.

• Why trust, transparency and ease of use matter just as much as technical sophistication.

• How AI can support underwriters by automating routine tasks while keeping expert judgement at the heart of decision-making.

• The organisational and cultural barriers holding pricing transformation back.

Some of the key findings include:

• Only 34% of underwriters believe their organisation has made significant progress in pricing transformation, compared with 70% of actuaries.

• 87% of underwriters still rely on Excel because it remains fast, transparent and easy to interpret.

• Just 12% believe Python-based pricing models align with their skills, highlighting the need for technology that is both powerful and practical.

If you're involved in underwriting or pricing, this report offers valuable insight into how insurers can modernise without losing the transparency and flexibility that underwriters depend on.

Download the full report and discover how insurers can bridge the gap between technical innovation and underwriting reality, enabling faster decisions, stronger collaboration and better underwriting outcomes.