Despite reports of success, few commercial P/C companies are implementing online underwriting.In 1997, when Atlantic Mutual Cos. co-developed what is believed to be the first online application to quote and bind commercial lines insurance policies over the Internet, industry players quickly aligned into two camps.
The first camp welcomed the skeptics-brokers, underwriters and high-ranking insurance executives-who say the commercial property/casualty business is too complex to lend itself to direct sales and online underwriting, quoting and payment.
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