How can you balance technology and critical thinking in underwriting?

1 Use technology wisely

Technology can enhance your underwriting capabilities, but it can also pose challenges and limitations. For example, technology can help you access and analyze large amounts of data, but it can also introduce biases, errors, and gaps. Technology can help you automate routine tasks, but it can also reduce your engagement and learning. Technology can help you communicate and collaborate with stakeholders, but it can also create distractions and conflicts. To use technology wisely, you need to understand its strengths and weaknesses, and apply it appropriately to your underwriting goals and context.

2 Apply critical thinking skills

Critical thinking is the ability to think logically, rationally, and creatively to solve problems, make decisions, and evaluate arguments. Critical thinking skills are essential for underwriting, as they help you to question assumptions, challenge evidence, identify alternatives, and justify conclusions. To apply critical thinking skills, you need to adopt a curious, open-minded, and skeptical attitude, and use various techniques and tools, such as asking questions, using frameworks, testing hypotheses, and seeking feedback.

3 Adopt a problem-solving framework

A problem-solving framework is a structured approach to defining, analyzing, and solving a problem. A problem-solving framework can help you to organize your thoughts, clarify your objectives, and generate solutions. There are many problem-solving frameworks that you can use for underwriting, such as the 5 Whys, the Fishbone Diagram, the SWOT Analysis, the SCAMPER Method, and the Six Thinking Hats. Each framework has its own advantages and disadvantages, and you can choose the one that suits your problem type, style, and preference.

4 Embrace creativity and innovation

Creativity and innovation are the abilities to generate and implement new and valuable ideas. Creativity and innovation are important for underwriting, as they help you to discover opportunities, overcome challenges, and create value for your customers and stakeholders. To embrace creativity and innovation, you need to foster a growth mindset, experiment with different perspectives, and learn from failures. You can also use various techniques and tools, such as brainstorming, mind mapping, prototyping, and design thinking.

5 Collaborate with others

Collaboration is the act of working with others to achieve a common goal. Collaboration is beneficial for underwriting, as it helps you to leverage diverse skills, knowledge, and experiences, and to improve your performance, quality, and satisfaction. To collaborate effectively, you need to establish trust, respect, and communication with your team members, partners, and customers. You can also use various techniques and tools, such as sharing best practices, using feedback loops, and using collaborative platforms.

6 Keep learning and improving

Learning and improving are the processes of acquiring new knowledge and skills, and applying them to enhance your results and outcomes. Learning and improving are essential for underwriting, as they help you to adapt to changing markets, customer needs, and regulatory requirements, and to maintain your competitive edge. To keep learning and improving, you need to set SMART goals, measure your progress, and reflect on your actions and feedback. You can also use various techniques and tools, such as reading, attending courses, joining communities, and using mentors and coaches.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?