N2G, an underwriting platform that streamlines the international commercial insurance experience and offers multi-national quotes across lines of business, was recently awarded the 2023 Celent Model Insurer Award for Digital and Emerging Technologies. The system was founded in 2020 when Nationwide and Generali Global Corporate and Commercial partnered to create a single source of global insurance for corporate and commercial clients.
“Many teams have been hard at work for nearly two years to bring this whole system to life…” says Christian Zwingel, N2G COO. “It’s a nice recognition that we’re on the right track, and it’s not something that is then taken for granted, and it’s a good motivation for what’s to come.”
Nationwide and Generali have recognized the often lengthy and siled process of multinational quoting—the underwriting and quoting systems in multinational business lines are traditionally split and dispersed across different departments within the organization, requiring multinational clients to navigate through many different departments or companies to verify coverage of their services in USA. or international business transactions. Together, Nationwide and Generali created N2G to solve this problem and create a more streamlined experience for international customers.
The N2G teams inherited two large carrier systems and were tasked with merging the two systems.
“…We realized that there is no single system that would satisfy all our needs, including pipeline management, document management, rating, policy issuance, and even data collection in the back end for portfolio management…” says Zwingel. “We realized that we would have to create our own ecosystem of systems. So we basically chose the best of the various systems they had to offer and worked really hard from the start to integrate them into a tight process.”
Within 20 months, N2G teams created a functional system that meets the needs of multinational companies and provides a single source for underwriting and policy issuance processes across all business lines. The system continues to provide customers with an easier buying process – according to N2G, 70% of its users say the platform is easy to use.
Moving forward, N2G has three main goals.
First, the team plans to add a global property rate to the issuance capability. Zwingel says: “Today, our system actually satisfies the needs for our liability products only from a domestic and international point of view. So we are currently working to also engage our real estate business, both domestically and internationally…”
His second goal is to enhance the system with an underwriting toolkit, as Zwingel describes as a place “where you can then enter account information and risk information summarized in one view. [and] providing the underwriter with an overview of the actual risk and account. … We just want to bring it all together on one screen and make risk analysis easier for our underwriters.”
The third goal of N2G is to create a robust desktop for underwriters that works across all lines of business, with a focus on automation and simplification, where underwriters can find insured information from a single source.