2026-10-21 · Source: Insurance Business US
Summary in 3 Points • Crum & Forster's surety division focuses on transferring knowledge from experienced underwriters to trainees. • Technology has reduced surety decision times from weeks to hours, enhancing operational efficiency. • The surety industry faces a shortage of experienced professionals, impacting the quality of underwriting decisions. --- Crum & Forster's surety division is undergoing a transformation by prioritising the transfer of knowledge from seasoned underwriters to trainees. With technology reducing decision times from weeks to hours, the firm aims to maintain the quality of underwriting in a competitive market, despite a shortage of experienced professionals. This shift is crucial as the industry relies heavily on institutional memory and judgement, which cannot be replicated by AI. Senior Vice President Brock Masterson emphasises the importance of human capital in differentiating the firm within a crowded surety marketplace. As the industry evolves, the need for experienced underwriters remains critical, especially in navigating complex relationships and ensuring trust with clients. The trainees will eventually face a split market, where understanding both construction and surety knowledge will be essential for success in their roles. The surety industry is grappling with a shortage of experienced professionals, impacting underwriting quality and decision-making processes.
The surety industry is grappling with a shortage of experienced professionals, impacting underwriting quality and decision-making processes.