I am working on developing a model for automation of insurance underwriting. I would like to identify the schools of thought on the best method of achieving this. Any pointers to research in this space would also be appreciated.
First of all, you have to be more specific about what part of the underwriting process you'd like to focus on:
1. contact to clients
2. collecting the information required
3. the risk assessment
4. the pricing
5. the contracting
So you have to break down the process and to address the various challenges that come along with each step. In practice, this will crucially depend on the type of product that is about to be sold, e.g., private liability insurance may be less complex than health insurance.