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2 strategies and tactics for Underwriting

What is Underwriting strategy?

Every great achievement starts with a well-thought-out plan. It can be the launch of a new product, expanding into new markets, or just trying to increase efficiency. You'll need a delicate combination of strategies and tactics to ensure that the journey is smooth and effective.

Identifying the optimal Underwriting strategy can be challenging, especially when everyday tasks consume your time. To help you, we've assembled a list of examples to ignite your creativity.

Copy these examples into your preferred app, or you can also use Tability to keep yourself accountable.

How to write your own Underwriting strategy with AI

While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI generator below or our more complete goal-setting system to generate your own strategies.

Underwriting strategy examples

You'll find below a list of Underwriting tactics. We also included action items for each template to make it more practical and useful.

Strategies and tactics for executing Operational Excellence for Device Financing

  • ⛳️ Strategy 1: Align operations with business objectives

    • Translate Paywise’s regional strategy into actionable operational plans tailored for Rwanda’s market
    • Lead execution of the Rwanda rollout plan with emphasis on aligning processes with growth targets
    • Support pricing and product teams in defining financing models that reflect local income and repayment behavior
    • Develop short- and medium-term operational roadmaps, including budgets and key milestones
    • Represent operations in leadership meetings, providing performance insights and recommendations
    • Ensure compliance of operational strategies with Rwandan legal and financial regulations
    • Regularly review and adjust operational plans to align with evolving market conditions and company goals
    • Engage stakeholders in strategic discussions to ensure alignment across departments
    • Establish performance metrics aligned with business objectives for continuous monitoring
    • Foster a culture of strategic thinking and adaptability across the operations team

  • ⛳️ Strategy 2: Optimise processes for efficiency

    • Develop and implement standard operating procedures (SOPs) for all key operational processes
    • Oversee system integrations to ensure smooth data flow and accurate reporting
    • Collaborate with risk teams to refine frameworks for credit scoring and fraud prevention
    • Monitor daily operations to ensure targets for activations, repayments, and collections are met
    • Implement process automation to enhance oversight and reduce information leakages
    • Track key operational KPIs to identify areas for improvement
    • Conduct regular audits to identify process bottlenecks and initiate improvement actions
    • Utilise feedback loops from field operations to enhance process effectiveness
    • Develop a system for continuous process review and adaptation
    • Invest in training and development programs to ensure staff are adept at new processes

  • ⛳️ Strategy 3: Enhance customer and merchant experience

    • Ensure clear communication and timely support for customers and merchants
    • Strengthen collection systems with data-driven reminders and incentives
    • Monitor default levels and manage recovery metrics effectively
    • Coordinate with customer care to resolve issues promptly and maintain high satisfaction
    • Work with tech teams to improve CRM tools for better customer monitoring
    • Regularly review repayment trends to identify opportunities for customer retention
    • Introduce strategies that encourage repeat purchases from satisfied customers
    • Establish a feedback mechanism to capture customer and merchant insights
    • Develop a comprehensive training program for staff on customer service excellence
    • Create a customer-centric culture within the team to prioritise client needs
operational-excellencedevice-financingoperations-managerproduct-managerpricing-and-product-teamcustomer-care-team
Implement these strategies

Strategies and tactics for underwriting multi-program LOS workflow

  • ⛳️ Strategy 1: Integrate LOS systems for TL and CF

    • Conduct an assessment of current LOS capabilities to identify integration points
    • Develop a unified workflow for TL and CF underwriting processes in LOS
    • Coordinate with IT to implement necessary system upgrades for integration
    • Establish a testing environment to simulate the integrated workflow
    • Train underwriters on the new integrated LOS system and processes
    • Implement feedback collection mechanisms from users to refine the process
    • Coordinate with external vendors if additional technology support is needed
    • Schedule regular review meetings to assess integration progress
    • Develop clear documentation outlining the new integrated LOS workflow
    • Ensure compliance checks are integrated within the unified process

  • ⛳️ Strategy 2: Optimise productisation for faster CAM approval

    • Map current productisation steps and identify bottlenecks
    • Streamline data collection processes for greater efficiency
    • Implement automation tools to reduce manual steps in productisation
    • Standardise documentation templates for consistency and speed
    • Facilitate communication between underwriting and product teams
    • Assess and enhance data analytics capabilities to support decision-making
    • Compile lessons learnt from previous productisation processes
    • Monitor key performance metrics to identify areas for improvement
    • Establish a role or team dedicated to overseeing productisation progress
    • Develop a continuous improvement plan with regular updates

  • ⛳️ Strategy 3: Enhance stakeholder collaboration and communication

    • Identify all stakeholders involved in the LOS and underwriting processes
    • Create a communication plan detailing stakeholder responsibilities and timelines
    • Establish regular coordination meetings between TL, CF, and LOS teams
    • Use project management tools to track progress and updates in real-time
    • Facilitate workshops to gather input on workflow improvements from all stakeholders
    • Implement a feedback loop for continuous stakeholder input
    • Develop shared goals and KPIs to ensure alignment among teams
    • Create a conflict resolution plan to handle any disagreements effectively
    • Organise a regular newsletter or update communication for stakeholders
    • Set up a shared digital platform for all involved to access documents and information
underwritingintegrationunderwriterproduct-managerit-teamproduct-team
Implement these strategies

How to track your Underwriting strategies and tactics

Having a plan is one thing, sticking to it is another.

Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to keep your strategy agile – otherwise this is nothing more than a reporting exercise.

A tool like Tability can also help you by combining AI and goal-setting to keep you on track.

More strategies recently published

We have more templates to help you draft your team goals and OKRs.

Planning resources

OKRs are a great way to translate strategies into measurable goals. Here are a list of resources to help you adopt the OKR framework:

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