Strategic Investment in AI and Data Science for Underwriting and Growth
The Hartford is leveraging AI-driven underwriting tools, real-time decisioning, and proprietary pricing models, especially in Small Business, leading to 75% of quotes being bound within minutes.
The company aims to extend AI innovations to Middle & Large Business and Global Specialty segments, with a focus on automating underwriting processes to enhance productivity and market speed.
Management emphasizes that AI and data science are core to maintaining competitive advantages and driving scalable, profitable growth.
Strategic Focus on Operational Excellence and Technology Adoption
Management emphasized the importance of operational excellence supported by in-house technology, including AI, to improve resident experience and leasing efficiency.
AI implementation has enhanced leasing processes, providing 24/7 resident inquiries and freeing up staff for more personalized service.
Future plans include expanding AI applications into resident communication and maintenance, indicating a strategic move towards tech-driven operational improvements.
AI-Driven Mortgage Underwriting and Efficiency Gains
UWM has invested heavily in AI technology, notably the BOLT underwriting system, which enables loan officers to process 2-3x more loans per day than competitors.
Management emphasized that AI is actively improving loan quality and operational efficiency, with tangible impacts seen today.
Introduction of ChatUWM, an AI chatbot similar to ChatGPT, used by brokers for quick access to guidelines and resources, enhancing productivity.
Mia, an AI loan officer assistant, is operational and helping brokers increase loan volume by making outbound calls, setting appointments, and staying in front of borrowers.
Mia's deployment has led to a significant increase in repeat business, with 97% of consumers giving a 5-star review, and the company aims to increase broker recall from 10% to potentially 50%.
Management highlighted that AI tools are not future plans but are actively impacting business performance in 2025.
Dafinchi