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6 Tips for a Stress-Free Insurance Underwriting Process

5min read

Employment history, bank statements, W-2s, proof of assets… It’s no wonder aspiring homeowners loathe the underwriting process. 

As an insurance agent, you likely dread it too. After all, this is the make-or-break step where either you keep a client or lose one, depending on the result of the approval.

With underwriting being a crucial (and unavoidable) part of the home-buying journey, is there even a way to make this process less stressful?

The good news is there are! Six ways, to be exact.  And we’re dishing all of them out in this guide so the underwriting scares can become a thing of the past. 

What Is Underwriting?

In real estate, when a person goes to buy a home, they first have to go through a loan application process known as underwriting.

The underwriting process is where the aspiring applicant’s finances are reviewed to determine if they qualify for the home they’re looking to purchase, or if it’s a major financial risk.

During this time, an underwriter will collect specific documents from the borrower(s) to analyze credit history, debt-to-income ratio, monthly income, and any assets. 

After careful review of the borrower’s finances and the new home cost, the underwriter (who’s also a financial expert) either approves or denies the applicant. 

Why Is This Process So Challenging?

There are several reasons the underwriting process is challenging for clients. Foremost, there’s a lot at stake during this part of the home-buying process, as denial is a real possibility.

In 2022, data presented by the Home Mortgage Disclosure Act stated that 9.1% of applicants were denied after submitting their application, so emotions among applicants are already high. 

Add in the fact that applicants are asked to submit a plethora of documents (that might take them forever to locate), fill out lengthy forms, and wait at least a day before hearing the status of their application, and it’s enough to feel frustrated.

Not to mention the fact that when insurance or mortgage companies don’t want to adapt to new technology that provides a seamless flow from documentation requests to transparency within the process, it frustrates borrowers even more. 

6 Steps for Making Underwriting Easier for Clients

Even though underwriting is an inevitable part of the process for the majority of borrowers, there are ways around the frustration to provide a better experience for your clients. 

Here’s how to do it.

1. Build a relationship with your clients

One of the biggest reasons clients feel frustrated during the underwriting process is from a lack of understanding. That’s where you, the insurance agent, can significantly improve the customer journey simply by asking questions and listening.

Get to know your clients at the beginning of the process before they get to underwriting. Ask what their needs are, how they prefer to communicate or fill out necessary documents. 

Do they prefer using their phone or desktop for communication? Do they mind phone calls or prefer texts? These are big questions to ask so the client feels comfortable and in control when creating their new account with your company.

2. Educate them early on

Before the underwriting process begins, it’s extremely vital to educate your clients on what to expect and what this process entails so they’re aware of what’s going on and what’s at stake. 

Underwriting is a big deal; they’ll either move forward with their dream home or have to scramble for ways to make it happen. Educating your clients before the process also gives them enough time to search for documents they may need. 

3. Simplify the process

If there’s one takeaway you choose to incorporate in your insurance company, let it be this one: Streamline the process!

You can do this by one of two ways: Use existing data you have on the applicant along with new document requests, or by integrated systems and softwares. 

Using the latest and greatest technology not only helps the applicant apply easier and faster, but it also helps you and the underwriter by taking tasks off your hands thanks to automated systems. 

Automated tasks paired with technology softwares should also reduce the waiting period time, which is another excellent way to improve customer satisfaction in the underwriting process. 

4. Make information easily accessible (and easily understood)

Of course, with the applicant’s financials being reviewed and the deciding factor, information should be easily accessible at all times for them. 

Applicants can access their loan file in modern loan application systems and see not only the step they are currently in, but also in-depth information about their policy, expected payments, and much more.

Having this information at their fingertips is a game changer since applicants can view this information whenever they want instead of going through you or representatives when they have a quick question. 

5. Communicate, communicate, communicate

If a client has questions, answer them happily. If a client hasn’t filled out a form in a day or two, remind them gently. If you haven’t heard from a client, check in nicely. 

Whatever you do, don’t be afraid to over-communicate with your clients during the underwriting process. Most applicants will not completely understand what this process entails or what the next steps are. 

Always being available and happy to speak with your clients shows them you care and makes them feel heard, which goes a long way in the customer journey. 

6. Offer support and personalization

At the end of the day, the person this loan product is going to affect the most is the applicant. That’s why supporting them by personalizing the product to best fit their needs should be a top priority.

Review various loan products with the applicant so they can choose the best fit for their financial goals but ‌offer suggestions based on your expert preference. 

Speaking of great technology – Meet Cole! 

It can be hard to find clients for your real estate business, but even harder to find clients you know should have no problem getting approved for a loan. 

Lucky for you, Cole Information takes guessing out of the game with our incredibly handy Mortgage Connect software!

This system allows insurance agents to search and find homeowners in a specific area who are ready to upgrade or downsize regardless of the current market.  

What’s more, we also make it easy to establish a referral network between you, your loan officer, realtor and more so leads are never an issue again. 

Accelerate your loan company today with the help of Cole by scheduling your live demo to be well on your way to a better underwriting process and customer satisfaction journey!


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Call us to learn more about team pricing.


It only takes a few minutes to see how we can help you maximize your prospecting strategy!

A man smiling at his computer

Call us to learn more about team pricing.


It only takes a few minutes to see how we can help you maximize your prospecting strategy!