The Problem

• Commercial insurance carriers receive applications (ACORD forms), loss runs, and schedules of value in emails. A significant amount of effort is spent entering the data into their quote systems.
• Underwriters also spend a significant amount of time and effort validating the data presented in submissions with 3rd party data sources.
• Time and effort spent becomes a wasted effort due to lack of prioritization in underwriting.

Solution

• AI/ML Platform that is trained to understand ACORD forms and Loss Runs to extract all the information presented in submissions in a structured format.
• Validate submission data with 3rd party data sources and prioritize the submissions according to their risk profiles and underwriting appetite.