Risk Insights into Submissions
The Problem
  • Commercial Insurance carriers receive applications (ACORD forms) and Loss Runs, Schedules in emails. Significant amount of effort is spent to enter the date into their quote systems.
  • Underwriters also spend significant amount of effort to validate the data presented in submissions with 3rd party data sources.
  • Wasted effort due to lack of prioritization based on the Underwriting appetite.


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