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