SUBMISSION INSIGHTS

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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.