Policy Servicing process workflow

Our advanced AI platform and intelligent workflows automate high volume, mundane processes like policy checking. By digitally transforming routine brokering activities, insurance brokers can double their business and deliver a better customer experience without adding staff. AI Platform now can directly generate the database for excel, ERP, CRMs by extracting the relevant information from policy documents for all kinds of Insurance companies

Challenges in the Policy Servicing processing.

Compromised accuracy even after multiple checks

Slow processing workflows

Loads of manual workforce blocked on a repetitive tasks

Impact of our solution

Expedite policy processing

Minimise cost

Level up business efficiency

Scale anytime

Capabilities

Making your daily operations efficient

Plug in 3rd party data sources

Lot of extraction fields are dependent on external data sources which can be plugged in easily to achieve the maximum automation while processing policies

Configure custom rules

Every broker requires different fields from the policies based on their business model and puts further intelligence, it is being taken care by curating custom solution for each organization

No verification required

100% automation using our in house managed workforce which helps you to skip the verification step in the real time and makes the operations efficient and scalable for your organization

Actionable output format

Extraction output is ready to be imported into your ERPs, CRMs, etc matching your custom format and enabling you perform further analysis and track the key metrics with higher accuracy

Quotation Comparison process workflow

AI solution for commercial insurance reads unstructured insurance data hundreds of times faster than a human. Our solution automatically recognizes over 500 insurance-specific data points including limits, premiums, deductibles, coverages, exclusions, and more. To work closely with commercial insurance brokers we've developed an AI Platform responsible for automatically extracting the data from different commercial lines carrier quotes, comparing quickly and easily find the best coverage, terms and conditions, and premium, improving the client experience.

Challenges in the Quotation Comparison processing.

High waiting period for customers

Complex understanding for comparison

Inefficiency in suggesting best quotes to customers

Impact of our solution

Reduce turnaround time

Low operational cost

Suggesting best quotes

Improved broker agent relationship

Capabilities

Making your daily operations efficient

Increase access to policy, loss data

Extracted data can enrich your book of business and can be used to maximise on the placement opportunity with carriers

Generate comprehensive comparison

Once the data points are extracted, multiple quotes are compared side by side on the same scream to suggest the best fit quote and improve customer experience

Auto bind quotes

After the extraction and comparison, quotes are bind validating client coverage, terms and conditions efficiently

Automate submission preparation

Automating the data extraction and preparing the submissions based on the acquired client needs and priority consumables by carrier partners


Automate your workflows with Pibit.ai