High processing time
Deprived productivity
Critical information processing
High expense ratio
High Quotes not taken
Compromised risk selection
Loss avoidance
Underwriting efficiency
Price Adequacy
Speed to quote
Premium Growth
Customer relationship
Digitise data from structured & unstructured documents like loss runs, SOVs, schedules, applications, etc in organised manner for central processing of submissions with easy integrations
Offering quick quote generation ability improves the broker/agent relationship experience and enabling underwriter doing his core job enhancing experience
Generate consummate data with the human in the loop to maintain the adequate data quality and auto populate it in policy management softwares quickly for complete submissions avoiding any additional verification effort
Retain all the information captured from all submissions types for assuring better future actuarial models and decisioning, risk bucketing, historical audits, etc
Unified view of extracted and enhanced data from submissions by accessing pool of 3rd party data through local, state and federal government, social media, etc
Develop your business rules and based on the trends of denials, acceptances, premium, etc submissions can be prioritised through various LOBs, agents/brokers