Our solution automates data extraction, integrates third-party sources, and accelerates risk analysis, enabling underwriters to make timely, accurate decisions. Say goodbye to manual processes and hello to efficient, informed underwriting.
In the face of regulated premiums and escalating losses, US commercial insurers seek to boost margins by optimizing costs. Manual extraction of submission data is a bottleneck, requiring labor-intensive efforts and resulting in poor data quality and inefficiencies. Automation emerges as a critical solution to mitigate these challenges and enhance underwriting efficiency.
Pibit.AI Data Extraction Process
Automate Submission Ingestion Workflow
Our AI model does the classification, cleaning and extracts the data from loss runs, accords, schedules and other submission documents
Automated quality checks runs on the data along with expert review, makes sure data is accurate
Extracting information from relevant third party sources as per the line of Business, provides 360 degree view of the Customer.
Generating visual reports that summarizes the key trends in loss run documents
Reduced Loss Ratio
Challenges processing commercial submissions
Impact of our Solutions
Capabilities you gain
Gain access to relevant, extracted, and enhanced data from submissions through a diverse pool of third-party data sources. Analyse open claims, exposure risks, and more to make informed decisions
Increase Submission throughout processing
Getting data extracted within minutes from submission documents, increases the overall number of documents handled
Integrated loop between model and the final output, automatically trains the model on regular basis and constantly learn and improve it’s accuracy
Unleash the power of your business rules and prioritize submissions based on denial trends, acceptance rates, premiums, and more across different lines of business and agents.
Digitize and establish data linking for structured and unstructured documents such as loss runs and ACORDs, ensuring organized and centralized processing of submissions. Our solution enables seamless integration and efficient handling of various document types.
Fortify your Data: Unwavering Security
We prioritize safeguarding your data. With SOC 2 Type II and ISO 27001 certifications, rest assured your information is in capable hands. All data is stored on highly secure US-based cloud servers.
Our track record has earned the trust of top carriers.
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