INDUSTRY: P&C INSURANCE |MARKET: MIDDLE MARKET & SPECIALITY| REGION: NORTH AMERICA
Intelligent Extraction of Historical Claims Data from Carriers
40%
Reduction in Handling Time
92%
Increase in Productivity
90%
AI Extraction Accuracy
Solution Overview
Loss Run Processing Automation
Loss Run Intelligent extraction elevates efficiency leveraging AI powered technologies to automate data capture from Loss Run documents received in diverse formats. It also seamlessly classifies, segments, contextualizes and extracts relevant fields, provides triaging capabilities and streamline downstream processing for carriers.
Loss Run intelligent extraction monitors the mailbox for new submissions, extracts around 50 data fields from over 100+ carriers with high field level accuracy, displays the fields for triaging with an ability to keep track of all the updates performed by PSRs. The solution also provides real time insights/recommendation to Policy Service Representatives and underwriters on the risk associated with an Insured.
INDUSTRY: P&C INSURANCE |MARKET: MIDDLE MARKET & SPECIALITY| REGION: NORTH AMERICA
AI for First Notice of Loss Intake Automation
90%
AI Extraction Accuracy
Solution Overview
FNOL Intake Automation
FNOL Intake Automation harnesses AI-powered technologies to seamlessly extract, classify, and contextualize critical parameters from Loss documents sent by claimants and brokers in various formats and display fields for effortless triage and enhanced downstream processing.
InsurAI FNOL Intake Automation monitors the mailbox for new submissions, extracts required data fields from over with high field level accuracy, displays the fields for triaging with an ability to keep track of all the updates performed by claim service representatives to automate claim creation process. In addition to intelligent extraction InsurAI also uses cognitive AI to derive suffix details, LOB classification and severity categorization for automated user assignment.
INDUSTRY: P&C INSURANCE |MARKET: PERSONAL| REGION: UNITED KINGDOM
AI for Roof Damage Detection and Estimation
50%
Cost Reduction in Claim Related Expenses
Solution Overview
Intelligent Damage Assessment
Intelligent Damage Assessment seamlessly analyzes roof damages from images and quotations, utilizing cutting-edge AI technologies for swift and accurate claim payout recommendations thus empowering claim adjusters and carriers.
InsurAI Intelligent Damage Assessment monitors the images of damage and repair estimation documents shared to carriers or claims management TPA. Identifies the roof type, detect area of damage by differentiating from wear and tear, performs damage assessment and provides a recommendation to claim adjusters to settle the claims in an accelerated manner. In addition to this, the solution has capabilities to detect fraudulent claims through 3rd party integrations for effective decisioning.
INDUSTRY: P&C INSURANCE |MARKET: MIDDLE & CONSTRUCTION| REGION: NORTH AMERICA
Intelligent Extraction of Business Auto Vehicles Fleet Data
2x
Improvement in Policies Rated
30%
Reduction in Average Handling Time
30%
Straight Through Processing
Solution Overview
Rating Automation
Rating Automation utilizes Intelligent Extraction to capture commercial vehicles fleet data from documents in various Format and boosts underwriter’s efficiency and accuracy to generate quotes.
InsurAI Rating Automation monitors the mailbox for new submissions, extracts the required vehicle fields with high field level accuracy, displays the fields for triaging with an ability to keep track of all the updates performed by Policy Service Representatives(PSR) and underwriters. The solution also provides real time insights/recommendation to PSRs and underwriters for better decision-making capabilities.
INDUSTRY: P&C INSURANCE |MARKET: MIDDLE & CONSTRUCTION| REGION: NORTH AMERICA
Intelligent Automation to Prioritize and Classify Endorsements
4000
Automated Indexing & Queue Assignment
90%
Increase in Productivity
50%
Reduction in Average Handling Time
Solution Overview
Endorsement Automation
Endorsement Automation employs AI technologies to efficiently index, prioritize, and identify incoming endorsement requests, such as address changes, vehicle additions or deletions, named insured modifications, and more. Additionally, it automates the policy reissuance process.
InsurAI Endorsement Automation monitors the mailbox for new endorsement requests, index the requests, automate user assignment, identify the endorsement type, extract required data fields to effect the endorsement and reissue the policies. It provides a real time UI for Policy Service Representatives to identify non underwriting referral and underwriting referral requests with high degree of efficiency for.