Product Overview
The AI powered tool contextually reads unstructured and structured documents across all lines of business much like humans do in 87% less time.
Magic Submission understands the relationships and hierarchies of data across different documents and maintains these in the output JSON API.
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1.
Classify
1
Automatic document classification based on text and images features
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2.
Extract
2
Extract contextually relevant information from unstructured and semi structured data leveraging purpose-built AI models
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3.
Normalize
3
Submission data is normalized to target carrier data models
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4.
Validate
4
Input data is validated leveraging business rules or external sources
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5.
Enrich
5
Append with additional exposure data for company or location, triangulated from external data sources
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6.
Integrate
6
Integrate structured output to target system
Product Highlights
The Magic Formula
Extract
The purpose-built Al models read emails, unbundle complex combinations of ACORD forms, Broker Excels, custom forms, and other documents to convert extracted information into actionable data for underwriters.
Enrich
Validate and enrich risk information such as Address, COPE, NAICS, ISO, Financial, Hazard, class codes, and more with 8000+ data sources.
Experience
AI humanized for a simple ‘human in the loop’ experience. Business-driven workflow analyzes the data in near real-time to make decisions on exceptions, errors, and approvals.
Accelerate your underwriting operations!
All types – Excel, ACORD, Custom, PDF, Email
Without Magic Submission
With Magic Submission
Extraction times that last days/weeks
Extraction times that are minutes/hours
Limited risk data footprint
8000+ triangulated data sources for risk insights
Inconsistent extraction
>97% extraction accuracy
Inconsistent risk classification (ISO, NAICS, SIC)
Consistent risk classification models (ISO/NAICS)
Cannot quickly scale for spikes
Resilient platform with auto scaling
Accolades
Driving customer value & market leadership.
Intellect SEEC powered St. James’s place wins Celent’s “Model Wealth Manager Award”
In Emerging Technology category for “New Business Innovative” initiative – 2020
Intellect Risk Analyst implementation at Liberty Mutual featured as a case study in the Data and Analytics category by Novarica in their
9th Annual case study compendium report , “Insurance Technology Case Study Compendium 2020”
Intellect SEEC recognized as a “Full AI Suite Provider” who can help carriers streamline their underwriting workflows
