In an extremely competitive Insurance market, insurance carriers have an imperative advantage by embracing new technology platforms that leverage Big Data and Artificial Intelligence. The industry has historically operated on incomplete information, and inefficient home-office processes to analyse and accept submitted risks on their books. This ensures adverse operational impact, such as spending 70% of resource time on low value tasks, high friction in the distribution channel, high dependence on manual processes, and premium leakage and higher loss incidence. However, technology today can reduce the gap between the quality and quantity of information, as well as the intelligence to process the information.
Intellect Xponent is an intelligent workbench that utilizes big data, risk analysis frameworks and a customized workflow to provide a truly next-gen experience in commercial underwriting.
An AI and data powered, account centric underwriter workbench that provides a ‘single pane of glass’ driving underwriter productivity and enabling the average underwriter to perform like the most experienced. The solution is built to ensure speed and accuracy of underwriting decisions for portfolio profitability. It seamlessly integrates with Magic Submission and Risk Analyst to provide a comprehensive end-to-end workbench across commercial lines. Built by underwriters, this highly configurable workbench captures the ‘underwriter thought process’, performs effective case management, provides a comprehensive 360 account dashboard from external and internal data curated, and enables real time collaboration across respective parties involved.Request Demo