Insurance brokers have relied on manual work for as long as the industry has existed. First, it was the paper, and later scanned files and PDFs, but the manual entry work remained the same. After long hesitation, we can finally say that insurance brokers are turning to AI and relying on technology to handle some […]
If you’re leading underwriting, operations, or transformation inside an insurance firm right now, you’re probably feeling it. The board wants AI. Your competitors are making announcements. Vendors are flooding your inbox with “game-changing” solutions. But behind the noise, one question keeps surfacing: What exactly should we do with AI, and how do we do it […]
Risk clearance is one of the most critical steps in commercial underwriting, yet it remains one of the slowest processes. As submission volumes grow and timelines shrink, underwriters and operations teams are under constant pressure to clear accounts faster while maintaining accuracy and compliance. Manual risk clearance workflows, which typically involve email chains, scattered documents, […]
Statement of Values, or SOV, is a crucial document in property underwriting, particularly for large properties. The accuracy and completeness of this document directly influence pricing, risk selection, and even downstream claims performance. Although SOVs should contain clean and detailed information about locations, contents, equipment, replacement cost, actual cash value, occupancy, and more, they can […]
Everybody who has done a single manual policy check knows how slow the process is. Hurrying up increases the likelihood of making a mistake, which can result in significant financial losses. You would agree that it’s unacceptable to make a mistake while performing a task whose whole point is to correct mistakes and pay attention […]
Ever since insurance became an industry, claims accuracy has never been something to take chances with. Along with risk management, claims accuracy plays a crucial role in the insurance underwriting process, where there’s no room for errors. Errors in claim processing significantly impact customer satisfaction and trust. A single error can cause drastic changes, yet […]
Loss runs are the underwriter’s version of a minefield. Essential? Yes. Easy? Never. Every submission with a multi-year claims history comes buried in PDFs – different formats, inconsistent labels, pages of scanned tables. Underwriters spend hours just trying to understand what they’re looking at. One report says “Total Paid.” Another says “Total Incurred.” A third […]
What’s a secret formula for business success? Speed + Accuracy = Success Although the formula applies to many industries, it is particularly crucial for the insurance industry. In insurance underwriting, typos and errors are unacceptable, as they can lead to significant liability in the event of a claim. The number of submissions varies daily and […]
When policy issuance breaks down, it doesn’t just slow your business. It bleeds it. Delays frustrate brokers, strain underwriters, and shake client confidence. Errors lead to rework, compliance headaches, and even E&O exposure. And when things pile up? Deals get stuck. People get blamed. Growth stalls. The irony? These issues usually have nothing to do […]
In a business built on documentation, insurance companies have long struggled with paperwork before the implementation of insurance document automation. From applications, over quotes, binders, policies, claims, and renewals… the list is endless. Manual processing of these documents isn’t only slow, but it has also become a liability for the industry, which has always relied […]
