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 depends on the company’s size, but some insurers often have to process hundreds or even thousands of submissions daily.
With submissions being very time-sensitive, it’s easy to make mistakes while rushing to process them all on time.
This is where the submission clearance software comes in handy, but what does submission clearance actually mean?
TL;DR (Too Long; Didn’t Read)
In this article, you will learn how to:
- Understand the concept of submission clearance software to automate insurance workflows
- Organize submissions from multiple sources into one platform
- Benefit from implementing AI into your insurance workflow
- Free up underwriters from manual tasks
- Improve submission and quote turnaround time
- Improve conversions from submissions to quotes and binders
- Create a more scalable underwriting operation in your company
Schedule a call with our team here.
What Is Submission Clearance?
Submission Clearance is the process of reviewing and routing new submissions for clearance and approval. Submission clearance happens before the submission even reaches the underwriting department.
If you work in insurance, you know that submissions are often duplicated, incomplete, hard to read, or handwritten. Many insurance companies have switched to AI-powered tools for submission clearance, but many of them still have their teams spending hours on submission clearance every day.
The review itself includes multiple essential yet straightforward parts. Underwriters must first validate the submission to ensure that the agent submitted all required documents. The next step is to verify if the submission is a duplicate and whether it meets the company’s eligibility criteria for the offer.
Prioritizing and routing the submission are the final steps, and underwriters need to handle
How Is Manual Submission Intake Slowing You Down?
Missing information, handwritten ACORDs that you cannot read, PDFs sent by email, etc. Sound familiar? Carriers, MGAs, and brokers still invest time in dealing with these issues, leaving less time for focusing on more important tasks.
Handling submissions manually results in slower processing times, a higher error ratio, increased back-and-forth communication with agents, and missed opportunities.
If the underwriter doesn’t handle the submission in a timely manner, it creates bottlenecks in the workflow, increases time-to-quote, and frustrates both brokers and internal teams. To make things worse, clean submissions ready for quoting get lost in the pile of incomplete entries.
Submission clearance inefficiency can cost you your customers and opportunities. Is there an easy solution to this problem?
What Is a Submission Clearance Software?
By harnessing AI analytics, submission clearance software efficiently handles submission clearance and delivers more precise risk evaluations.
The primary advantage of submission clearance software is its ability to provide fast turnaround times while providing a high level of accuracy. Submission clearance software can analyze both structured and unstructured data, enabling insurers to assess each submission with greater context and confidence.
What Are the Benefits of Submission Clearance Software?
Submission clearance software helps you handle incoming submissions faster and smarter by automating the first steps in your underwriting process. Here are some of the most valuable benefits of submission clearance software.
Keep All Submissions in One Place
All received submissions are stored in one location, regardless of the method of submission. Your team doesn’t have to waste time searching through inboxes or shared drives to find what they need. Submission Clearance Software typically integrates with your existing systems, inboxes, or portals, keeping everything neat and organized.
Smart Data Capture
The software reads documents such as PDFs, ACORD forms, and spreadsheets, and automatically extracts the key details. There’s no need for manual data entry or bouncing between attachments.
No Duplicates
The software checks if a submission has already been received and makes sure each one is linked to the correct broker, saving time and avoiding confusion. The system flags duplicate submissions and matches each to the originating broker.
Prioritizing Submissions
Each submission is scored based on its data and relevancy, allowing underwriters to focus on the highest-value opportunities first. Additionally, with machine learning, the software can determine if a submission aligns with your underwriting guidelines and filter it out if it’s not a suitable match.
Workflow Routing
The submission clearance software doesn’t just collect submissions. Cleared submissions are sent to the appropriate underwriter, team, or system. The underwriter receives a clean submission, ready to quote, without getting bogged down in paperwork.
How Does Submission Clearance Software Impact Underwriters?
Submission clearance software makes an immediate difference. It gives underwriters their time back by removing hours of manual work each week. In many insurance organizations, skilled professionals spend a significant portion of their day sorting through emails, downloading attachments, and reviewing incomplete submissions.
A lot happens before underwriters can even begin true underwriting work. This manual process slows everything down and drains productivity.
With automation handling the front-end busywork, underwriters can focus on what really matters: evaluating risks, making informed decisions, and building strong broker relationships. Submissions that meet the guidelines and are ready to quote rise to the top, while irrelevant or incomplete ones are filtered out early.
The direct results of automation include faster quoting, improved conversion rates, and reduced administrative work for underwriters. In a high-volume, high-pressure market, that kind of efficiency is essential.
Can Submission Clearance Software Replace Underwriters?
Just like any other AI, it’s unlikely that artificial intelligence will ever be able to achieve the same level of complex decision-making as humans. Any type of automation without human checks is risky, which is why submission clearance software typically incorporates human oversight, allowing humans to perform quality checks and process stuck submissions.
Submission Clearance Software doesn’t replace underwriters; it assists them and simplifies their work, allowing them to focus on important matters. If you’d like to find out more about the benefits of document automation in insurance, check out our article How Does Document Automation Transform the Insurance Industry.
BoundAI – Submission Clearance Software Tailored for Your Needs
BoundAI is an AI-powered software designed by insurance underwriters for insurance underwriters. Our team of tech experts is well-versed in insurance underwriting, and each problem you’re facing, they’ve faced it too.
BoundAI’s Submission Triage Agent organizes your files, monitors incoming submissions, and reduces submission turnaround time by 80-90%. Not only was it trained on thousands of real-life submissions, but it also continuously learns from new ones and our team’s feedback.
Sounds interesting? Choose your AI agent:
- Submission Triage Agent
- RiskClear Digital Worker
- Loss Run Analysis Agent
- SOV Processing Agent
- Policy Checking Agent
The Bottom Line
In today’s market, submission clearance software is becoming a strategic necessity for insurers who need to stay competitive. When submissions are handled manually, you lose time, miss good risks, and frustrate brokers. When they’re cleared intelligently, you write faster and with less effort.
The best insurers aren’t just trying to keep up; they’re building smarter workflows as long-term solutions for their companies. Submission clearance software provides you with control and serves as the foundation of a modern insurance intake process.
Submission Clearance Software is an AI-powered software used to automate the process of submission intake in insurance companies. Carriers, underwriters, MGAs, and brokers can all benefit from implementing submission clearance software into their work.
Submission clearance software improves underwriting efficiency by eliminating manual intake tasks. It centralizes all submissions, reduces time spent searching or sorting, and ensures clean, complete data from the start. The result is quicker quoting, higher submission-to-bind ratios, stronger broker relationships, and a more scalable, streamlined operation.
So far, no, submission clearance software doesn’t replace underwriters, but it does support them. While it automates repetitive tasks such as intake, triage, and data extraction, it doesn’t make complex underwriting decisions, and it is estimated that it will never reach that level of autonomy.
