Insurance Underwriting Assistant

The insurance underwriting process is complex, requiring detailed risk assessments, pricing calculations, and policy adjustments to ensure accurate and fair coverage. However, traditional underwriting methods rely on manual data collection and analysis, resulting in time-consuming workflows, potential errors, and missed opportunities.

Our Insurance Assistant streamlines your underwriting process by automatically analyzing insurance applications and related documents to identify missing or incomplete information, determine risk based on historical examples, and generate reports including risk profiles, suggested pricing, and suggested policy adjustments.

Our advanced document extraction technology combines fine-tuned extraction models fine-tuned on a large corpus of insurance applications and advanced, multi-document reasoning agents for high-accuracy data extraction and information processing. The system flags any missing or incomplete information for further review and can automatically follow up with applicants to provide the missing information. 

The extracted information is then analyzed and compared against historical policy decisions, risk profiles, and policy guidelines to generate comprehensive reports and provide suggested pricing and policy adjustments. Insurance professionals dramatically reduce time to insights and streamline their underwriting processes enabling them to efficiently process larger application volumes.

• Faster Turnaround Times
  The Underwriting Assistant significantly reduces the time needed to process applications. By automating key tasks such as risk analysis, data gathering, and report generation, underwriters can finalize applications faster, resulting in quicker policy issuance and enhanced customer experience.

• Comprehensive Risk Reports
  Automatically generate detailed reports, including risk profiles, suggested pricing, and recommended policy adjustments. This allows underwriters to access all relevant information in one place, streamlining decision-making and improving accuracy.

• Simple and Robust System Integrations
  Ingest client profiles by integrating with enterprise systems, uploading files, or manually entering details via chat. The assistant quickly analyzes applications and profiles and flags missing or inaccurate information to help quickly progress through the underwriting process.

• Suggested Policy Adjustments
  Based on risk assessments, the assistant suggests policy adjustments to mitigate risks, ensuring that policies are properly tailored to each applicant's specific circumstances. This reduces the likelihood of under or over-insuring, optimizing both profitability and customer satisfaction.

This powerful Generative AI solution was built with:

• Advanced document extraction technology and fine-tuned extraction models that are pre-trained on a large corpus of insurance documents and further trained on your document templates, historical data, and policy guidelines for improved accuracy.
• State-managed agentic workflows for reasoning against complex constraints.
• Bespoke prompt engineering and turning, including in-context learning, few-shot learning, and task decomposition.