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🚨 IntellectAI Launches Magic Placement, a Purple Fabric-Powered Solution Delivering Business Impact in Policy, Quote, and Binder Comparison with Agentic AI and LLMs. 🚨
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Transform your business with the Power of AI
- Mailbox Extraction
- Completeness Check
- Quick Decline
- Global Clearance Check
- Full Extraction & Validation
- Risks & Exposures Enriched
- Prioritize Best Fit
- Route CAT & UV
Magic Submission – Intake & Routing
Purpose-built AI models to identify and prioritize accounts for the best-fit bind potential. Highest data quality and coverage through the largest insurance data platform for underwriting across business lines.
The numbers presented represent the benefits that our customers have experienced, your results may differ.
What: Value-driven for customers
- Capacity Expansion without adding headcount
- Speed to Quote and Bind
- Standardization and consistency of UW decisions
- Improved Loss Ratios
- New Talent Attraction & Retention
How: Sophistication of AI
- Cognitive ingestion of all documents
- Early knockouts & clearance
- Third-party data validation and enrichment
- Automatic conversion of descriptions to location NAICS, ISO
- Submission prioritization
- Auto quote or route to underwriter
- AI guided quick exception handling
- Loss summarization for business usage
Our approach to data-driven commercial underwriting
The Magic Formula: Intake & Routing
Magic Submission ingests submitted documents in various formats and methods streamlining ingestion and improving efficiency by handling a wide variety of inputs.
AI models extract data from structured, semistructured, and unstructured documents, ensuring all relevant information is accurately captured.
At this step, each submission and its data elements are verified through confidence checks, with exception handling and knockouts performed based on global clearance rules.
The enriched data is routed by on tenant-specific rules and criteria, such as use case, risk type, and underwriter authority. It is directed to the appropriate downstream systems, API, or underwriting workbenches
Documents are automatically classified and accurately sorted based on their content and predefined criteria or preferences, ensuring they efficiently processed.
Data is normalized to ensure consistency and meet tenant-specific requirements. This process standardizes data based on pre-defined nomenclature, providing tenants with contextual, relevant and uniform data.
Upon clearance, all fields are verified and validated, and any missing, incorrect, or inconsistent fields are enriched, including NAICS and ISO codes.
Magic Submission can analyze Loss Runs instantly! Learn more with our in depth brochure!
Accelerate your underwriting operations!
All types – Excel, ACORD, Custom, PDF, Email
60% reduction in Enrich on search/aggregate of risk & exposure information
85% reduction in triage time (hours/days to seconds/ minutes)
27% improved data quality of submissions
99.5% consistency in interpretations of free text
99.3% accuracy in data extraction and validation
800+ additional risk insights
Advantages observed in the core underwriting process of commercial insurance companies
Recent Analyst & Industry Awards and Recognition
IntellectAI's Magic Submission is recognized as an Intelligent Document Processing Ecosystem Solution Provider in Datos Insights' "Underwriting Ecosystem Map for P/C Insurers" report.
Magic Submission is recognized as an 'AI Insights & Language AI Solution Provider' in Datos Insights report 'AI Solution Providers for Insurance'.
Amerisure wins Celent Model Insurer Award 2022 in the Legacy and Ecosystem Transformation category for their underwriting transformation project using Intellect Xponent
“IntellectAI’s Magic Submission is positioned as an Intelligent Text Ingestion (ITI) Solution for Advanced Underwriting”, by Novarica
-Intelligent Text Ingestion: Overview and Prominent Providers
IntellectAI powered St. James's Place Wealth Management wins Celent’s ‘Model Wealth Manager’ award in the ‘Emerging Technologies’ category for ‘New Business Innovative’ initiative. 2020
How StarStone Specialty Insurance leveraged unstructured data to improve underwriting and went on to win Celent’s 2017 Model Insurer Award.
IntellectAI recognized as a “Full AI Suite Provider” who can help carriers streamline their underwriting workflows
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”
Additional Resources
Check out the articles, blogs, webinars, case studies and industry reports from Intellect
Frequently Asked Questions
Magic Submission is an AI-based submission ingestion, extraction, enrichment, triage, and routing system designed for commercial and specialty insurance. It automates handling submissions, ensuring efficient document classification and data extraction through AI and third-party integrations.
Magic Submission offers robust capabilities such as data extraction, classification and extraction, data normalization and enrichment, loss run processing, business rule validation, clearance checks, configurable business rules, among others.
Magic Submission supports various document types, including Word documents, PDFs, Excel spreadsheets, and MSG/HTML/EML emails.
Magic Submission can ingest and extract from both structured and unstructured documents, such as ACORDs, SOVs, driver and vehicle lists, emails, broker specifications, supplemental applications, and loss runs.
Yes, we can support a scanned document that is partially digital and partially handwritten.
Yes, Magic Submission uses a robust UI for human-in-the-loop (HIL) validation. The IntellectAI operations team validates low-confidence data before returning it to the client, ensuring high data accuracy and seamless operations for underwriters.
Magic submission extracts the data from different sources and normalizes the data, which will be shared as the final JSON output.
Ready when you are!
Connect with a product expert to see how the product automates workflow for underwriters.
