Advanced submission processing
Cognitive Intake with 98% accuracy to:
Substantially improve submission accuracy, mitigate data error related risk while simultaneously increasing overall throughput speed and efficiency of your underwriting team.
Xponent - The Commercial and Specialty underwriters AI workbench
Purpose built for Commercial and Specialty insurance providers
Bring out your AI game with Xponent
Captured below are improvements and benefits experienced by commercial insurance companies within the core of their underwriting process.
60%
Faster Underwriting Decision Cycle time
3000+
Data points
>50%
Improved Collaboration, Underwriting Discipline and Consistency
The numbers presented represent the benefits that our customers have experienced, your results may differ
Our approach to data-driven commercial underwriting
Why Xponent?
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.
With Xponent
Without Xponent
Inefficient underwriting process
Disparate Intake sources create inconsistent or incorrect submission data leading to premium leakage and mitigatable risks.
Especially the manual and paper intensive submission can only ensure basic data accuracy, the lack of ability to properly store the data for quick collaborative access without interrupting core-business continuity.
Validated and enriched data with real-time accuracy
Risk Insights through 3000+ data points to:
Empower your underwriters with real-time data to craft the perfect policy you get: real-time 360-degree intelligence reports on your customer’s properties and locations within seconds, protecting your risk at all times.
Inadequate or outdated data requiring manual validation
On average, 60% of an underwriter’s time is spent on non-qualitative tasks.
Manual data searches and consolidation, removing noise and filtration combined with legacy-driven sources has low coverage and is expensive considering its validity tenure.
Account-centric underwriting with AI-driven risk monitoring
Account Centric Risk view to:
Ensure the accuracy of your decisions. Combined with intelligent orchestration of data, processes, rules and real-time collaboration between your teams.
Policy centric underwriting with collaborative difficulties
Policy Administrative Systems (PAS) providing transactional view
PAS is designed for providing a transactional view limiting the holistic risk determination of an account.
Learn how this leading commercial lines carrier leveraged Xponent to drive efficiencies in Underwriting process and portfolio growth
Access case studyHow can Xponent be configured to benefit your business needs?
Account Centric View
Account monitoring across multiple lines, audits, loss control and transactions. Integration with carrier systems for high efficiency and faster turnaround.
Risk Analysis
Process both structured and unstructured data. Validate submissions using truth factor algorithms and create alerts based on customized scoring models based on your risk appetite.
Cognitive intake
Automated data intake and enrichment process, removing redundancies and improving overall underwriting quality.
Product configurator
Enables quick roll-out of new LOBs based on pre-deterimined rules and workflows for data, risk and process. You can also create schedules & position ‘underwriting questions’ to be asked at different stages of a customer’s lifecycle of interactions.
Workflow and business rule
Xponent offers a highly configurable workflow for submission across multiple lines of business in your commercial underwriting process.
This includes but is not limited to underwriting review rules, pre-defined underwriting guidelines, eligibility criterias, variations and exceptions based on your personalization needs.
Endless benefits that give you the competitive edge to improve your customer portfolio!
Xponent searches across thousands of data sources matching the company, identifying risk indicators with advanced Natural Language Processing (NLP), while learning from the underwriter the best data to use.
Increase underwriting throughput by at least 30% to 40%.
Seamless collaboration between underwriters, brokers and agencies.
Sharpen renewal retention and pricing based on real-time risk monitoring.
Multi-product and multi-quote view for comparative analysis.
Intuitive dashboards with 40+ reports on process, performance and other administrative insights.
Additional Resources
Check out the articles, blogs, webinars, case studies and industry reports from Intellect
The first step in the next generation of underwriting starts here.
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