Automate your intake and routing with Intellect Magic Submission
Purpose-built for Commercial, Specialty and E&S Lines.
Transform your business with the Magic 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 linesThe 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.
Accelerate your underwriting operations!
All types – Excel, ACORD, Custom, PDF, Email
60% reduction in UW time 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
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
Ready when you are!
Connect with a product expert to see how the product automates workflow for underwriters.
