Insurance Claims Insurance Underwriting Intelligent Intake Insurance automation: How to find the best products and measure their effectiveness June 22, 2023 by adamdev Insurance company IT execs charged with finding solutions to help automate insurance processes likely donāt think much about venture capital firms like mine. But a recent discussion prompted me to consider how our approaches have a lot in common: we both search for viable technologies to address known pain points. This thought occurred to me […] Read more Ā»
Artificial Intelligence Insurance Claims Insurance Underwriting How to avoid AI bias and gather better data for insurance claims and underwriting June 8, 2023 by adamdev Making the best decisions in insurance underwriting and claims comes down to having good data, and lots of it. That becomes abundantly clear when you talk to a chief data officer for a large insurance company and learn about opportunities to collect data, where data is lost, and how to deal with biases in the […] Read more Ā»
Insurance Claims Insurance Underwriting Intelligent Intake How insurers can get over the legacy hurdle and adopt automation technology June 5, 2023 by adamdev Insurance companies often find themselves in a tough spot when it comes to adopting new technology to automate underwriting submissions, claims handling, and other functions: whatever they adopt has to integrate well with their legacy technology. And in the typical insurance company, there is no shortage of legacy technology. Itās an industry thatās famous for […] Read more Ā»
Insurance Claims Insurance Underwriting Intelligent Intake How intelligent intake helps automate complex commercial insurance underwriting processes May 1, 2023 by adamdev When you really dig into the idea of automating the insurance submission process, even seemingly simple steps can become quite complex, making it difficult to achieve end-to-end automation. But you can still achieve significant productivity gains with intelligent intake solutions that automate parts of the process, leaving others for underwriting experts to handle.Ā Itās a […] Read more Ā»
Insurance Underwriting Intelligent Intake Improve accuracy and profitability with intelligent intake in insurance March 30, 2023 by adamdev The current process most insurers use to sort through underwriting submissions requires manual effort from underwriters and their teams to identify relevant documents and relocate them to the correct folder or bin. This task is both time-consuming and prone to errors. Fortunately, the increasing availability of intelligent document processing allows insurance companies to sort and […] Read more Ā»
Center of Excellence Insurance Underwriting How intelligent intake solutions deliver 20:1 ROI for insurance companies March 7, 2023 by adamdev When you can automate insurance processes that used to take a week and instead tackle them in an afternoon, it has repercussions for the business that ādonāt stop,ā according to my most recent podcast guest. It means rethinking processes, creating new products, realizing a rather spectacular 20:1 return-on-investment, and more. On Episode 11 of Unstructured […] Read more Ā»
Center of Excellence Insurance Underwriting How a sound data strategy makes insurance underwriters more effective February 23, 2023 by adamdev Insurance underwriters have a difficult job. If you think about the diversity of industries in the U.S. or globally, itās impossible for any single underwriter to have complete knowledge of the risks inherent to each industry. That makes underwriting an area thatās ripe for the use of effective technology to arm underwriters with the information […] Read more Ā»
Center of Excellence Insurance Underwriting Unstructured Unlocked How technology can help address the shortage of good insurance underwriters February 10, 2023 by adamdev By all accounts, the insurance industry is struggling to find good people, especially in areas like underwriting that require specialized expertise. But technology can help insurance companies close the gap by making the underwriterās job easier and more rewarding, as well as by helping companies retain the employees they already have. This idea sprung from […] Read more Ā»
Insurance Underwriting Prepare for the future: Give your underwriters a bionic arm February 6, 2023 by adamdev Iāve been reading a lot lately about the future of insurance underwriting, much of which talks about how technology ā in particular artificial intelligence ā is going to replace employees. As CEO of an AI technology company that deals every day with large insurance companies, I can tell you that is not at all the […] Read more Ā»
Insurance Underwriting A reality check on the data accuracy debate with respect to automation in insurance January 30, 2023 by adamdev The insurance underwriting process naturally involves vast amounts of data, which is why so many insurers are interested in automating the underwriting submission process. But automation invariably raises questions about data quality and accuracy that are fundamental to maintaining good loss ratios and overall competitiveness.Ā Art Borden, a recent guest on my Unstructured Unlocked podcast, […] Read more Ā» insurance intake insurance underwriting underwriting
