In the constantly evolving landscape of insurance underwriting, QBE seeks not just to adapt but to redefine the journey. With aspirations to streamline operations, enhance decision-making, and fortify profitability, QBE envisions an environment where underwriters are empowered with efficiency, uniformity, and sophisticated tools at their fingertips.
Andrew Horton recently noted that improving underwriting operational processes and performance are critical in order to further advance QBE’s portfolio optimization, which is among its strategic priorities. QBE’s recent underwriting performance reported a combined operating ratio (COR) of 98.8% and North America’s 106% in 1H23. In response to the challenges faced, the utilization of Intelligent Intake to quickly ingest data coming in from highly unstructured documents could be invaluable.
By automating document ingestion across underwriting, claims, and policy services, all of which come with unstructured documents in various formats, QBE can enhance efficiency, reduce manual errors, and expedite submissions and claims processing. This streamlined approach supports QBE’s commitment to underwriting and their goal of consistent profit. With challenges like unexpected costs, applying AI using Intelligent Intake to automate data ingestion offers a practical tool to aid in refining QBE’s underwriting processes – ultimately driving efficiency and GWP, while improving customer satisfaction.
Enterprise Account Executive, Indico Data
If you’d like to further explore what a partnership with Indico would look like, feel free to book a meeting with me.
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