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  Everest Group IDP
             PEAK Matrix® 2022  
Indico Named as Major Contender and Star Performer in Everest Group's PEAK Matrix® for Intelligent Document Processing (IDP)
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Accelerating the Underwriting Transformation Journey with Intelligent Intake

Drive efficiency by automating underwriting processes without compromising security

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.

Makenzie Bickley

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.

I look forward to hearing from you. Thanks!

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Benefits of intelligent intake for insurance claims and underwriting processes:

Expand capacity up to 70%

Increase process capacity and revenue – without adding headcount

Reduce process cycles times up to 85%

Reduce process cycles times up to 85%

Increase customer satisfaction

Faster claims processing and underwriting decisions keep customers happy

Everest Group IDP PEAK Matrix® 2023

Indico Data was named a Leader in both the overall IDP market assessment as well as the IDP for unstructured data market assessment. We demonstrate the ‘strongest year-over-year movement’ of any provider evaluated in the 2023 PEAK Matrix® Assessment, highlighting our significant progress and continued innovation in market impact, vision and capabilities.

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