This insurance firm was struggling to effectively manage the massive volume of daily broker submissions. By reviewing these submissions manually and not automating this process, the firm was missing out on a massive revenue growth opportunity.
Birlasoft's commercial lines submission automation solution uses AI and machine learning as the core technology to speed up the underwriting process. It streamlined the submission process through automatic intake of data from ACORD Forms and other documents, tracking submissions data on a dashboard and provides for large volume handling, pre-clearance using rules, expedited quote process and profitable books. This solution leveraged AI and machine learning based built-in models to continuously learn and improve from submissions handling and underwriters' actions resulting in bind/no-bind decisions.