Modern customers seek easy, quick, and hassle-free insurance experiences. Yet, the underwriting process is bogged down by manual data analysis and cumbersome exchanges between underwriters, brokers, and customers. A BCG report reveals underwriters spend up to 35% of their time on non-value-adding activities that could simply be automated. Insurers must ask, ‘Why?’
What we offer
Eviden’s ‘Frictionless Underwriting’ uses AI, NLP, and automation to streamline underwriting and boost productivity. Key features:
- Automate application review with NLP.
- Enhance risk assessment with AI and additional data.
- Use ML for pricing based on regulations and benchmarks.
- Speed up quoting and binding with straight-through processing.
- Provide real-time quotes for brokers.
Quick, competitive quoting is essential for success.
Key benefits
Related resources
Revolutionizing commercial insurance: how GenAI is transforming risk assessment
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Frictionless Underwriting: Moving from Art to Science
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