Digitizing Data for Actionable Insights Drives Profitability and Growth

The current manually intensive submission intake process is fraught with incomplete and inaccurate data. Unstructured and semi-structured data, including loss run information, can be overlooked or lost which impacts decision-making. Underwriters are challenged to make timely and effective risk decisions when they must rely on data from multiple sources across varying formats without the ability to cleanse and prioritize the most relevant elements needed for risk decisions. SubmissionIQ solves these challenges and provides clear benefits and competitive advantages for insurers.

We transform the underwriting and submission process through the smart application of data science and third-party data. SubmissionIQ accurately and automatically captures all information, prioritizes opportunities, automates manual tasks, providing loss runs and account level loss history analytics. By streamlining broker communications, underwriters can focus on the best business opportunities to improve growth and profitability.

Delivered as a SaaS (Software as a Service) solution that integrates directly into the underwriting workflow, SubmissionIQ also enables submissions to be enriched with third-party data at critical decision-making points. TSIQ delivers this solution coupled with a high level of end-user support that recognizes the amount of transformation underwriters are experiencing in the commercial Property and Casualty (P&C) space.

TSIQ

SubmissionIQ elevates the art of underwriting by leveraging data earlier in your workflow to ensure better risk selection and more accurate pricing.

Helps underwriters prioritize and triage submissions by presenting a holistic view of the queue, applying appetite checks and exposing relevant factors to enable the underwriter to focus on the “right” kind of business. These high priority factors enable smarter prioritization.

Validates and enriches submission information by applying third-party data and assessing ingestion confidence, driving confidence in the data an underwriter operates on.

Stores all submission information whether it eventually binds or not. All data provided in the application process is valuable and holds the keys to critical insights into your business. This data asset enables producer analysis, risk assessment and a myriad of underwriting decision-making considerations critical to the process.

Improves operational efficiency by automating the submission intake process — ingesting all the information from submission emails, application forms, loss runs and other attachments, including structured and unstructured data. Data science techniques including OCR and NLP are used to convert unstructured data, including handwriting.

Streamlines broker communication by supplementing application information quickly and efficiently increasing brokers’ visibility into the underwriters’ risk appetite.

Reduces time it takes to ingest, analyze and triage submissions from days and weeks to minutes.

Helps underwriters grasp loss run data quickly and thoroughly both within an account and across all businesses.

Gives executives insight into broker performance and pipeline health to better manage the business for productivity and profitability.

SubmissionIQ