The commercial underwriting lifecycle — from submission to binding — is a complex process with many challenges and inefficiencies. A high volume of submissions rife with unstructured data can take high-skilled and expensive talent away from higher value-add work, stretching workforce capacity to focus on repetitive tasks to quote and bind. In the end, this can lead to suboptimal customer experience and potential business left on the table.
Element AI’s Underwriting Partner product streamlines underwriting decisions for leading property and casualty insurance companies by reducing processing costs and improving your ability to consistently and accurately assess risk, resulting in a healthier Combined Ratio.
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