Help people work smarter

Element AI Demo, Dig|In 2019

Founded:

2016

Company Website:

www.elementai.com

Product Name:

Underwriting Partner

Product Description:

The commercial property and casualty (P&C) underwriting process is challenging and complex. From submission to binding, process inefficiencies often result in both suboptimal customer experience and missed business opportunities. Underwriting Partner empowers underwriters to work more efficiently, improving the accuracy, speed and consistency of decisions across all steps in the underwriting process. The result is greater capacity from faster turnaround times and a renewed focus on building customer relationships.

Target Markets:

Property and Casulty insurers specialising in commercial lines

What is your best success story?

Element AI is working with leading P&C insurance companies to streamline commercial submissions. We are targeting a 40% automation of the intake stage for commercial lines submissions with AI, which will ultimately result in a healthier expense ratio by reducing processing costs.

What makes your product great?

Underwriting Partner helps to:
- Reduce processing expense per application by streamlining expensive and error-prone steps
- Improve underwriting cycle time allowing underwriters to deliver more personalized customer service
- Increase total premium written per underwriting employee by delivering faster and more accurate quotes to clients