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A global specialty insurance and reinsurance carrier sought to streamline submission intake to reduce administrative burdens and enhance underwriting decisions. With Indico’s Submission Ingestion Solution, they automated labor-intensive tasks like monitoring email submissions, extracting key data from complex documents, and entering it into their underwriting system—dramatically accelerating their speed to quote. This transformation allows underwriters to focus on high-value decision-making, strengthening the carrier’s competitive advantage.
Struggling with operational bottlenecks from their previous vendor, the carrier faced submission processing times of up to two hours and accuracy rates below 60%, causing delays and poor data quality that impacted broker relationships and competitiveness. Seeking a faster, more accurate, and adaptable solution, they looked for a strategic partner that aligned with their long-term roadmap and complemented their outsourcing model. This search led them to Indico Data, which provided the efficiency and accuracy needed to refocus on their core strength—underwriting.
In just eight weeks, the carrier successfully went live with Indico Data, automating emails and slips workflows—an achievement they noted far surpassed their progress with other vendors over three years. Indico Data’s flexible, customizable platform allowed the carrier to tailor workflows to their specific processes, avoiding the limitations of rigid, one-size-fits-all solutions. With a 97% implementation success rate and a highly responsive team, Indico delivered rapid value, earning praise from the carrier’s executive team and a strong recommendation for other insurers seeking a transformative solution.
Indico Data’s AI-powered solution reduced the carrier’s submission processing time from two hours to just 40 seconds while achieving 91% accuracy with zero human intervention, significantly accelerating underwriting decisions. The automation minimized manual review, allowing underwriters to trust extracted data instantly and improving overall operational efficiency. Impressed by the rapid success, the carrier expanded Indico across all viable lines of business, launching 10 use cases in just months and demonstrating measurable ROI, especially in high-volume specialty insurance lines. Indico’s flexibility and scalability have enabled the automation of complex processes like Loss Runs and SOV ingestion in under 30 seconds, outperforming competitors with a broader and more successful implementation. Looking ahead, the carrier aims to move toward full automation, reducing human validation entirely and continuing to streamline operations for faster decision-making and improved efficiency.
