Use case: Automated insurance quoting
Goal
A specialty insurance company, specializing in property and casualty insurance needed to modernize its general liability quoting process to respond to more requests, turn them around faster, and secure more customers.
Challenges
- Unable to respond to the volume of quotes received due to highly manual nature of process
- Quoting process took nearly 2 days to complete because of the disconnected, manual steps
- Ineffective use of underwriter’s time
Solutions
- API-led approach streamlined general liability quoting process
- Automated quote evaluation and determining client type
- Integrated with App Reader to further automate quote creation and emailing final quote to underwriters
Results
- New general liability quoting process takes less than 10 minutes (down from 48 hours)
- Automated nearly 40% of the quoting process
- Accelerated turnaround time for policy quotes, responding to more
