Historically, underwriters have struggled to maintain up with the huge and quickly altering information panorama when evaluating property dangers. This has usually resulted in missed important information factors and less-than-optimal underwriting selections. But with immediately’s developments in Artificial Intelligence and Machine Learning expertise, insurers can now harness a variety of information sources and analyze them with goal insights and suggestions. The finish consequence: improved threat administration.
Majesco’s Game-Changing Property Intelligence Solution
In the Fall ’22 Release, Majesco is introducing Property Intelligence, a cutting-edge AI resolution that empowers insurance coverage carriers to make knowledgeable selections about property dangers. With its proprietary differentiators, Property Intelligence presents a degree of perception into properties by no means seen earlier than.
Majesco’s Property Intelligence makes use of superior AI analytics to supply quantitative threat scores, leveraging a wealth of exterior information sources and proprietary loss management information. Leveraging AI fashions behind the Property Intelligence are skilled with over 16 million inspections, 200 hundreds of thousands property pictures and a couple of billion information factors collected and analyzed by skilled threat engineers, underwriters can rapidly determine hazards and make data-driven selections.
Not solely is Property Intelligence obtainable as a standalone resolution with easy APIs for integration with any methods, however it’s additionally totally built-in into Majesco’s Policy and Loss Control workflows. And the perfect half? Customers can begin utilizing it instantly, with zero integration effort.
What Benefits Does Property Intelligence Offer?
- Reduced loss ratios by way of improved underwriting and threat choice
- Enhanced underwriting effectivity, decreased bills, and sooner turnaround instances, together with the flexibility to skip loss management inspections for low-risk properties
- More correct and faster property quotes
- Better information for improved reinsurance scores, contracts, and pricing
- Pre-integrated with Majesco’s Policy and Loss Control, leading to on the spot worth realization
We’re extremely excited concerning the launch of Property Intelligence and the numerous extra AI options in our roadmap. In immediately’s aggressive market, carriers can now not afford to depend on outdated information and operational processes. By embedding AI-powered analytics into workflows for underwriting, claims, distribution, buyer expertise, and different areas, insurers can set themselves aside and ship larger worth to clients. We invite you to check out these improvements and tell us your ideas.
Do you’ve got any questions or extra ideas on this matter? Leave a remark or get in contact with our product groups.