Cogito for
Underwriting

Accelerate Commercial Insurance Underwriting with Natural Language Understanding

For commercial and corporate insurers uses Artificial Intelligence (AI) to automate the repetitive, labor intensive tasks typical of the underwriting process.

AI-based Natural Language Understanding (NLU) lets Cogito read, understand and extract data from claims, risk analysis reports, email and other unstructured documents the same way humans do.

Increasing the volume of data considered during underwriting avoids unexpected risk exposure. Cutting research time produces underwriting offers ahead of the competition, winning more business.  When peak demand occurs, Cogito scales document input, allowing existing human experts to meet underwriting demand.

By automating document understanding, Cogito enables insurance professionals to focus on the highest-value areas of their jobs.

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Speed up the Quote

Automatically detect and extract information from submission forms and risk reports so underwriters can create a pre-quote fast.

Compare policies and slips

Extract the conditions, coverage, exclusions and endorsements. Compare policies: local vs. master.  Find the inconsistencies in broker slips, renewals, and terms and conditions.

Streamline risk assessment

Extracts risk factors from risk reports (energy, property, etc.) with a corresponding grade and assigns an overall evidence-based risk grade to the locations to be insured

Cogito for Underwriting Business Benefits FAQ

What are the business advantages of Cogito for Underwriting?

Increased efficiency for risk engineers and underwriters, faster processing times (from hours to seconds), faster time to quote, increased sales capacity, consistent and accurate compliance and auditing, reduced reserving and leakage, reduced exposure to risks and improved customer experience.

What documents can be managed with Cogito for Underwriting?

Cogito for Underwriting enables easy and accurate access to key pieces of information present in unstructured documents used in the underwriting process, such as third-party risk reports, requests for quote, contracts and policies, emails, pdfs and more.

How can Cogito for Underwriting support my legal department?

It is very common for an Insurance company’s legal department to spend time reviewing and comparing legal documents to ensure compliance and consistency across the organization. In the review of existing policies, you can automatically analyze clauses and compare them to reference policies to flag misalignments and excessive exposure. In the case of new regulation entering into law, Cogito for Underwriting can identify its impact on your company, pinpointing the legal documents or policies, process and procedures that must be updated.

Does Cogito support any other Insurance processes?

We drive automation in many other insurance processes, including claims, compliance and customer care. Learn more about Cogito for Claims and Cogito for Insurance.

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