Eliminate manual re-keying of data with our AI-driven software.
Between policies, slips, quotes, endorsements, contracts, and errant emails, manually capturing the data for one policy can be difficult enough, never mind your entire book of business. Manually re-keying data is not only slow and error-prone, it also ties up valuable resources that could be better used securing more business. What if you could reduce the process of capturing key data from hours to minutes with greater accuracy and more robust results?
Exari Vision Data Capture (DC) automatically scans your documents and intelligently captures every piece of data, eliminating the need to re-key information over and over, massively accelerating the entire quote to bind process. And because DC was purpose-built for the insurance industry, it’s able to recognize and extract the data from even the most complex insurance documents.
What’s more, DC provides an audit trail showing where each piece of captured data was found within the original document, allowing for seamless manual checks to validate the results. That data can then be transformed in line with the ACORD or other standards for use within internal systems. Should you need to transform the data to a custom format, Exari offers the flexibility for the development of custom rules to reflect internal processes and custom requirements.
Compare documents in seconds rather than hours.
When it comes time to renew a policy, most underwriters put the expiring policy and the new policy side-by-side and begin the process of manually checking for changes and compliance. This process can take upwards of an hour for a standard slip and even longer for more complex documents. This process is, in a word, archaic.
Exari Match brings the checking process into the 21st century, allowing documents to be compared in a matter of seconds. Match provides a powerful function for comparing, searching and annotating documents, in any format, eliminating a lot of the “noise” that is generated by traditional redline comparisons and enabling you to focus on the detailed differences in wording. This removes the need for time consuming manual checking of amendments during the contract negotiation, allowing all contract differences to be instantly identified across drafts.
Of course, insurance documents are often saved as different formats, and year-on-year the words, phrases and paragraphs can appear in different orders and may also be structured differently. Don’t worry, Match was designed to tackle each of these challenges, easily comparing PDFs, Word documents, tables, etc.
Easily insure compliance at every stage of the process.
In today’s world, compliance is the same as success. Whether you’re beholden to specific company rules, broader market or syndicate standards, or stringent government regulations, ensuring the compliance of every slip is absolutely essential. Running these checks manually, however, is both inefficient and leaves you open to increased risk.
Exari Quality Assurance (QA) was developed to meet the challenge of ensuring that policies, binders and slips comply with contemporary regulations, while reducing the time taken to process them.
QA works by allowing the user to select and apply pre-defined rule sets to a chosen document, producing a tabular report showing a pass, fail, or marginal result for each rule within the set. Furthermore, it shows the precise areas of text that are relevant to each rule within the checked document, allowing users to instantly review the pertinent wording. This reduces the number of checking cycles which, in turn, reduces the cost of doing business.
Draft compliant policies in a fraction of the time.
When it comes to creating policies, brokers are always working to strike the balance between speed and compliance. Drafting contracts the old-fashioned way means increased risk of errors, inefficient QA checks, and the need to re-key data at various points in the binding and reinsurance processes. The perfect solution would allow users to simply complete a pre-approved template, producing consistent policies, while triggering approval workflows in the events of non-standard wording.
Exari DocGen uses an intuitive, browser-based interview to generate any type of contract. To gather the necessary policy information, users simply answer a dynamic set of questions, instinctively grouped by topic. This information then populates the contract template, creating a compliant, accurate policy in record time.
To further accelerate policy drafting, several interview fields can remain pre-filled so you don’t need to re-key standard data every time. And because DocGen is part of the Exari platform, the data captured in the interview is automatically captured, allowing for immediate reporting and searching.
Reduced Risk - Since company, market, and regulatory rules are built right into the interview, you can ensure all policies generated are fully compliant. For necessary but non-standard wording, workflows are triggered for approval.
Automatic Data Capture - All data entered into the interview is automatically captured for instant reporting and searching.
Central Repository - Templates, wording libraries, and completed policies are all stored in a central repository for easy access immediately or down the line.