Overview
Combines the power of AI, machine learning, and RPA/API to automate submission ingestion, sanctions checking, and submission clearance, reducing handling time by close to 60%.
By implementing Xceedance Smart Clearance, insurance carriers can experience:
- Productivity gains of up to 50%
- Cost reduction of close to 40%
- Improvement in submission to quote ratio by at least 10%
- Accurate, seamless automation of more than 75% of the human effort
- More than 50% faster delivery
Key Features
› Facilitate new business opportunities and renewals.
› Accurately allocate submissions for automated and manual processing queues, depending on the data
extraction accuracy.
› Automate clearance and sanction checks through the rule engine to dramatically reduce manual intervention.
› Allow for automated data extraction and ingestion from a variety of structured and unstructured data sources
to boost productivity and accuracy.
› Seamlessly integrate with PAS and sanction check providers, enabling you to transact data across the entire
underwriting team for further processing.
Key Benefits
› Automation of submission clearance based on multiple rules, such as sanctions check, inter-regional blocking,
restricted countries, blocking rules, and more. The platform has cleared more than 39,000 submissions
correctly till date.
› In the first phase of the project, a reduction of close to 70% was observed in the handling time for local casualty
submissions, with brokers sending emails directly to the centralized submissions mailbox.
› Creation of submissions in the policy administration system using robotic process automation (RPA) and
APIs. Since its rollout, the platform has created 9,000+ submissions in the policy administration system (PAS).
