Key Features
Kalepa's Copilot is the trusted underwriting software that’s designed to make every underwriter your best one.
To start, Copilot automatically digitizes submissions from unstructured documents like broker emails, SOVs, loss runs, application forms, and supplemental applications using AI algorithms like OCR and LLMs. This allows Copilot to create a digital footprint for every submission within minutes.
From there, Copilot’s AI engine prioritizes risks that are most likely to bind profitably and matches portfolio objectives, but filters out submissions that violate insurer guidelines. With Copilot’s easy-to-use interface, underwriting leadership can rapidly update preference criteria and guidelines as their objectives and appetite evolve, such as in preparation for catastrophic weather events or in response to changes in claim activity.
Next, Copilot’s ML models identify key exposures from both first-party data and third-party data (e.g., news, online reviews, social media, legal filings, geographic risks, government databases, and the insurer’s other vendor partners).
Copilot then delivers these insights in a streamlined interface that is optimized for underwriters, so they can quickly review large schedules of value and correspond with brokers, all in one place. Every underlying datapoint is just a click or two away, as Kalepa provides full transparency into every risk.
As underwriters use the solution, Copilot’s reinforcement learning model determines which submissions to prioritize and which insights to highlight so underwriters can make better decisions, faster. Copilot’s management dashboard also analyzes every submission an insurer receives - both their bound book and the business they declined or lost - and delivers insights for leadership review, so they can better manage their appetite, broker relationships, and underwriting team.
Copilot operates out-of-the-box: that means insurers reap the value from day one. Our secure cloud deployments provide world-class data protection without any development or maintenance on the insurer’s end.
Copilot also supports a variety of integrations, from simple email forwarding to easy-to-use APIs. These connections span the entire underwriting process, from transferring the submission to auto-populating rating information to audit trail reports on every bound risk.
Key Benefits
Thanks to Copilot, Kalepa’s clients are able to successfully expand their books without taking on undesirable risks, to review more submissions without sacrificing thoroughness, and to implement a fully-integrated solution that continually evolves with underwriter feedback and performance.
All told, insurers typically experience combined ratio improvements exceeding 1000 bps - 5-10x the impact of almost every other initiative or investment. From an efficiency standpoint, Copilot allows underwriters to quote complex risks 58% faster - allowing them to achieve growth objectives. At the same time, insurers are able to select better risks, allowing them to construct a more compliant and profitable book of business, typically achieving a 500-700 bps improvement in loss ratio. This is how Kalepa helps commercial P&C insurers bind with confidence.