Powerful new features enabling carriers to accelerate decisioning across the policy lifecycle; optimizing loss ratios, improving the customer experience and driving premium growth.
Boston, MA, October 31, 2023 – Today, Indico Data, the intelligent intake company announced Indico 6, a major release of its AI-power Intelligent Intake solution. Indico 6 addresses the growing need for carriers to pivot from mere data-driven insights to actionable, outcome-focused decisions. The insurance industry is grappling with optimizing underwriting profits, minimizing claim costs, and enhancing customer satisfaction. Indico 6 is purpose built to enable carriers to address these challenges head-on.
Turbo-charge time to value: Indico 6’s Prompt Studio revolutionizes machine learning model development with a “zero-shot” approach, allowing for the rapid creation of custom models through simple text prompts that identify desired data elements. This process reduces model development time from days to mere minutes and includes Indico’s market-leading AI Explainability.
Optimize decisioning: With Indico 6, you now have the ability to efficiently process complex tabular and form base data from documents such as loss runs and SOVS which enables more accurate, faster risk assessment.
Improve operational efficiency: Enhancements to human in the loop features in Indico 6 delivers a 33% reduction in processing times of complex submissions , promoting accurate decision-making and reduced costs.
Increase accuracy: With field normalization and validation you can ensure the data you are extracting is automatically normalized for whatever downstream core system you are using for accelerated, accurate processing. Indico 6 also offers hundreds of out of the box accelerator models from names you trust, including Microsoft and ACORD.
Accelerate time to quote: Through its seamless Microsoft Exchange Integration, Indico 6 enables carriers to process inbound email submissions automatically, ensuring swift and responsive communication with brokers.
“Indico 6 is another major advance in our focus of enabling carriers to have access to better data to drive better decisions.” said Tom Wilde, CEO of Indico Data. “Carriers today are facing a “triple squeeze” where economic pressure, scarce talent and supply chain challenges are forcing them to rethink their operating models to remain competitive. Our focus on Indico 6 was to give carriers a solution that will give them access to better data which in turn, will drive more accurate, accelerated decision making.”
The release of Indico 6 takes the solution a major step forward by introducing a set of features that allow carriers to accelerate decision making, leading to improved loss ratios, customer satisfaction and premium growth.
About Indico Data:
Indico Data automates critical workflows for enterprises in document-intensives industries, including insurance, financial services and commercial real estate. With the Indico Intelligent Intake™ Solution, organizations of all sizes can free their experts from tedious, manual tasks, and allow them to deliver more business value. Now, better intake yields better outcomes. Visit IndicoData.ai to learn more.