Insurance and investment platform Nationwide has partnered with InsurTech NeuralMetrics to help agents serving the small commercial insurance segment save time in the quoting process.
NeuralMetrics is an InsurTech data provider using natural language processing to power a real-time quoting experience. The company’s Smart Ratio platform uses machine learning to extract information from hard-to-access, unstructured public data, and delivers classification and underwriting for commercial lines property and casualty (P&C) insurance companies.
Today’s small businesses expect quick service, NeuralMetric said. To help meet those expectations, Nationwide utilised NeuralMetrics technology to boost its small commercial quoting tools. The company said agents can now enter client information and leverage pre-fill data to evaluate underwriting exposures and quickly generate a quote.
Dawn Thompson, associate vice president of expedited underwriting for commercial lines at Nationwide, said, “Small commercial accounts are an important growth segment for many independent agents, but historically many have shied away due to high time commitments and other factors.
With the NeuralMetrics tool, we’re able to streamline the quoting experience for agents serving small commercial clients, creating more lucrative opportunities to grow their books of business in the small business sector.”
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