Incarnation Specialty has chosen IntellectAI’s end-to-end underwriting ecosystem to streamline the management and underwriting of submissions, alongside InsureMO’s middleware capabilities.
The move will see the offering, known as eMACH.ai Xponent, combined with InsureMO’s offering, in a bid to quell Incarnation Specialty’s need to rapidly implement an end-to-end underwriting and policy administration solution.
IntellectAI offers eMACH.ai Xponent, an AI-powered underwriting workbench that operates on its Purple Fabric platform.
Purple Fabric is a low-code enterprise AI platform enabling businesses to build and deploy AI solutions quickly and cost-effectively, fostering innovation and reducing implementation timelines.
InsureMO complements this with middleware capabilities that simplify and integrate policy administration across diverse systems.
Incarnation Specialty is focused on niche insurance products, particularly in inland and ocean marine coverage. Their selection of IntellectAI and InsureMO underscores their commitment to leveraging technology to enhance risk assessment and policy management.
Steven Weiss, president of Incarnation Specialty, highlighted the value of the partnership: “We were in the market for a cutting-edge solution that would prove cost-effective for us. We looked at a dozen different systems, but the capabilities, future expansion, growth of the product and the cost structure were all in line with IntellectAI, and they have not failed. Having spent over a year at my previous company and millions of dollars developing a system that was barely capable of meeting the objectives, IntellectAI’s solution stands out as a positive. We look forward to the integration of the front and back ends along with our growth in products.”
Banesh Prabhu, CEO of IntellectAI, celebrated the collaboration: “We are thrilled to welcome Incarnation as a new customer to our underwriting ecosystem. As specialty underwriters, they are the people for whom we design our products. Incarnation understands how to effectively use technology to assess risk and streamline policy management, and we want to thank them for partnering with Intellect on their journey.
“This deal win and quick go-live speaks volumes toward the teamwork required to deliver a project and also the ease at which Intellect’s products can be configured for speed to market. This is especially true for specialty MGAs who need to get quotes out immediately.”
Rajat Sharma, CRO at InsureMO, added, “We are excited that Incarnation Specialty has selected IntellectAI and InsureMO to be their technology partners on their transformation journey. The advanced features and seamless integration of eMACH.ai Xponent, along with InsureMO’s middleware capabilities, will allow Incarnation to quickly and efficiently operationalise their underwriting processes.”
Keep up with all the latest FinTech news here
Copyright © 2024 FinTech Global
