IQUW, a prominent (re)insurer with a focus on digital transformation and seamless broker experiences, has entered a strategic partnership with mea in a bid to transform the underwriting process.
Through the partnership, IQUW’s operations will leverage mea’s generative AI platform to improve efficiency and decision-making.
The partnership seeks to significantly enhance underwriting productivity for IQUW, streamlining how the company processes submissions.
This efficiency boost aligns with IQUW’s strategy to deliver a seamless experience for brokers while maintaining the insurer’s high standards in risk assessment.
Currently implemented within IQUW’s Director and Officer product, mea’s AI solution will be rolled out across all business lines in the coming months.
mea’s Generative AI platform uses cutting-edge natural language processing and machine learning technologies.
This solution allows IQUW’s underwriting teams to convert unstructured submission data into actionable insights quickly, facilitating rapid risk assessment and decision-making. It allows underwriters to process submissions at a significantly accelerated pace, improving efficiency in the process.
IQUW has been focused on innovation in the insurance space, integrating intelligent automation with industry expertise to enhance its broker services.
According to IQUW Group CEO Peter Bilsby, “We’re committed to combining intelligent automation with underwriting expertise to maintain our competitive edge and make trading with IQUW seamlessly simple. The implementation of mea’s platform represents an important step in our underwriting journey, enabling our teams to provide significantly faster response times to brokers, whilst maintaining our high standards of risk assessment. The ability to process submissions at a significantly increased rate will represent a game-changing efficiency gain for our underwriting teams and our overall broker service proposition.”
Graeme Asquith, UK Managing Director at mea platform, added, “We are excited to embark on this new partnership with IQUW and are looking forward to what we can achieve together. This agreement is a testament to our mutual commitment to providing transformative solutions and exceeding our clients’ expectations. We’ve recently signed deals with some of the largest players in the (re)insurance market, and this latest partnership with IQUW highlights the strength of our offering.”
Keep up with all the latest FinTech news here
Copyright © 2024 FinTech Global
