Specialty MGA Crux Underwriting is set to leverage mea‘s cutting-edge GenAI-powered platform to elevate its broker service offering.
This collaboration aims to significantly reduce the time required to quote business down to minutes and enabling greater operational efficiency for underwriters.
It will be achieved by integrating the mea Platform with Crux Underwriting’s CruxHub, a cloud-based straight-through-processing system designed to provide a best-in-class user experience for both brokers and insurance markets.
The AI technology of mea Platform, which leverages natural language processing (NLP) and machine learning (ML), automatically converts raw submission data into valuable insights, allowing faster risk assessments and expediting decision-making processes.
For Crux Underwriting, this innovation is set to transform the broker experience and shift underwriter focus from administration to market engagement.
This strategic partnership reflects a shift in the insurance industry towards AI and ML-based automation to improve service speed and quality.
With mea’s advanced data ingestion technology, brokers using CruxHub will experience enhanced workflow as it eliminates the need for repetitive data entry, enabling them to drag-and-drop schedules directly into the system.
This process not only streamlines data extraction but also populates Crux’s pricing tool, creating a nearly instant quoting process.
Crux Underwriting CUO Mike O’Connor highlighted the benefits of the technology integration, stating, “Integrating mea’s AI solution allows brokers to simply drag-and-drop schedules of value, starting with terrorism, directly into CruxHub which then automatically extracts the data and populates our pricing tool, eliminating rekeying and generating quotes in seconds.”
Graham Elliott, Crux Underwriting CEO, added, “This is a truly game-changing solution. We assessed a number of data ingestion vendors and found that mea not only understands our vision, market and use cases significantly better than others, it also outperformed in testing. We’re delighted to announce this strategic partnership and excited about what we can achieve together.”
Speaking on behalf of mea, UK Managing Director Graeme Asquith, remarked, “Crux are mission driven to create a seamless and efficient broker experience, enabled by cutting edge technology – we’re proud and excited to have been selected to deliver this transformative solution. We’ve recently signed deals with some of the largest and most progressive global (re)insurers and this latest partnership with Crux highlights the strength of our offering in all parts of the market.”
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