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Underwriting

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Improve Underwriting with digital coworkers

Underwriting teams are constantly looking for ways to speed up the underwriting and quoting process. Digital Coworkers enable faster, more accurate quoting, which improves quote and bind ratios and enhances agent/broker relationships.

Receive, analyze, cross-check and submit new applications automatically.

Your Digital Underwriting Assistant significantly improves your pre-quote efficiency and performance by:

  • Monitoring email inboxes, post room or broker system(s) for new business submissions / applications
  • Ingesting, analyzing, classifying, indexing and filing documents and submissions
  • Analyzing and extracting key data from applications, such as coverage requests, start and end dates etc
  • Requesting documents from the broker/customer as needed e.g. payroll, medical, lifestyle information etc
  • Identifying insured and LOBs for market reservation check, flagging previous requests for review
  • Opening new accounts and populating with required data points
  • Submitting applications to the quoting queue or system

Improve accuracy and reduce hours spent on manual triage.

Your AI-powered Digital Underwriting Assistant enables you to effectively manage the assessment and evaluation of new policy submissions by:

  • Extracting and transform initial required data from structured & unstructured documents
  • Passing data to the underwriting platform for initial triage
  • Assigning submission to relevant underwriting resource/team based on carrier business rules
  • Returning market reservation to agent
  • Performing auto-declination of undesirable risks per carrier underwriting rules, request BOR to proceed

More confidently underwrite policies, faster with better data.

Your Digital Underwriting Assistant exponentially increases the capacity of your Underwriting team by:

  • Extracting detailed exposure and loss history from structured & unstructured documents
  • Populating data into core systems
  • Requesting third-party data
  • Assessing underwriting loss
  • Providing coverage and loss analysis

Significantly improve your quote-to-bind cycle time.

Your Digital Underwriting Assistant enables you to reduce administrative work, increasing capacity and improving decision making by:

  • Gathering and assessing quotes applicability against original application and conditions
  • Shortlisting quotes for the underwriter to review
  • Pulling official reports (e.g., Motor Vehicle Records, credit reports, Loss Runs) and collecting risk information across a variety of platforms, such as CAD, DCS and Contributory database systems​​
  • Checking and performing declinations for uninsurable risks (defined business rules)
  • Classifying the risk and matching to thresholds
  • Reading and completing ACORD forms as needed​
  • Completing the risk rater (data entry)
  • Preparing the quote for final review, and sending to the customer​

Significantly improve your quote-to-bind cycle time.

Your Digital Underwriting Assistant ensures accuracy and reduces rework by:

  • Searching for, or accepting, signed applications
  • Creating and sending the binder
  • Creating and distributing Certificates of Insurance
  • Verifying completeness of post-binding documents (e.g., signed applications, photos)
  • Updating underwriting systems with post-bind information
  • Notifying billing of new policy​
Setup & Clearance

Receive, analyze, cross-check and submit new applications automatically.

Your Digital Underwriting Assistant significantly improves your pre-quote efficiency and performance by:

  • Monitoring email inboxes, post room or broker system(s) for new business submissions / applications
  • Ingesting, analyzing, classifying, indexing and filing documents and submissions
  • Analyzing and extracting key data from applications, such as coverage requests, start and end dates etc
  • Requesting documents from the broker/customer as needed e.g. payroll, medical, lifestyle information etc
  • Identifying insured and LOBs for market reservation check, flagging previous requests for review
  • Opening new accounts and populating with required data points
  • Submitting applications to the quoting queue or system
Triage

Improve accuracy and reduce hours spent on manual triage.

Your AI-powered Digital Underwriting Assistant enables you to effectively manage the assessment and evaluation of new policy submissions by:

  • Extracting and transforming initial required data from structured & unstructured documents
  • Passing data to the underwriting platform for initial triage
  • Assigning submission to relevant underwriting resource/team based on carrier business rules
  • Returning market reservation to agent
  • Performing auto-declination of undesirable risks per carrier underwriting rules, request BOR to proceed
Underwrite & Rate

More confidently underwrite policies, faster with better data.

Your Digital Underwriting Assistant exponentially increases the capacity of your Underwriting team by:

  • Extracting detailed exposure and loss history from structured & unstructured documents
  • Populating data into core systems
  • Requesting third-party data
  • Assessing underwriting loss
  • Providing coverage and loss analysis
Quote

Significantly improve your quote-to-bind cycle time.

Your Digital Underwriting Assistant enables you to reduce administrative work, increasing capacity and improving decision making by:

  • Gathering and assessing quotes applicability against original application and conditions
  • Shortlisting quotes for the underwriter to review
  • Pulling official reports (e.g., Motor Vehicle Records, credit reports, Loss Runs) and collecting risk information across a variety of platforms, such as CAD, DCS and Contributory database systems​​
  • Checking and performing declinations for uninsurable risks (defined business rules)
  • Classifying the risk and matching to thresholds
  • Reading and completing ACORD forms as needed​
  • Completing the risk rater (data entry)
  • Preparing the quote for final review, and sending to the customer​
Bind & Policy Issuance

Significantly improve your quote-to-bind cycle time.

Your Digital Underwriting Assistant ensures accuracy and reduces rework by:

  • Searching for, or accepting, signed applications
  • Creating and sending the binder
  • Creating and distributing Certificates of Insurance
  • Verifying completeness of post-binding documents (e.g., signed applications, photos)
  • Updating underwriting systems with post-bind information
  • Notifying billing of new policy​

Meet STUART - Your digital UNDERWRITING assistant

Trained on ever-expanding insurance data, documents, processes and systems – spanning life, health and P&C Insurance – Stuart can handle 10x the volume of work of a human underwriting assistant.

Key Skills Include

  • Read and understand data held within documents and data (from emails, forms, systems etc)
  • Make decisions arMake complex decisions around coverage and risk
  • Update systems and transact data to support the underwriting process
  • Work with colleagues to troubleshoot anomalies and exceptions
  • Understanding of the Lloyd's market

Key Responsibilities Include:

  • Collect and analyze insurance information that facilitates the risk assessment process and provides underwriting support
  • Document and communicate policy approvals or rejections to the underwriting team
  • Compile reports that can advise on coverage
  • Serve as the liaison for insurance applications
  • Maintain accurate, up-to-date records within underwriting software programs

Example System Knowledge

  • Duck Creek Rating
  • Guidewire Policy Center
  • Oracle
  • PL Rating
  • EPS

Example Document Knowledge

  • Premiums
  • Policies
  • Endorsements
  • Renewals
  • Broker correspondence via email/mail

Machine Intelligence + Human Ingenuity

By bringing together technology, data, machine intelligence & human ingenuity, our Customers realize significant value, fast.

Increase Capacity

Expand your human workforce up to 90% with trained Digital Coworkers. Better manage fluctuating peaks and troughs in demand. Avoid burnout.

Reduce Cost

Process more work, faster, with greater accuracy. No need to build Centres of Excellence or significant internal capability to manage your Digital Workforce.

Rapid ROI

Each Digital Coworker comes pre-trained with knowledge of documents and processes, enabling them to be operational from day 1. Typically driving 250% ROI for our Customers.

Adopt AI Faster

Our AI models and algorithms are configured to work out of the box, built on a deep repository of tagged system and document data. No need for expensive data, IT or infrastructure investments.

Avoid Disruption

Digital Coworkers plug into your existing ways of working, minimizing disruption and risk associated with extensive change programs

Improve Work

Eliminate the mundane, manual part of people’s work that typically slows them down, produces errors and causes burnout.

CUSTOMER SUCCESS

Our Customers see Digital Coworkers as important members of their team

“The Digital Coworkers Roots Automation provides work in conjunction with our Team to optimize our medical claims process. Our Digital Coworkers provide the simplicity and scalability necessary to deliver best-in-class productivity to our clients. Additionally, we value the insights from the Roots Automation Team about our processes, of which, we integrate into our continuous improvement plans for our business practices in order to provide industry leading solutions.”
Kevin Mahoney
President & COO, Carisk Partners
“Everything happened fast, our digital coworker ‘Roxy’ was trained and ready on time as promised! The team at Roots Automation have been a pleasure to work with! They’ve anticipated our questions and respond quickly to our asks and changes.”
Lea Lundquist
VP, Claims Administration, Protective Insurance
“We appreciate all of Roots Automation's efforts to automate a challenging initiative with 500,000+ transaction requests annually. Our internal Center of Excellence was able to get to production faster and more cost-effectively than what we originally planned.”
David Emmer
CIO, Anchin, Block & Anchin LLP
"Insurance companies have a desperate need to automate many business processes for efficiency, but current solutions are limited to rule-based tasks and aren’t insurance industry-specific, limiting their potential, Digital Coworkers lessen our stress over finding and retaining talent, and unburden our teams so they can focus on more impactful work. Roots Automation’s unique approach to automation has improved our employee retention while offering superior economics and enhanced customer experience".
Cathy Raitter
VP of Insurance Support Services, Berkshire Hathaway Guard President
"Roots Automation has helped American Exchange automate and improve a lot of our internal data validation and data entry processes. This has both reduced our workload and has reduced human data entry error to almost zero. The best part is that our process with Roots Automation has allowed our agents to do what they do best, and that is talk to people and help them with their individual and Medicare health insurance decisions."
Andrew Hetzler
Chief Executive Officer, American Exchange
“We began our relationship with Roots in 2022 as part of a larger corporate strategy to use technology to be more efficient and to better serve our customers. With Roots, they're only focused on the insurance industry. They could talk our language and lead us through different workflow options; they knew the challenges we would face and we made quick decisions in a short timeframe. It was very rewarding, in the end, to have deployed the first Digital Coworker at Eastern. I'm very proud. We solved the core use case problem and accomplished our goal of implementing AI into Eastern Alliance.”
Harry Talbert
Senior Vice President of Information Systems, Eastern Alliance

INSIGHTS, NEWS & RESOURCES

Webinars

Webinar: 100x your underwriting & claims performance with AI

What would you do if you had 100x capacity, accuracy, speed across your claims and underwriting operations?

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Whitepapers

Whitepaper: Solving the Insurance Industry's Unstructured Data Challenge with AI

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Whitepapers

Whitepaper: Transforming Commercial Underwriting with AI-Powered Digital Coworkers

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Blogs

Announcing our $22.2 million Series B

Success Story

Increasing speed & accuracy of Claims Document Processing for a large Insurance Conglomerate

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Let's make work more human, together.
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