Indico Data

The insurance industry is recognizing the need to enhance decisioning across the policy life cycle, from underwriting risks to prioritizing claims and policies. 🔍 With 70% of an underwriter’s time spent on non-core tasks, inefficiencies lead to missed opportunities and impact decision quality. As 90% of insurers plan to boost digital transformation investments, partnerships and tech-driven ecosystems are key to addressing these challenges. Not only can this improve underwriting and claims processes, but it also enhances customer retention, which is more cost-effective than acquiring new clients. Watch full webinar here: https://lnkd.in/edqepG-p Farooq Sheikh, Mike Quintal, David Moorhead, Jeremy Stinson #InsurTech #Underwriting #InsuranceEcosystems

The rapid shifts in technology—from digitization to full-scale AI integration—demand a deeper understanding and a proactive approach to decision-making. Partnering with third parties or building in-house AI solutions requires businesses to carefully balance control and data security. In our podcast with Wendi Bukowitz, we explored how companies can redefine resource allocation strategies to keep pace with these advancements. AI, particularly generative AI, offers exciting opportunities but also introduces unique complexities. By embracing these challenges, businesses can unlock their full potential while maintaining transparency and accountability. 🔍 https://lnkd.in/gaU4ieS3 #InsurTech #UnstructuredUnlocked #DataDecisioning

The claims experience is evolving, but progress hasn’t been linear. 🎯 Ian Thompson, former Zurich Insurance executive and global insurance & claims expert, says leaders often feel like athletes running with a parachute—pushing for change but weighed down by legacy systems. The shift toward decisioning powered by AI is gaining traction, driven by customers who “𝘸𝘢𝘯𝘵 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯 𝘪𝘯𝘴𝘵𝘢𝘯𝘵𝘭𝘺, 𝘲𝘶𝘪𝘤𝘬 𝘥𝘦𝘤𝘪𝘴𝘪𝘰𝘯𝘴, 𝘢𝘯𝘥 𝘵𝘰 𝘣𝘦 𝘬𝘦𝘱𝘵 𝘪𝘯 𝘵𝘩𝘦 𝘭𝘰𝘰𝘱 𝘸𝘪𝘵𝘩𝘰𝘶𝘵 𝘧𝘦𝘦𝘭𝘪𝘯𝘨 𝘭𝘪𝘬𝘦 𝘵𝘩𝘦𝘪𝘳 𝘰𝘸𝘯 𝘱𝘳𝘰𝘫𝘦𝘤𝘵 𝘮𝘢𝘯𝘢𝘨𝘦𝘳.” Modernizing claims isn’t just about tech—it’s about attracting talent and delivering on insurers’ core promise. 🎧 Listen to our conversation with Ian: https://lnkd.in/d94G_ghq #ClaimsProcessing #InsuranceInnovation #InsurTech #UnstructuredUnlocked

Underwriting teams often face overwhelming submission volumes, especially during peak periods. Enterprise AI helps insurers manage this by transforming complex data—like emails and PDFs—into actionable insights. 📑 By streamlining risk assessment and prioritizing submissions in real time, underwriters can make confident, accurate decisions faster. This approach not only boosts efficiency but ensures high-value opportunities don’t get overlooked. #Underwriting #InsurTech #InsuranceClaims

“How do you know if it’s a water leak or just the sink left running? That’s where AI comes in." Bill Costa, former GEICO exec, shares how AI can sift through alerts, reduce false positives, and improve decisioning when devices like water sensors help prevent losses. In our podcast, he explored how insurers can use AI to get ahead of risks—like sharing proactive tips before storms or hail events. ⛈️ These tools empower insurers to protect customers more effectively while ensuring loss prevention efforts don’t become penalties. Listen to the full episode for more insights: https://lnkd.in/gSUY7_-h #ClaimsProcessing #DigitalTransformation #InsuranceIntake

We recently spoke with Louis DiModugno, Global Chief Data Officer at Verisk, who offered a clear path to strengthening insurers’ data foundations. As Louis put it, “𝘞𝘩𝘦𝘯 𝘺𝘰𝘶‘𝘳𝘦 𝘣𝘦𝘵𝘵𝘦𝘳 𝘱𝘰𝘴𝘪𝘵𝘪𝘰𝘯𝘦𝘥 𝘵𝘰 𝘳𝘦𝘴𝘰𝘭𝘷𝘦 𝘥𝘢𝘵𝘢, 𝘺𝘰𝘶‘𝘳𝘦 𝘣𝘦𝘵𝘵𝘦𝘳 𝘱𝘰𝘴𝘪𝘵𝘪𝘰𝘯𝘦𝘥 𝘵𝘰 𝘴𝘦𝘳𝘷𝘦 𝘤𝘶𝘴𝘵𝘰𝘮𝘦𝘳𝘴.”For insurance agencies, improving data accuracy and governance can set the stage for more effective underwriting, claims decisions, and customer experiences. In the conversation with Tom Wilde and Michelle Gouveia, Louis highlighted a few key points: 📈 Cleaner data leads to more reliable AI models and improved product outputs. 🔐 Strong data governance practices ensure your data remains trustworthy, helping your business scale with confidence. 🗣️ Integrating top-notch data into AI workflows helps insurers streamline operations and better serve their customers. Louis’s message is straightforward: 𝙚𝙭𝙘𝙚𝙡𝙡𝙚𝙣𝙩 𝙙𝙖𝙩𝙖 𝙞𝙨 𝙢𝙤𝙧𝙚 𝙩𝙝𝙖𝙣 𝙖 𝙩𝙚𝙘𝙝 𝙨𝙩𝙚𝙥; 𝙞𝙩’𝙨 𝙖 𝙠𝙚𝙮 𝙙𝙧𝙞𝙫𝙚𝙧 𝙤𝙛 𝙖𝙘𝙘𝙪𝙧𝙖𝙘𝙮, 𝙘𝙤𝙣𝙛𝙞𝙙𝙚𝙣𝙘𝙚, 𝙖𝙣𝙙 𝙜𝙧𝙤𝙬𝙩𝙝. #UnstructuredUnlocked #DataGovernance #InsurTech

“When thinking about AI in underwriting, there’s always a bit of hesitation, especially from seasoned professionals,” says Rick Russell, retired VP of underwriting for Chubb and underwriting director at Nationwide, in Unstructured Unlocked season 2 episode 11. Underwriters have their own methods, and it’s natural to be cautious when a new tool like enterprise AI enters the picture. However, showing that AI can support their decisioning process by providing accurate and reliable insights is key. It’s not about replacing their expertise but enhancing it. By demonstrating the accuracy and efficiency that AI brings to the table, we can help underwriters feel more confident and comfortable in adopting these tools. https://lnkd.in/dRCAcBAu #DataDecisioning #UnstrucuredUnlocked #InsuranceAI

We’re proud to share that our CEO, Tom Wilde, was recently featured on RPC's Insurance Covered podcast, hosted by Peter Mansfield. In this episode, Tom discusses how high-quality data and AI are transforming the insurance industry, from better underwriting to smarter decision-making. He also shares practical advice on how insurers can unlock the full potential of their data. Listen now to hear his insights on why insurers need a strong data strategy to stay competitive: https://lnkd.in/gBcAGjJz #InsurTech #AI #DigitalTransformation

In episode 9 of Unstructured Unlocked, we spoke with Parul Kaul-Green, CFA, CEO and Founder of Eudaimon Consulting, about how the definition of transformation has evolved in the insurance industry over the last 10-20 years. Parul shared how, a decade ago, transformation meant overhauling core systems like policy and claims administration. Today, digital transformation builds on that foundation, focusing on automating processes to drive efficiency and improve service. Listen to the full conversation here: https://lnkd.in/g-jKFdpb #DigitalTransformation #InsuranceIntake #UnstrucuredUnlocked

AI is transforming claims accuracy and risk management in the insurance industry, offering significant improvements in decision-making and fraud prevention. By analyzing large volumes of structured and unstructured data, enterprise AI identifies patterns, flags inconsistencies, and ensures data accuracy—crucial for both fair claims assessments and proactive risk management. 🔎 The future of insurance lies in smarter, faster decisioning, powered by real-time, data-driven insights. #DigitalTransformation #InsuranceIntake #AI