Accurate risk assessment is crucial in underwriting, ensuring that insurance premiums align with the potential risks. However, with the increasing volume of unstructured data like contracts and legal documents, traditional methods struggle to keep up. This can lead to missed risks and financial losses. Advanced tools now allow underwriters to process and analyze this complex data more effectively, leading to more precise risk evaluations. By improving how data is handled, these solutions help underwriters make better-informed decisions, enhancing overall accuracy in risk assessment and reducing the likelihood of unexpected losses. 🔍 #InsuranceIntake #RiskAssessment #InsuranceClaims
Indico Data
Software Development
Boston, Massachusetts 4,419 followers
The intelligent intake company.
About us
Legacy intake solutions have forced organizations to choose between speed and accuracy, weighing risk versus revenue. With Indico Data’s Intelligent Intake Solution, now you don’t have to compromise. The Indico Data Intelligent Intake solution gives document-intensive industries the best of all worlds, enabling data-driven decision-making, with unparalleled speed, at enterprise scale. Indico Data’s Intelligent Intake solution drives better outcomes through better intake.
- Website
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http://indicodata.ai
External link for Indico Data
- Industry
- Software Development
- Company size
- 51-200 employees
- Headquarters
- Boston, Massachusetts
- Type
- Privately Held
- Founded
- 2013
- Specialties
- Machine Learning, Intelligent Process Automation, Artificial Intelligence, Intelligent Automation, Unstructured Data, Transfer Learning, Composite AI, Deep Learning, Machine Teaching, and Intelligent Document Processing
Products
Locations
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Primary
55 Court St
2nd Floor
Boston, Massachusetts 02108, US
Employees at Indico Data
Updates
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Insurance carriers face three significant challenges: making better decisions in underwriting risk, claims approval, and policy prioritization. As Farooq Sheikh, Unqork, Mike Quintal, Guidewire Software, David Moorhead, EY, and host Tom Wilde, discussed, underwriters currently spend 70% of their time on non-underwriting tasks. With 90% of insurers planning to invest in digital transformation, the industry is recognizing the need for technology to streamline processes, improve decision-making, and enhance customer experiences and retention. https://lnkd.in/edqepG-p #InsuranceClaims #InsuranceIntake #AI
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Join us for a special episode of Unstructured Unlocked as we revisit the top moments of 2024. With new co-host Tom Wilde, CEO of Indico, alongside Michelle Gouveia, VP at Sandbox Insurtech Ventures, we’ve explored fascinating insights across 16 episodes, engaging over 1,300 listeners. Relive the best highlights and discussions that have shaped the year so far. https://lnkd.in/dWsbERW8 #AI #UnstructuredUnlocked #InsuranceIntake
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In the underwriting world, simply speeding up processes with new tools isn't enough. Real value comes from transforming decisions. The key is not just efficiency but harnessing the flood of information to make more informed risk assessments. While many underwriters still rely on Excel, the true innovation lies in adopting best-in-class solutions that offer more than just incremental improvements, pushing the industry forward. https://lnkd.in/gtjsjYdb Chris Payne #InsuranceIntake #Underwriting #IntelligentDocumentProcessing
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Being able to process claims quickly and accurately isn't just a goal—it's a necessity in today’s insurance industry. Customers depend on timely resolutions, and companies rely on efficient claims handling to maintain profitability and customer trust. Did you know that Cushman & Wakefield saved 16,000 hours of employee time by automating document processing with Intelligent Document Processing? This technology cuts costs and reduces errors, ensuring faster and more efficient claims handling. As the industry continues to evolve, embracing new technologies to streamline claims processing is becoming increasingly essential for staying competitive and maintaining customer trust. 🤝 #InsuranceClaims #IntelligentDocumentProcessing #ClaimsProcessing
Cost savings in claims processing through Intelligent Document Processing
Indico Data on LinkedIn
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Discipline is the key to successful underwriting. Organizations that avoid shortcuts and stick to their risk quality principles will always lead the game. With new tools enhancing these efforts, the future looks bright for disciplined underwriters.🚀 https://lnkd.in/gMU9Ugcg Kelly Cusick #UnstructuredUnlocked #IntelligentDocumentProcessing #Underwriting
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AI is transforming the industry, and Intelligent Document Processing is at the forefront. Intelligent Document Processing streamlines workflows automates repetitive tasks, and extracts valuable insights from documents, allowing developers to focus more on innovation. Embrace the future of software development with AI-powered intelligent document processing and take your projects to the next level. 🚀 https://lnkd.in/g_ArMZKp Asif Mahammad Syed #IntelligentDocumentProcessing #UnstructuredUnlocked #InsuranceIntake
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Telematics and AI are revolutionizing the insurance industry, driving a shift towards more personalized, consumer-centric solutions. In a recent discussion, Bill Costa, a seasoned insurtech executive, highlighted how data collection and advanced technology are transforming traditional insurance practices. Telematics, particularly in auto insurance, is changing the way risk is assessed, influencing driving behavior, and paving the way for safer roads. Costa also emphasized the critical role of AI in processing unstructured data, enabling insurers to extract actionable insights and develop innovative products. As the industry evolves, the focus remains on enhancing customer experience and operational efficiency through technology and strategic partnerships. #UnstrucuredUnlocked #IntelligentDocumentProcessing #InsuranceIntake
Transforming insurance with data: how telematics and AI are shaping the future
Indico Data on LinkedIn
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Real-time data analysis is crucial for understanding and pricing risk in the ever-changing cyberspace. This approach allows for swift reevaluation of underwriting criteria, ensuring that new products are accurately assessed and better protected against emerging threats. 🛡️ https://lnkd.in/gMU9Ugcg #UnstructuredUnlocked #IntelligentDocumentProcessing #InsuranceIntake
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📣Last call for tomorrow’s webinar, Tom Wilde, Farooq Sheikh, Mike Quintal, and David Moorhead will discuss how the insurance industry is rapidly transforming through collaborative ecosystems. As carriers face increasing pressure to innovate, this conversation will explore the critical role of AI, data platforms, and integrated technologies in driving better decision-making. Don’t miss this opportunity to hear from industry experts on the future trends shaping insurance in 2024 and beyond. https://lnkd.in/gAZ4YdTN #InsuranceIntake #InsuranceEcosystems #IntelligentDocumentProcessing