Indico Data’s Post

We recently talked with Rick Russell, retired VP at Chubb and former Underwriting Director at Nationwide, about how AI is transforming underwriting, and the insights were incredible. Rick emphasized how AI is revolutionizing the industry, making underwriters’ jobs easier while helping companies make faster and better decisions. As Rick put it, “𝘐 𝘵𝘩𝘪𝘯𝘬 𝘵𝘩𝘦 𝘣𝘪𝘨𝘨𝘦𝘴𝘵 𝘤𝘩𝘢𝘯𝘨𝘦𝘴 𝘩𝘢𝘷𝘦 𝘣𝘦𝘦𝘯 𝘪𝘯 𝘢𝘶𝘵𝘰𝘮𝘢𝘵𝘪𝘰𝘯 𝘢𝘯𝘥 𝘳𝘦𝘢𝘭𝘭𝘺 𝘵𝘩𝘦 𝘦𝘧𝘧𝘪𝘤𝘪𝘦𝘯𝘤𝘪𝘦𝘴 𝘵𝘩𝘢𝘵 𝘺𝘰𝘶 𝘤𝘢𝘯 𝘨𝘢𝘪𝘯 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘵𝘩𝘢𝘵... 𝘈𝘶𝘵𝘰𝘮𝘢𝘵𝘪𝘰𝘯 𝘪𝘴 𝘨𝘰𝘪𝘯𝘨 𝘵𝘰 𝘣𝘦 𝘵𝘩𝘦 𝘣𝘪𝘨 𝘨𝘢𝘮𝘦 𝘤𝘩𝘢𝘯𝘨𝘦𝘳 𝘧𝘰𝘳 𝘦𝘷𝘦𝘳𝘺𝘣𝘰𝘥𝘺 𝘪𝘯𝘷𝘰𝘭𝘷𝘦𝘥 𝘪𝘯 𝘵𝘩𝘦 𝘪𝘯𝘥𝘶𝘴𝘵𝘳𝘺." One of the most important points he made was that even with all these technological advancements, underwriting discipline—like balancing coverage and pricing—remains as crucial as ever. AI helps underwriters process massive amounts of data in real-time, allowing them to make smarter, quicker decisions without having to sift through endless paperwork. Rick also shared how real-time data could help smooth out the insurance market's traditionally cyclical nature, offering more stability for insurers and policyholders. It’s clear that enterprise AI isn’t just a tool for speeding things up—it’s a complete game changer for underwriting and decision-making in the insurance world. #InsuranceIntake #DataDecisioning #InsuranceAI

🚀 Attending InsureTech Connect Vegas? Join us on October 16th for an insightful session on how AI-driven decisioning is reshaping the insurance industry. Tom Wilde and Bill Devine will share how AI is enhancing key areas like underwriting, claims management, and policyholder interactions at the Meet-up Series Zone (Expo Floor). If you can’t make it, come see us at booth #1750. Explore real-world examples of how AI is improving outcomes across the policy lifecycle and see the practical impact it’s having on efficiency and customer experiences. We’re excited to be part of this journey into the future of insurance. Register here: https://lnkd.in/gF5q-wG2 #InsureTechVegas #AIDriven #DigitalTransformation 

The latest 𝘎𝘢𝘳𝘵𝘯𝘦𝘳® 𝘙𝘦𝘱𝘰𝘳𝘵: 2024 𝘔𝘢𝘳𝘬𝘦𝘵 𝘎𝘶𝘪𝘥𝘦 𝘧𝘰𝘳 𝘐𝘯𝘵𝘦𝘭𝘭𝘪𝘨𝘦𝘯𝘵 𝘋𝘰𝘤𝘶𝘮𝘦𝘯𝘵 𝘗𝘳𝘰𝘤𝘦𝘴𝘴𝘪𝘯𝘨 𝘚𝘰𝘭𝘶𝘵𝘪𝘰𝘯𝘴 recognizes Indico Data as a critical player in the Intelligent Document Processing market. What sets Indico Data apart? Unlike competitors focusing on narrow use cases, Indico Data’s platform handles all structured, semi-structured, and unstructured data across the insurance value chain. With a decade of expertise in AI and leading in trends like generative AI and SaaS migration, we deliver scalable solutions that solve complex challenges, ensuring deeper insights and faster decision-making. Indico Data is your trusted partner for real results, not just a point solution. 💡 https://lnkd.in/d2rbQgfM #DigitalTransformation #IntelligentDocumentProcessing #DataDecisioning

We’re excited to announce the formation of our 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗔𝗱𝘃𝗶𝘀𝗼𝗿 𝗡𝗲𝘁𝘄𝗼𝗿𝗸! 👥 The newly established advisor network comprises industry veterans with extensive experience and deep insights into the insurance industry. Their insights will be instrumental in helping us enhance our AI-driven solutions, reduce decision risk, and improve operational efficiency for insurance providers. In addition to forming the Insurance Industry Advisor Network, we are pleased to announce the appointment of David Laker, Chief Commercial Officer of Guidewire Software, as a Board Observer as part of Guidewire’s recent equity investment in Indico. David’s experience in scaling businesses and his deep understanding of the insurance technology landscape will be invaluable as we continue our growth trajectory. #InsuranceTech #InsuranceIntake #DigitalTransformation

In this special 𝘉𝘦𝘴𝘵 𝘰𝘧 2024 𝘴𝘰 𝘧𝘢𝘳 episode 8 of Unstructured Unlocked, we highlight some of the standout moments from the first half of the year. We had the privilege of hosting incredible guests, including Mandy Hunt ACII of RSA, Arthur Borden of Everest, Charles Morris of Microsoft, Robin Merttens of InsTech, Joe Curry of Apollo ibott 1971, and Alex Taylor of QBE Ventures. These thought leaders shared their insights on how enterprise AI is revolutionizing the insurance industry—from improving underwriting accuracy to transforming risk management with predictive analytics. Their forward-thinking perspectives showcase how AI is helping companies make smarter, quicker decisions across the board. As we celebrate the best insights of 2024 so far, it’s clear that AI has become a must-have for insurers looking to stay ahead. 🌟 Want more insights? Tune in and catch up on all the best moments from 2024 so far! https://lnkd.in/dWsbERW8 #AI #DigitalTransformation #InsuranceTech

📅𝗗𝗼𝗻’𝘁 𝗺𝗶𝘀𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗯𝗶𝗻𝗮𝗿 featuring an exciting product announcement that will reshape how insurers handle unstructured data and complex decisioning. Be among the first to explore how AI can transform risk selection and fuel premium growth. 𝗞𝗲𝘆 𝘁𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀: • Discover how AI can streamline workflows and improve decision accuracy • Learn how automation reduces manual tasks in underwriting  • Be the first to hear our major AI product reveal 𝗪𝗵𝗼 𝘀𝗵𝗼𝘂𝗹𝗱 𝗮𝘁𝘁𝗲𝗻𝗱: Underwriting, risk management, and tech professionals eager to modernize processes. 🔗Sign up now and stay ahead of the curve!  https://lnkd.in/gbkTSdYZ #UnderwritingClearance #Insurance #UnderwritingTriage

📢 In our latest Unstructured Unlocked, we sit down with Rick Russell, retired VP of Underwriting at Chubb and former Underwriting Director at Nationwide, to explore how AI is revolutionizing the insurance industry. With decades of insight, Rick shares how timeless principles like underwriting discipline and integrity still stand strong—even as AI reshapes decision-making. He also tackles the growing challenge of climate risks, stating, “Underwriting truly is an art... sometimes you just feel when something’s off.” AI may be a game-changer, but human expertise? Absolutely essential for navigating risk. Tune in now to discover how the future of insurance blends the best of human judgment and AI innovation: https://lnkd.in/dRCAcBAu #InsureTech #Underwriting #AI

Businesses are flooded with data from every direction, but it's only useful when turned into actionable insights. Enterprise AI helps unlock this potential by processing data and revealing key trends, driving smarter decisions. Using AI to process and analyze data allows businesses to: 🔹 Make faster, more accurate decisions by providing real-time insights and reducing the lag from manual data analysis. 🔹 Reduce human error with improved data accuracy, helping to avoid costly mistakes and ensure compliance. 🔹 Uncover hidden patterns that would otherwise go unnoticed, offering a competitive edge in predicting customer behavior or optimizing operations. By turning vast amounts of data into insights, AI helps businesses make smarter, faster decisions, leading to improved efficiency and growth. #DataDecisioning #AI #InsuranceAI

Attending ITC? Explore the transformative impact of AI-enhanced decisioning on the insurance industry. On October 16th, Tom Wilde and Bill Devine will share how AI-enhanced decisioning is improving key areas like underwriting, claims, and policyholder interactions at the Meet-up Series Zone (Expo Floor). Attendees will hear real-world examples and gain insights into the practical applications and future potential of AI across the policy lifecycle. Looking forward to exploring how these innovations are driving better outcomes for everyone involved. ✨ https://lnkd.in/gF5q-wG2 #ITCVegas2024 #InsureTech #InsureTechConnect

“The way we’ve traditionally done insurance... is based on actuarial tables and historical loss data...,” shares Kelly Cusick, Managing Director at Deloitte in season 2, episode 3 of Unstructured Unlocked. Is there a new way to underwrite cyber risk? 🎧 Listen to the full episode: https://lnkd.in/gMU9Ugcg #IntelligentDocumentProcessing #InsuranceIntake.