https://store-images.s-microsoft.com/image/apps.61239.a37ead77-234e-4038-a82d-8b7ffc7027a3.20aaa32c-1f55-4ad9-bf32-3eb5b94a4122.53be65da-13b2-4055-b581-9974716c06b2
Revolutionizing underwriting with GenAI
EY Global
Revolutionizing underwriting with GenAI
EY Global
Revolutionizing underwriting with GenAI
EY Global
Driving efficiency and accuracy for the modern underwriting organization
Solution overview
Our approach to overcoming underwriting challenges leverages generative AI (GenAI) to:
•Extract and organize information from
multiple document formats (e.g., ACORD forms, emails, loss runs) into a
consumable structure.
•Enable an underwriter to identify and
fill in missing critical information
during the submission process.
•Provide underwriters with a
conversational chatbot-enabled cognitive Q&A platform,
delivering valuable guidance and answers to their queries on individual risks,
appetite and authority.
•Integrate with predictive
AI/ML models for enhanced risk assessment and seamless
straight-through processing (STP).
Solution benefits
•Enhanced decision-making through GenAI-derived
insights for better risk assessment and faster
premium calculation.
•Efficiency boost of 30%-40%
via automation of routine underwriting tasks, providing increased bandwidth.
•Significant cost
savings through automation and improved accuracy.
•Reduction in manual underwriting
assessments, leading to further efficiency.
•Reduction in out-of-appetite business
written due to ability to effectively manage appetite and
authority.
https://store-images.s-microsoft.com/image/apps.38222.a37ead77-234e-4038-a82d-8b7ffc7027a3.20aaa32c-1f55-4ad9-bf32-3eb5b94a4122.72184408-8b9d-43eb-adc4-ac3313291ce3
https://store-images.s-microsoft.com/image/apps.38222.a37ead77-234e-4038-a82d-8b7ffc7027a3.20aaa32c-1f55-4ad9-bf32-3eb5b94a4122.72184408-8b9d-43eb-adc4-ac3313291ce3
https://store-images.s-microsoft.com/image/apps.33546.a37ead77-234e-4038-a82d-8b7ffc7027a3.20aaa32c-1f55-4ad9-bf32-3eb5b94a4122.b8950eec-6fbf-4d59-8788-ca51ded19a71
https://store-images.s-microsoft.com/image/apps.43537.a37ead77-234e-4038-a82d-8b7ffc7027a3.20aaa32c-1f55-4ad9-bf32-3eb5b94a4122.1366afe1-f2ad-4148-9ba3-1dbd7420d65a
https://store-images.s-microsoft.com/image/apps.19071.a37ead77-234e-4038-a82d-8b7ffc7027a3.20aaa32c-1f55-4ad9-bf32-3eb5b94a4122.36a813e1-f68c-4c9e-9b3e-622cdeb5e392
https://store-images.s-microsoft.com/image/apps.24841.a37ead77-234e-4038-a82d-8b7ffc7027a3.20aaa32c-1f55-4ad9-bf32-3eb5b94a4122.aa4a4b05-69cd-4595-8d55-c9c0dc125107