IntellectAI Partners Confianza improving Underwriting Solutions

IntellectAI, the Insurtech division of Intellect Design Arena specializing in AI and data-powered underwriting solutions, has partnered with Confianza, an Insurtech company which is focusing on improving risk selection and loss ratios for property and casualty (P&C) insurers. This partnership might simplify the submission and quoting processes for insurers.

Integration of Confianza’s Risk-Scoring Abilities  

With this collaboration, Confianza’s predictions and risk scores are included in IntellectAI’s digital underwriting platform. This improvement provides carriers and managing general agents (MGAs) with tools to estimate and segment risk earlier and with speed.  

Key features of Confianza’s solution include:  

- Detailed insights into the business operations and risk profile.  
- Profiling of business principals and consumers for comprehensive risk assessment.  
- Improved data-driven decision-making for underwriters.  

The AI-Powered Underwriting Ecosystem from IntellectAI

For commercial, specialty, and excess and surplus (E&S) lines, IntellectAI provides an AI-powered underwriting platform that facilitates risk assessment and decision-making. The platform has the following features:

• Triage, onboarding, and risk clearance procedures.
• Data and predictive scores, such as those offered by Confianza, are integrated.

From quote submission, workflow enhancements enable quicker, better-informed decision-making.

Advantages for the Insurance Sector

Underwriters receive actionable insights from the incorporation of Confianza's data into IntellectAI's ecosystem, which enhances the precision of risk assessment. Benefits include: -

• Increasing insurers' time to market.
• Better experiences for clients and brokers.
• Improved underwriting results are the result of more knowledgeable risk selection.

In order to solve important issues facing the insurance industry, our collaboration will make use of data and technology, encouraging creativity and improving operational effectiveness.

Discussing the partnership, Banesh Prabhu, CEO of IntellectAI, stated, “We are committed to reshaping underwriting processes within the insurance sector. Our collaboration with Confianza and incorporating their targeted risk selection and loss prediction analytics into our ecosystem is a significant step in realizing this objective.”

Prabhu continued, “This partnership empowers insurers with a robust toolset to comprehend and oversee the risks associated with businesses and consumers, enabling them to elevate their decision-making capabilities and strengthen their competitive standing in the market.”

“We are incredibly excited to partner with IntellectAI in support of their mission to “digitize” risk by integrating data points and analytical predictions into their intake process, which will ultimately help their clients automate underwriter review and prioritize submissions that are within their risk appetite,” said John Petricelli, Chief Data Officer at Confianza Inc. “We believe this partnership is another formidable movement toward helping insurers achieve profitability and growth by strategically using technology to better segment and categorize risk in the small commercial and personal lines underwriting space.”

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