Take Control of your Renewal Process.
ExdionEUREKA : Smart BOT, Faster Renewal
Brokers and their clients today are unable to handle the annual renewal process due to the complexity involved, leading to loss of accounts and risk for brokers.
Typical renewal process in commercial lines begins 90-120 days before the renewal date, while for a personal line the process begins 45-60 days before the renewal date.
ExdionEUREKA, a smart Cognitive Science led Insurtech, addresses all challenges and complexities involved in the annual renewal process. It’s a completely automated application that simplifies the process and allows the CSRs to take control of their accounts like never before.
readiness of brokers
How it Works
It automatically extracts information from the database and prefills all existing risks and exposure details using the PRF app.
The CSR reviews the extracted information and sends it to the client to make necessary changes.
All changes made by the client are highlighted and easily trackable by the CSR. It also allows for multi-user changes.
Updated information is uploaded into the AMS automatically and sent to approved brokers for quote.
- Information rests in multiple formats and across multiple departments
- CSR spends at least 90 minutes per policy to collate and upload the data
- The client faces challenges in adding, deleting and modifying exposures. The problem magnifies when there are more people in the process.
- On receiving updates from the client, CSR spends time and effort to track changes made to PRF
- CSR spends at least 60 minutes per policy to track changes, update the information and get quotes
- The to and fro process between the client and CSR is susceptible to errors, including incomplete information, wrong entries, and not meeting deadlines
Uses AI and Cognitive Science to eliminate risk and bust complexity
AMS integrated and creates market ready PR forms with all the required details prefilled
Completely automated application that simplifies the process and allows CS reps to take control of the process more efficiently
Updates renewal exposures in EPIC by cross-filling all modifications made by the client
Helps brokers satisfy their clients by effective information management and keeping their renewal time short and simple