Automated policy checking

E&O Risks and Automated Policy Checking

Introduction Insurance agencies, especially smaller ones are finding themselves facing with Errors & Omissions (E&O) situations. With an average severity of $40,000+ for all E&O claims, the average homeowners is around $35,000, while for personal auto it is around $22,000. The legal actions relate to dereliction of professional duty, ranging from inadequate coverage, misrepresentation, delays …

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Exdion Policy Check : A Smart Remedy for traditional Policy Checking Process

Traditional Policy Checking methods in vogue today are manual, time-consuming and prone to errors. Outsourcing the process to an offshore company for cost arbitrage has not eliminated the challenges on this front. CSRs manually compare and review policies, proposals, schedules and quotes. On an average a CSR requires around 30 minutes to check a small …

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