CogniSure AI, a leading provider of cutting-edge insurance document extraction and analytics solutions, has joined forces with Federato, the pioneering RiskOps underwriting platform for Property & Casualty (P&C) and Specialty insurance.
This strategic partnership aims to drive enhanced underwriting precision and productivity for commercial lines insurers.
CogniSure’s advanced Submission Insights platform specialises in extracting invaluable insights from unstructured documents, including loss runs, applications, schedules, and SOVs, with unparalleled real-time accuracy.
These enriched submission data are seamlessly integrated into Federato’s RiskOps underwriting platform, where they are leveraged within the context of an insurer’s specific underwriting rules, risk appetite, and strategy. This collaboration empowers underwriters to make faster and more informed risk selection decisions with ease.
Federato and Cognisure share common goal
Sai Raman, Founder and CEO of CogniSure, commented, “CogniSure and Federato share a common goal of delivering meaningful innovation and tangible value to insurers. We are highly impressed by Federato’s profound understanding of the day-to-day challenges faced by underwriters when it comes to accessing the right data at the right time. Additionally, we recognise the rapid deployment, configuration, and integration capabilities of their platform, even within complex environments. We are thrilled to collaborate with Federato to drive superior and efficient underwriting outcomes for our esteemed clients.”
According to reports, the integration between CogniSure and Federato expedites the submission processing and quote generation process for insurers while simultaneously increasing underwriting capacity, productivity, and precision. This integrated offering empowers underwriters to allocate their focus to high-value tasks such as risk analysis, decision-making, client advisory, and expanding their book of business.
Will Ross, CEO and Co-Founder of Federato, expressed, “The integration of Federato’s RiskOps underwriting platform with CogniSure’s Submission Insights platform revolutionises the speed and efficiency of commercial lines submission intake, risk selection, and underwriting processes.”
He added: “This exceptional integrated solution, which offers unparalleled configurability to meet carriers’ unique needs, particularly benefits commercial insurers grappling with high volumes of submissions in the face of a fragmented and complex data landscape.”
Source: Newswire
