ISi provides automated insurance underwriting solutions that help insurers accelerate quoting, validate risks in real time, automate underwriting approvals, and streamline straight-through policy processing. Built within a fully integrated insurance platform, ISi connects underwriting with policy administration, billing, claims, and accounting workflows.
Object-Oriented, Real-Time Rating
At the core of ISi’s automated insurance underwriting is a highly flexible, table-driven rating engine. Unlike legacy systems’ line-of-business modules, ISi utilizes a flexible data structure that treats every policy as an "insurance object". This architecture empowers your business to price complex risks instantly across virtually any line of insurance without needing structural database changes. Using Real-Time Rating (RTR), ISi integrates directly with third-party comparative raters, allowing your agents to submit data and receive accurate, bindable quotes in seconds.
Intelligent Data Prefill and Third-Party Insights
Automated underwriting systems require pristine data. ISi eliminates blind spots and reduces manual data entry errors by pulling real-time intelligence into the application process. During a quote, ISi's web services automatically retrieve auto and property loss histories, pull relevant reports and records, and verify identity.
ISi also seamlessly integrates with third parties to gain critical property data and property risk scoring. By the time an application is compiled, the risk profile is established with verified data.
Rule-Based Validation and Straight-Through Processing
ISi empowers you to encode specific underwriting guidelines directly into the application's DNA. The system evaluates risk acceptability in real time by checking critical characteristics against your rules, such as the age of a dwelling, vehicle use, proximity to the coast, and prior claim frequency. If a risk falls outside your parameters, the system can automatically trigger validation warnings, require an underwriter's review, or reject the application outright.
For acceptable risks, ISi facilitates a frictionless "straight-through" processing experience. Built-in e-signature capabilities allow agents to send secure links directly to an applicant's phone or email, requiring no account creation or login for the insured. Once the documents are signed, fully integrated payment gateways for ACH, EFT, and Credit Card transactions collect the deposit, binding and issuing policies automatically.
The Automated Underwriting Workbench
When a policy requires human attention, ISi orchestrates the workflow via its integrated underwriter workbench. The system automatically generates specific tasks in a diary for issues like an automated endorsement error or missing critical data. Using sophisticated routing like round-robin and weighted round-robin assignments, ISi ensures these tasks flow directly into the correct queue. Underwriters can review pre-gathered third-party data, approve changes, and track all historical activity in one centralized hub, dramatically reducing administrative overhead and keeping policies moving.
Future-Proofing with AI and Machine Learning
ISi is not just automated; it features core support for advanced artificial intelligence and machine learning platforms. When a new transaction occurs or a photo is attached to a quote, ISi can automatically push a data packet and file links directly to AI. Following its analysis, the AI can trigger automated responses, like adding an underwriting task, requesting more information from the insured or even executing a policy endorsement based on the AI's findings.
In conclusion, ISi’s automated underwriting solution can
reduce underwriting turnaround time
increase quote-to-bind ratios
reduce manual review workloads
improve data accuracy, and
accelerate policy issuance.
Book a demo to see how ISi can streamline underwriting workflows for your organization.