Intellect Design Arena, InsureMO partner to offer AI-enabled underwriting
Indian fintech company Intellect Design Arena has entered into a partnership with Singapore-based insurance middle office provider InsureMO to provide a fully integrated artificial intelligence (AI) enabled underwriting and policy admin technology suite.
The underwriting solution is intended for commercial lines carriers and managing general agents (MGAs) planning to replace their existing policy admin system or expedite their digital transformation by applying automated underwriting with integrated policy admin services.
Intellect Design Arena is taking part in the collaboration through its IntellectAI suite of AI products.
To offer the underwriting solution, the partnership will combine the insurance APIs/microservices of InsureMO with Intellect Design Arena’s Xponent Underwriter workbench.
Intellect Xponent is a property and casualty (P&C) underwriting platform, which through the use of InsureMO solution, now offers complete quote and policy lifecycle management, including ISO-based rating.
Chuck Gomez — InsureMO North America head said: “IntellectAI is wellknown in the industry as an underwriting technology vendor with a very happy client base for the quality products and service that they provide to the insurance industry.
“Integrating InsureMO’s cloud-native policy admin technology into IntellectAI’s underwriting platform will enable their client base to leverage the most modern and high-performing policy solution on the market.”
InsureMO, which is a cloud-native insurance middle office platform serving insurers, agents, brokers, channels, insurtechs and start-ups, is said to facilitate use cases for any channel and product.
Sandeep Haridas — IntellectAI Chief Strategy Officer said: “Intellect’s Xponent is capable of driving underwriting sophistication at any carrier or MGA that uses any off-theshelf PAS system. But several of our prospects and existing customers asked us to extend Xponent’s capabilities to include quote and policy lifecycle maintenance.
“InsureMO was a natural choice and an amazing technology fit for us. Their cloud-native, API-first approach resonated with how we build our products. With InsureMO, the number of pre-built capabilities in Xponent jumps from 97 to more than 120!”