FurtherAI

Go Further and cover more with AI assistants

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Description

FurtherAI offers a specialized artificial intelligence platform tailored for the commercial insurance sector. It addresses longstanding industry challenges such as increasing submission volumes, declining loss ratios, and a shrinking talent pool by providing AI assistants that automate complex document processing and seamlessly integrate disjointed systems. This enables insurance companies to manage their operations more effectively without needing to expand their workforce.

The platform's AI assistant is purpose-built to transform underwriting, claims, and compliance processes at scale. By automating tedious tasks like policy comparison, submission processing, and underwriting audits, FurtherAI empowers insurance teams to focus on strategic activities such as risk evaluation and business development. This leads to significantly faster operations, improved accuracy in decision-making, and a substantial return on investment through enhanced efficiency and compliance.

Key Features

Policy Comparison: AI-powered comparisons instantly spot discrepancies, reduce manual effort, and drive efficiency.
Underwriting Audit Automation: Automates data extraction and policy reviews to boost compliance accuracy and speed decision-making.
Intelligent Submission Processing: Extracts key details from submissions, runs eligibility checks, and flags inconsistencies for up to 30x faster client intake.
SOV Data Extraction & Mapping: Automates the extraction and structuring of data from Statement of Values (SOV) documents.
Loss Run Processing Automation: Automates the analysis of historical loss data for improved risk assessment.
Automated Web Research: Conducts targeted web research to gather relevant information for underwriting and claims.
FNOL (First Notice of Loss) Automation: Streamlines the FNOL process by automatically capturing and processing initial claim information.
Automated Policy Summarization: Generates concise and accurate summaries of lengthy insurance policies.
Bind Order Verification: Automates the verification of bind order details against policy and underwriting guidelines.
Underwriting Authority Check: Automatically checks if underwriting decisions align with granted authority levels.

Use Cases

Automating commercial insurance submissions processing for faster client intake.
Reducing underwriting audit time by automating data extraction and policy reviews.
Performing instant and accurate policy comparisons to identify discrepancies.
Optimizing claims validation and compliance check workflows.
Streamlining First Notice of Loss (FNOL) intake and initial processing.
Generating quick policy summaries for efficient review.
Verifying bind order details for accuracy and compliance.
Conducting authority checks in underwriting processes.

Frequently Asked Questions

What capabilities does the FurtherAI AI Assistant offer?

The FurtherAI AI Assistant can compare documents, automate workflows, read insurance policies, extract data from documents like PDFs and SOVs, trigger flows based on email or messages, and make phone calls or send/receive messages.

How does FurtherAI ensure the security of client data?

FurtherAI provides enterprise-grade security adhering to industry best practices and compliance standards. Client prompts and data are never used for training models, firm-specific data storage is completely isolated, and systems undergo regular audits by third-party security specialists.