The partnership is calculated to accelerate the application of AI to insurance processes from the prevalent proof-of-concept approach to more industrialized and repeatable examples.
The insurer will deploy the big data and AI-based underwriting workstation to improve underwriting efficiency and boost profitability.
The expansion of the relationship builds on development of a private customer portal and new native mobile app that have resulted in significantly increased digital customer interaction.
The new version includes 100 new features and 700 new capabilities to accelerate insurers’ digital transformation efforts.
The company will use the funding round, led by Tola Capital, to scale adoption of its insurance management platform, data-driven service offering, and proprietary insurance policies.
The cloud-hosted workers’ compensation core processing solution will increase the insurer’s operational flexibility and support the scaling of products on demand.
The enhanced suite enables instant claims payments, saving time for agents and insureds, and features rules-driven automation that identifies customers’ next best actions.
Using OnBase to drive an enterprise approach to information management, DBI has streamlined processes, improved service, lowered cost and gained competitive advantage.
By replacing its legacy policy system, the insurer is now able to provide its agents with a solution that is streamlined, accurate, more integrated and easier-to-use.
Agencies members will gain access to Indio’s database of over 4,500 digitally enhanced “smart” insurance applications, the IndioSign e-signature solution, and secure document storage.