Insurity Partners with OIP Robotics to Transform Data Processing Through AI

The partnership pairs enterprise-ready AI with state-of-the-art SaaS solutions, allowing for seamless data flow and automation, enhanced operational efficiency, and reduced costs for insurance organizations.

(Image credit: Pavel Danilyuk/Pexels.)

Insurity (Hartford), a provider of cloud software for insurance carriers, brokers, and MGAs, today announced that it has partnered with OIP Robotics (OIPR; Belgrade, Serbia/Henderson, Nev.), an InsurTech data and software solutions lab, to transform data processing within property/casualty insurance. This collaboration has the potential to bring unparalleled automation efficiency to policy lifecycle management and transform traditional data processing methods, bringing increased operational efficiencies and reduced costs to insurance organizations, according to an Insurity statement.

Sylvester Mathis, Chief Insurance Officer, Insurity.

By integrating OIPR’s AI capabilities with Insurity’s advanced SaaS offerings, Insurity customers get the benefit of streamlined processing using a single document entry point feeding Insurity’s entire product suite, according to the Insurity statement. The partnership aims to maximize automation and reusability and deliver efficiency that enhances operational processes and significantly lowers the risk of claims related to data entry errors, thereby safeguarding customer interests. Submissions that previously took hours are completed in minutes, reducing data entry errors from a 4 percent error ratio to less than 1 percent, the statement asserts.

The Insurity/OIPR partnership addresses the insurance industry’s long-standing challenges with the absence of standardization and unstructured documentation. By offering a solution that seamlessly integrates AI into SaaS, Insurity and OIPR say they are breaking down the barriers of costly complexity typically associated with AI implementation in the insurance sector. This enables a smoother and more economically favorable adoption of AI technologies, allowing insurers to focus more on their core functions, such as underwriting, risk management, and claims handling, Insurity asserts.

Low-Touch, Seamless Data Flow

Mladen Subasic, Chief Product Officer, OIP Robotics.

“To bring true automation to insurance, it’s imperative to pair up state-of-the-art, SaaS-deployed core systems with new and emerging AI capabilities, precisely the aim of the OIPR and Insurity partnership,” comments Mladen Subasic, Chief Product Officer, OIP Robotics. “We will bring low-touch, seamless data flow to underwriting, claims, and policy support teams, shifting their focus to what matters—building relationships with customers and growing a profitable book of business. The joint efforts of OIPR and Insurity aim to remove unstructured and insufficient data, disparate tools, and reliance on legacy systems from the equation. We are thrilled about this partnership and excited to work alongside an innovation-driven company such as Insurity.”

“This partnership unites OIPR’s unique AI approach with Insurity’s comprehensive cloud-native offerings,” says Sylvester Mathis, Chief Insurance Officer, Insurity. “The collaboration is expected to bring increased automation levels to our shared market and combine ideas, technology, and perspectives of both organizations, fostering innovation and setting new industry benchmarks.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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