Loss Runs Processing

Receive

New loss run reports are submitted directly to a Digital Coworker for scanning, classification, analysis and key data extraction.

Validate

Traditionally, the underwriting team scours several documents and data sources – or is forced to call out to external data sources - to validate the loss run reports. Then, identifies key information and manually enters the data into the underwriting/policy system.

In this future state, the Digital Coworker ingests the loss run reports and third-party data from a dedicated location and uses InsurGPT^TM to first classify each document type, then extract key information (such as company name, previous policy number, amounts paid, date of previous claim etc). Finally, The Digital Coworker then transacts all the data into the underwriting/policy system.

Submit

The Digital Coworker notifies the underwriting team, via the Roots Cockpit, that a loss run is ready for review.

The underwriting assistant uses the Roots Cockpit to communicate with and assist the Digital Coworker in finalizing the loss run review package.

Finally, when the loss run package is complete, the underwriter is notified, reviews the package, typically part of a wider submission.