AI-first digital engineering company Quantiphi has introduced its AI-led Intelligent Underwriting Platform (AiUP) on Google Cloud.
AiUP merges the expertise of Quantiphi’s intelligent document processing platform, Dociphi; Unqork’s codeless platform; and Google Cloud’s services (Document Al) and infrastructure.
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This platform will now appear as part of Google Cloud’s industry value network (IVN) solutions.
IVNs merge the capabilities and solutions that aid clients in addressing regular challenges in the industry.
Merging Quantiphi, Unqork and Google Cloud’s expertise through AiUP aids digitisation and automation of the insurance underwriting process.
This approach helps insurers substantially cut the time required to conclude the complete underwriting process.
Quantiphi financial services and insurance global head Bhaskar Kalita said: “Our vision for AiUP is to be the end-to-end platform helping carriers automate the complex underwriting process in commercial insurance. Thereby improving application processing times, the user experience for brokers/agents and ultimately improving quote-to-bind ratios.”
Unqork global head of insurance Farooq Sheikh said: “Unqork is excited to partner with Quantiphi and Google Cloud to showcase the power of codeless technology to transform the insurance industry.
“Through AiUP, insurers will be able to accelerate and digitize the underwriting process and enable accelerated servicing for their customers, for an improved and more enjoyable insurer and customer experience.”
In July 2022, Quantiphi formed a strategic deal with Unqork to launch the latter’s Dociphi, a third-party publisher programme that simplifies workflows for the insurance and financial services sector.
