LineSlip uses AI to extract key policy information. Credit: Campaign Creators on Unsplash.

Riskonnect, an integrated risk management (IRM) solutions provider, has formed a new partnership with LineSlip Solutions for better insurance programme management.

LineSlip is an insurtech that provides solutions to extract and manage insurance programme data.

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As part of the collaboration, LineSlip’s artificial intelligence (AI) technology is now integrated into Riskonnect’s Risk Management Information System (RMIS) solution.

LineSlip reads, extracts, and organises key policy information without manual input.

The data is then converted into data-rich insurance intelligence dashboards, giving risk managers access to information, including coverages, rates, premiums and carrier details.

The automated data extraction is said to eliminate paper-based processes, enable faster reporting, and reduce errors among others.

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Riskonnect senior vice president of product management Kathryn Carlson said: “Insurance program management is a critical component of an organization’s risk operations, but it is often riddled with burdensome manual work and paper-based processes.

“Our partnership with LineSlip addresses this pain point with the automatic ingestion of insurance program data into the Riskonnect platform. Our customers now have access to critical insurance intelligence in real-time and at their fingertips, enabling strategic insurance program management.”

LineSlip Solutions CEO Leo Bernstein said: “We are thrilled to partner with Riskonnect and provide more organisations with easy access to their insurance program data.

“The ability to quickly tap into insurance intelligence and make informed and confident decisions is critical to this strategic leadership. Our alliance with Riskonnect enables this level of visibility and agility.”