Selectsys buys AI-based insurance management platform Expert Insured 

Insurtech company Selectsys has acquired Expert Insured, an insurance management system driven by AI technology, for an undisclosed sum.  

Expert Insured serves managing general agents (MGAs), wholesalers and carriers. 

The company’s purchase is expected to reinforce Selectsys’ foothold as a “full-service provider”, enabling it to integrate business process outsourcing (BPO), custom technology and policy management services under a single brand. 

Expert Insured utilises AI to improve underwriting and policy management by automating routine tasks. 

The system’s AI Gatekeeping and submission extraction features are designed to increase both accuracy and efficiency. 

Additionally, the integration with Selectsys’ BPO services offers MGAs and wholesalers the opportunity to scale quickly and optimise their resources. 

The platform provided by Expert Insured streamlines policy administration tasks such as cancellations, endorsements, issuance, quotes, renewals and submissions. It automates workflows, assigns tasks and facilitates team collaboration.  

Expert Insured also incorporates accounting capabilities to manage invoices, commissions, taxes and billing.  

Its AI-driven features extend to submission handling, rating engines, claims reporting and carrier integrations, offering a solution for operational control. 

Expert Insured has also hired Spencer McDonald as it new CEO.  

With a background at McKinsey & Company, McDonald has expertise in AI-powered insurtech solutions and experience in delivering AI/genAI solutions to insurance clients. 

Selectsys CEO Srinu Kalyan said: “With Expert Insured, Selectsys is now a full-service provider, combining technology, automation and resourcing to meet every operational need.” 

McDonald added: “I am excited to lead Expert Insured into its next phase. Together with Selectsys, we are redefining efficiency for MGAs and wholesalers.”