RLI partners with insurtech DataCubes to optimise underwriting process
US specialty insurer RLI has partnered with insurtech start-up DataCubes to optimise its underwriting process.
DataCubes is a data science platform for commercial underwriting serving the property/casualty (P&C) insurance carriers. Its machine learning platform automatically digitises insurance submission documents (including ACORD forms and loss runs), which can be hundreds of pages of structured and unstructured data that previously took days or weeks to process.
Using the insurtech’s artificial intelligence-powered intake, risk analysis and scoring tools, RLI is looking to automate intake forms and use intelligence gathering to replace certain manual processes and provide agents with faster, more efficient quotes.
“We aim to deliver the best products, service and experience possible to our customers,” said Carol Denzer, vice president, RLI small commercial lines. “We’ve partnered with DataCubes to explore how we might better leverage technology to enhance our delivery of products and services to our small producers and policyholders.”
Kuldeep Malik, DataCubes co-founder and CEO, said: “Data science has great potential to improve commercial underwriting and it is our pleasure to provide the technology required to help RLI successfully explore new approaches.”
