Across America Insurance Services Leverages IntellectAI's Purple Fabric Powered Solutions to Enhance Underwriting Accuracy

IntellectAI, an Insurtech Transformation Partner with end-to-end, AI and data-powered underwriting solutions from Intellect Design Arena, announced a partnership with Across America Insurance Services to drive underwriting accuracy and efficiency with loss run extraction and analysis solutions. The wholesale insurance provider is IntellectAI's most recent customer for Magic Submission and Xponent, built on IntellectAI's proprietary Purple Fabric platform.

Powered by Purple Fabric, Intellect's AI platform, Magic Submission is an ingestion and extraction tool designed to streamline insurance submissions, enhancing operational efficiency and accuracy for carriers, brokers, agents and MGAs. The company's AI-powered underwriting solution, Xponent, isdesigned to boost underwriter efficiency and consistency for commercial and specialty insurers, enabling faster and more accurate underwriting outcomes.

"I believe automation will help underwriters reduce administrative tasks and focus on themost important aspect of insurance, the people on the other side of the policy," said Across America CEO Harish Kapur. "IntellectAI is helping us do so by providing an accurate and clear analysis of loss run data with Magic Submission and Xponent to help our underwriters make better-informed decisions. We look forward to a successful relationship with IntellectAI, progressing the insurance space toward a more efficient future."

Across America is a wholesale insurance provider based in Riverside, California, serving the specific needs of the transportation industry. Founded in 2015, Across America Insurance was structured to help agencies grow profitably and sustainably.

The wholesaler said it chose IntellectAI to address its biggest pain point in the underwriting process: processing Loss Runs. With Magic Submission's loss runs extraction technology, powered by GenAI andbuilt on Intellect's Purple Fabric AI platform, Across America can process the thousands of loss runs they receive annually with nearly 100% accuracy. Magic Submission can process these documents in the various formats they are received in a fraction of the current time required. Additionally, using Xponent's dashboards, Across America's underwriters can visualise and analyse this loss data, enabling faster and smarter underwriting decisions.

Commenting about the new win, Banesh Prabhu, CEO, IntellectAI, said, "We are thrilled to welcome Across America as a new customer to Magic Submission and Xponent. As a niche MGA, they are an example of the organisations for whom we are designing our products. Our mission is to revolutionise the commercial insurance industry, and partnering with forward-thinking MGAs like Across America Insurance Services is a significant step toward achieving this goal."

Shares of Intellect Design Arena Limited was last trading in BSE at Rs. 655.85 as compared to the previous close of Rs. 669.90. The total number of shares traded during the day was 23870 in over 1549 trades.

The stock hit an intraday high of Rs. 681.75 and intraday low of 650.00. The net turnover during the day was Rs. 15935392.00.

Source : Equity Bulls

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