Adsensa Launches Business Application for North American P&C Market
Staff Writer | September 13, 2016
Adsensa announces the introduction of its Adsensa Submission Analysis offering, specifically designed for the North American P&C insurance market.
Adsensa Submission Analysis is designed to assist commercial and specialty lines insurers in transforming the underwriting process by automating much of the effort required to make sense of submissions. While the Adsensa solution can be of value to any insurer looking to modernize and transform underwriting, Adsensa’s current target North American market is specialty lines insurers and mid-size commercial lines insurers.
Once a new submission hits an insurer’s inbox, Adsensa extracts, organizes, and analyzes key commercial and specialty lines submission data. By capturing data early in the process, insurers are able to reduce manual data entry, the errors that come with it, and more quickly and easily assess risk appetite; optimizing underwriters’ time and enabling them to focus their expertise on high value risk analysis and decision making.
“We are excited to formally introduce our Adsensa Submission Analysis for the North American market,” says Jeffrey Heine, Adsensa’s vice president, global sales and marketing. “While we have had a presence in North America since 2012 and have a number of North American customers, we intentionally kept a low profile to invest the time and effort to fully understand this insurance market segment, its unique challenges, and to develop solutions specific to its needs.”
“Before launching our Contract Certainty offering in 2007, we took the same pragmatic approach to first study the Lloyd’s market before development and introduction of our solution. Doing our homework upfront has served Adsensa and our UK customers well. With our North American offering now formally launched, we look forward to expanding our market footprint among the region’s P&C insurers and are already ramping up our North American operation based in Chicago.”
Enhancements developed specifically for the North American version of the Adsensa Submission Analysis software include: ability to intake the entire submission from any number of sources including agency management systems, portals, and email; and support for a wide-range of submission formats, such as ACORD forms, carrier forms, and supplemental attachments (including PDFs).
“The Adsensa value proposition is an attractive one for commercial lines insurers who continue to be challenged with the complexity of capturing and analyzing pdf and email submissions to improve the timeliness of risk selection and pricing,” says Deb Smallwood, founder of Strategy Meets Action. “Being able to simplify and make sense of submissions and all the attachments, enables faster informed decisions earlier in the process of risk appetite and risk analysis.”
A sampling of the benefits insurers can anticipate from the Adsensa Submission Analysis offering include:
- Shorten the time to quote – provide automated support to analyze, extract, and organize submission data most critical to the intake process.
- Write the best fit business – easily identify submissions that best fit the insurer’s risk appetite, while avoiding submissions that do not.
- Capture data, regardless of format – automatically extract more of the relevant data from a variety of submission formats, including: email, Word, PDF, images, spreadsheets, ACORD forms, and carrier and broker forms.
- Gain access to a library of commons forms – utilize an extensive library of forms managed by Adsensa and updated as new industry forms are introduced.
- Leverage intelligent data prep for use case – establish data capture rules across the entire submission to extract key attributes to pre-populate systems that drive rating, pricing, quotes, etc.
- Create a trusted audit trail – track all actions in the submission analysis process, from capture to output, and use to support reporting and guide future decisions including renewals.
- Insurtech Landscape 2019: Top 5 Takeaways
- Grinnell Mutual Tackles Massive Transformation -- in Stride
- A Candid Conversation with Paul Mang
- SageSure Insurance Managers Improved Competitiveness by Consolidating Payments to a Single Digital Platform
- Digital Does Matter in Insurance-- And Insurers are Missing the Mark
- The 22nd-Century Insurer: Taking a Cloud-First IT Approach
- The September/October 2019 issue of ITA PRO magazine is now available in digital format here:
- ITA Pro Magazine May/June 2019
- Spotlight on the 2019 IASA Conference
- ValueMomentum Selects Erie as Site of Regional Development Center
- Capgemini and Majesco Become Alliance Partners
- Electronic Chat with Dr. Dan Shoham
- Electronic Chat with Todd Greenbaum
- Martha Notaras: The “Outsider” with an Amazing Inside View
- Electronic Chat with Larissa Tosch
- Martha Notaras Will Join ITA LIVE 2019 as a Keynote Speaker
- Five Things to Consider When Evaluating Your Cyber Risk
- ITA Pro Magazine, January/February 2019
- Synergy Between Insurers' IT and Analytics Teams Key to Operationalizing Insights, Says Novarica
- Major Ransomware Attack Could Hit U.S. with $89B In Economic Damages
- ITA Announces 1st of Three Keynote Speakers at ITA LIVE 2019
- Electronic Chat with Jeroen Morrenhof
- Legacy Systems Are Dead. Really? Don't Count On It.
- Now Accepting Nominations for the 2019 ITA Bridge Awards
- It's time to register for ITA LIVE!
- Registration is Now Open for ITA LIVE 2019!
- What to Expect from a Digital Experience Platform Implementation
- ITA Pro Magazine September Edition is Now Available
- It's National IT Professionals Day
- Save the Date for ITA-LIVE 2019
- OneShield Software and UrbanStat Work Together to Improve Real-Time Analytics and Risk Decision-Making
- ITA LIVE 2019 - SAVE THE DATE!
- Insurance Technology Association Announces New Editor-in-Chief
- August 2018 Edition ITA Pro Magazine is Now Available
- Enterprise Architecture in an Agile World
- Top 10 Tips for Securing Your Mobile Devices and Sensitive Client Data
- Industry Insight: 4 Global Insurance Trends in Digital, Data, Content Services and Security
- Diving Deeper into Prioritizing Your Strategic Digital investments
- Why Content Rules
- How Mass Personalization Will Open the Small Business Benefits Market
- At Year End 2017, Will Your Organization Be Protected from Cyber Risks?
- Do Insurance Bots Dream of Mitigating Risk?
- Conditioned to Respond
- Managing & Mobilizing Insurance Data in a Connected World
- Race to the Finish Line
- New Tools, New Opportunities in Claims
- ITA LIVE: Reaching Insurance Industry Crossroads
- Advice to Insurance IT Leaders: Keep Your Eye on the Ball
- New Date, Venue for ITA LIVE 2017
- Guidewire Makes Major Push to Small and Midtier Market by Acquiring ISCS
- Insurance Disruption is Happening Right Now
- Insurity Adds Strategic Investment Partner, General Atlantic
- Beyond Transformation: The Convergence of Finance, Risk, and Actuarial Functions
- The Rapid Evolution of Consumer Protection Regulation
- Talent Hunt: Finding, Attracting, Retaining Top People
- Insurers Flexing Their Distribution Models
- Technology Driving Disruption in Insurance
- Fear of ‘Next Bubble’ Challenges Life, Annuity Carriers
- Technology Allows Commercial Lines Insurers to Stand Out
- Single Sign-on Viewed as Biggest Tech Challenge for Agencies
- ISCS Observes 20th Anniversary; Scurto Predicts Major Changes Ahead
- Policyholders and Their First Impressions
- Progressive Making Progress on the UBI Front
- High and Dry: Insurers Search for Disaster Recovery Plans
- Insurers Sign The (Un)Dotted Line
- Reflections of a Retired Insurance CIO
- Mobile Device Management Just One Answer to BYOD Issue
- Lessons from GEICO and Progressive on Winning the Critical Buying Stage
- You Are a Target for a Cyber Attack
- Web-based Systems are the Next Evolution in Claims Technology
- Gaining a “Wow” Experience from Web Users
- Time to Shift from Business/IT Alignment to Business/IT Alliance
- Healthcare Insurers Changing to Consumer Model
- Organization is the Key for Selecting Software Vendors
- Analysts Expound on the Needs of the Mid-tier Insurance Market
- Finding the Cure for Obamacare’s Website
- New Software Solutions Benefit Insurers on the Inside and Outside
- Products, Market Impede Investment in Systems for Life Insurers
- Combatting Cyber Threats: Predict, Prevent, Persist
- The Future of Telematics Heads Beyond Insurance
- The Shame in Cyber Security Lapses
- Building Policy Administration Systems for the Future
- Insurers Look Into The Eyes of Their Policyholders
- It’s a New Dawn for the ITA
INSURANCE IT NEWS
- Chisel AI Named as an IDC Innovator for Insurance Sales Automation Solutions
- New Majesco Report Emphasizes the Burning Platform for Insurance Transformation and Market Leadership
- Veruna Named Insurance Technology Company of the Year
- Joint partnership between MedRisk and Raintree Systems to reduce administrative burden and expedite payment for physical therapy
- Hearsay Systems Joins Guidewire PartnerConnect Solution Alliance Program
- Effisoft's Reinsurance Software Named "2019 Software Innovation of the Year" by Reactions Magazine
- Virginia Farm Bureau Mutual Insurance Company Selects One Inc for Claims Processing
- OPTIS Study Finds Big Players Still Paying Top Dollar for P&C Agencies
The Email Chat is a regular feature of the ITA Pro magazine and website. We send a series of questions to an insurance IT leader in search of thought-provoking responses on important issues facing the insurance industry.
ITA LIVE 2020
ITA LIVE 2020 –SAVE THE DATE!
April 5th – 7th, 2020
The Diplomat Resort
Become a member today to receive updates – www.itapro.org/MR
BLOGS AND COLUMNS
You have surely heard it said that small businesses are the growth engine for America. Today, the phrase has a special ring to it for benefits... READ MORE
With stagnant growth and lingering low interest rates, the life insurance industry faces a challenging future... READ MORE
Finding insurance carriers willing to write commercial lines risks has always been a challenge for producers... READ MORE
As Guidewire Software prepares for the start of Connections, its 11th annual user conference that begins on Nov. 2, Brian Desmond, chief marketing... READ MORE