Humans run businesses Main colours - s3.amazonaws.com · Underwri?ng knowledge and decisions retained electronically 13. Proac?vely idenfy cross sell opportuni?es across Lines of

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Humansrunbusinesses



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2

TheManualtoDigitalShi<

Driverlesscars Smartmachineswithabilitytothink Wearabledevices

Technologyisfundamentallychallengingassump?onsaboutwhatisamachine–coveringallaspectsoflifemakingworkeasier,simpler,be;er–almostlikeasuper-humanassistant

Thereisasuperhumanassistantforallyourneeds….



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HOWWILLANALYTICSENABLETHISSHIFTFORUNDERWRITING?

3



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BIG DATA REQUIRES RETHINKING YOUR APPROACH TO DATA

4



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5

HowunderwritershavebeentradiLonally

-  70%?mespentonlowvaluetasks-  TroublegeYnginforma?onatoneplace

-  Swivelchairintegra?onissues-  Challengecomparingdatafrommul?ple

sources-  Communica?ongapswhencollabora?ng

withexpertsandbrokers

SoluLon:WorkSmarter



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*Includesmachinelearninganddeeplearning

DescripLveAnalyLcsWhatishappening

Confirm

Hindsight

Analy?calTechnique

Outcome

Process

TradiLonalApproach

FormTheory

ObserveData

DiagnosLcAnalyLcsWhydidithappen

PredicLveAnalyLcsWhatislikelyto

happen

FormTheory

Foresight

BigDataApproach

ObserveData

*Iden?fyPa;ern

PrescripLveAnalyLcsWhatshouldIdo

aboutit

6



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BIG DATA APPROACH IS ADDITIVE TO TRADITIONAL APPROACHES

7



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TradiLonalApproach BigDataApproach

Volume Fewersources–juststoreeverythingweneedtomakethedecisionsoftoday

Largenumberofsources–storeeverythingfortheques?onsanddecisionsyouareyettothinkof

Velocity Managedchangesdoneinfrequently Changesdoneconstantly–crowdsourced

Variety Structured–internal/external Structured–internal/external,Unstructured–external

VeracitySourceLevel–e.g.thisisthe“sourceoftruth”forFTE,perils,crimeetc.

Fewersources–juststoreeverythingweneedtomakethedecisionsoftoday

Feedback Manualcleansingfromfewerpeople–scholarly“encyclopediaapproach”

Crowdsourcedorviamachinelearningalgorithms–“WikipediaApproach”

Visualizing Graphs,tables,onewayreports Alerts,graphs,interac?veapplica?ons

ExamplesPolicies,Quote,Claims,BillingRiskMeter,D&B,PitneyBowes,LexisNexis,Verisk

Alloftradi?onaldata+LinkedIncompanyprofile,Facebook,Twi;er,YahooBOSS,GoogleSearch,Urbanspoon,Yelp,Glassdoor

8



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•  ThenewbusinessgeneratorUnderstandthebigpictureaboutcustomersandhencepredictdesirableleads,cross-sellingopportuni?es,messaging

•  TheinnovatorHelpwithproductdevelopmentbydefiningrequirements,pricingframeworks,keytrendsbasedonthirdpartydataandcustomerbehavior–uniqueinsights

•  Thecustomeradvocate/businesspartnerBuildandenablea“teamapproach”toaccountservicingviacollabora?vetoolsanddemocra?cinforma?onaccess.Leadingtobe;ersolu?onsandincreasedcustomerloyalty.

•  ThedataexpertMachinelearning,AIandbigdataenabletouseanaly?calapproachtoimproveprecisionandnewkindsofdatapredic?onandpredic?vemodeling.

9

TheEvolvingRoleofUnderwriter

Source:E&Y

Underwriteroftomorrowwillstraddlemul?pleroles,beyondthecurrentjobpredefini?ons.



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HOWINTELLECTCREATESTHEFUTURE

10



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Iamwithyou!YourvirtualUnderwri5ngAssistant

OurSoluLon:(1)BeVerRiskInformaLon,Applied&(2)BeVerProcessFlowandInterface

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•  SearchesandAggregates:Largestdataset1800+structuredsources;u?lizesBigData!

•  Analyzes:NaturalLanguageProcessingacrossallsources

•  DataConnectors:includingACORDbasedconnectorswireupinternalstructuredsources

•  Customalertsandrules:Tolerancescanbeconfiguredbyendusers

•  ArLficialIntelligence:Algorithmcon?nuouslylearns&improvesbasedonuniqueac?onsofanUnderwriter.

•  Reports:Electronicandenableeaseofcollabora?onbetweenunderwriters

•  Proven:ImplementedatCommercialLineInsurers;POCsforotherLinesofBusinessinprogress

•  CloudBased:PublicorPrivate;Dataisavailableas‘Res\ulAPIs’

IntellectRiskAnalyst:TheonlyproductthatcombinesSearch,AggregaLon,Analysis,VisualizaLon&Learning



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IntellectRiskAnalyst:CapabiliLesInclude

13MakingYouEasiertodoBusinesswithANDDeliveringBe;erProfitability

14.  Iden?fyrisksinaterritory&SICcodethatmatchtailoredunderwri?ngcriteria

1.  EnteronlyCompanynameandretrieve70%+dataforunderwri?ng

2.  Enablenearreal?megenera?onofaccurateandbindingquotesforSMEbusinessandabove

3.  SinglesourceforyourdataneedstogetcompleteviewofRisk.

4.  Underwritersarealertedtokeyac?onsautoma?cally

5.  Underwritersdevelopandimplementrulesthemselves

6.  ModifyPremiumsbasedonscien?ficcriteria

7.  Minimizemanualwork&managereferralinrecord?me

8.  Underwri?ngknowledgeanddecisionsretainedelectronically

13.  Proac?velyiden?fycrosssellopportuni?esacrossLinesofBusiness

9.  Proac?velytargetthemostprofitableorunderperformingrisks

10.  IncorporateUnstructuredDataintoop?miza?on&ra?ng

11.  Createpro-ac?veandscien?ficRa?ng/Pricingmodelstooutperformindustrylossra?operformance

12.  Flagmaterialchangesinpoliciescomingforrenewalandsuggestchangestocoverandpricing

ApplicaLonPrefilling UnderwriLng

Por\olioAnalysis&Renewals

CrossSell&UpSelling

ProacLveMarkeLng

Requestareport-EnterasliVleasCompanyName

14



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Dashboard

15



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SELECTEDOTHERCAPABILITIES

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OrganizaLonSummary

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FinancialData–D&BHoover/Xignite/Experian

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Yelpreviewshelpsunderwriterstoiden?fyEstablishmentIssue

IdenLfies&FlagsInformaLonfoundintheUnstructuredData-YelpReviews

Glassdoorreviewshelpsunderwritersto

an?cipateemploymentrelatedissues

UnstructuredData-GlassdoorReviews

Sortsandlistsmost‘relevant’Unstructureddata

21

Rules-Underwritersdevelopandimplementrulesthemselves

22

Rulecrea?onisintui?ve

Datadic?onaryonexternaldata

PrioriLzeworkbasedonUnderwriLngguidelinesforNewBusiness

23

§  Bookofbusinesscaneasilybesegmentedtowhatnottounderwrite(Ugly),whattobecau?ouswith(Bad)andJustDoIt(Good)

Uglyaccountstodeclinerisk(Higherthescorethehighertherisk.Thisscorecanbeconfiguredtoeachcustomerbasedonthe

variablesinoursystem)

Iden?fyaccountstomodifypremiumfactorsordefinerisk

managementplan.

Goodaccountwhereunderwritersneednothavetospend?me

(Lowerthescorethelessriskyitis)



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IdenLfiesCompleteLocaLonSchedule

24



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BeVerUnderwriLng–CompleteDetailsonIndividualLocaLons

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CompletelistofCompany’sOwnersandOfficers

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§  Benefit–Evenifthecompanyandloca?onisok,RAprovidesbackgroundtotheowners/officerspriorprofessionalhistory



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§  Benefit–Runreportsonsimilarcompaniestoproac?velycreatepre-approvedquotes

ProacLvemarkeLngopportunitybylisLngthecompeLtors

BeVerUnderwriLng-InsuranceshouldnotjustbeabouttheNegaLves

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Posi?veflagsfoundenablescarriertodiscountgoodprac?cesandretainmore

profitablebusinesses



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FulllistofLegalFilingsfortheCompany

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§ Benefit–Noneedtologinandcutandpastelegaldatafrom3-5sources.RAtakesanelectroniccopy

UpdateforRestaurants



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MulLpleproductlines(LOBs)alertsforAccountLevelUnderwriLngaswellasproacLvelyidenLfycrosssellopportuniLesacrossLinesofBusiness

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UnderwritersarealertedtokeyacLonsautomaLcallyinourUnderwriLngWorkstaLon

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Withouthavingtoreadthroughapplica?on,theunderwritersknowthenextsetoftaskstoperform



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32

HowUWXhelpsunderwriterstoperformtheirevolvingroles

Toolsyouneedtoworksmarter,accessiblefromanywhere.

Thesalesassistant

Leveragebigdatatouncovertradi?onalandunstructuredsourcesMoreproduc?ve?mespentonunderwri?ngdecisions

Configurableworkflows–prebuiltworkmanagementalgorithmwiththeabilitytocustomizetoyourrequirementsCollabora?on–quickandeasyexchangeofinforma?onbetweenu/w’s,brokersandexperts,helpingquickclosure.

Seamlessintegra?onwithexis?ngsystemsand3rdpartydatasources360degreeviewofinforma?on

Pre-fill,cross-sell,up-sellandproac?vemarke?ng.Mul?-product&mul?quotesystems–combinemul?pleLOB’sinasingleproposalTheinnovator

Thecustomeradvocate

Thedatascien?st



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DigiLzaLon

i.  360degreeview–foreachnewapplica?onandrenewalrequestii.  Configurableworkflows–Out-of-the-boxquote-to-issuanceworkflow,withabilitytocustomizeiii.  Mul?pleProduct/Mul?Quote-acrossLOBsintoasingleproposaliv.  Intui?veDashboards–foropera?onalandfinancialrepor?ngv.  Paperless-documentmanagementfeaturethatcaptures,tracks,storesandlinksdocumentstorelevantfiles

electronically

Mobile

i.   MobileandTabletfuncLonality–providesany?me,anywhereaccessii.  Quick,easyexchangeofinforma?onamongallpar?es

BigDataandServiceDelivery

i.  Analyzesdatafrom1800+sources,usesAI,machinelearningandNLPtoensuredataaccuracyii.   Direct-to-customerportal-providesmul?plequotestocustomersinreal-?me

UsingSocialMedia

i.  Datafromunstructuredsources,usessocialintelligence

33

HowUWXisusingTechnologyforsimplificaLon



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NeedformorecollaboraLon,aworkingtogetherapproachandbuildinginmoreflexibility.

•  UWXhasthreeportalsthatenableunderwriters,producersandexpertstobuildcompleteriskprofiles,havea360-degreeviewofaccounts,deliverfasterservicetobrokers,easilyintegratewiththirdpar?esandenablecollabora?on.

–  Mobilefunc?onalityallowsreal?medocument,photosexchangewhileinthefield.–  Documentmanagementtocapturecustomerdata,route,track,storeandlinkdocuments–  Dashboardsforopera?onalandfinancialreportsagainstKPIswithproac?vealerts–  Collabora?onamongunderwriters,brokers,expertswithaudittrails–  Guided,configurableworkflows-reduce?metoissuepolicies.–  Improvetheunderwri?ngguide,allowcollabora?on-achieveconsistentunderwri?ngprac?ces.

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HowUWXismakingunderwriLngcollaboraLve



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•  Systema?c/Automated•  Simplified•  Qualityofwork•  StressFreemindset•  Produc?vityincreases•  MorePersonal?me•  Relaxedandcalmmindset•  Be;errela?onshipwithselfand

others•  Selfsa?sfac?on•  Enjoyingwork,lookforwardto

cometooffice•  Expanse

ExpandingHorizons!!Differentwayoflookingatthings

UnderwriLngwithIntellectUWX



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UnderwritersofTheFuture



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IntellectUWX–TheWorkspaceofFuture

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Fast,Informa?onataClickEaseofCollabora?on

ManualtoDigitalSegregatedtoIntegratedTimeconsumingtoWithinminutesIndividualtoCollaboraLveFormaltoFlexibleTextualtoVisualClu;eredtoSimplified



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•  Clu;ered•  Mul?taskingrequired•  Chaos•  Toomuchinforma?on•  Unorganized

•  Stress•  Inaccuracyofdecision•  QualityofworkgeYngaffected

•  Nopersonal?me•  Stressedmindsetaffec?ngself

andpersonalrela?onships

UnderwriLngCurrently



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•  Technologiesthatwillsimplifyunderwri?ng-–  SocialMedia–  Digi?za?on–  Mobile–  BigDataandservicedelivery(cloudcompuLng).

39

SimplificaLonThroughTechnology

Source:insurancetech.com

©2016,IntellectDesignArenaLimited.Allrightsreserved.Thesematerialsareconfiden?alandproprietarytoIntellectandnopartofthesematerialsshouldbereproduced,publishedinanyformbyanymeans,electronicormechanicalincludingphotocopyoranyinforma?onstorageorretrievalsystemnorshouldthematerialsbedisclosedtothirdpar?eswithouttheexpresswri;enauthoriza?onofIntellectDesignArenaLimited.



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41

2.MobilityandFlexibility

Technologyischanginghowthingsweredone,mobileworkfromhome,closercollabora?ons–sharingscreendata,edi?ngonevideo,onedocumentbeingworkeduponbymul?plepeople,socialnetworks

Timeandplacenolongerma;er–anywhereany?meisthebuzz-word

Source:Citrix.com



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3.Immediacy

Instantgra?fica?on–24by7convenience,fasterwaytodoeverything,simpler,objec?veinterpreta?ons,ondemand,informa?onatfinger?ps

Everythingisavailableataclick,ondemand



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4.NatureofDataisChanging

Simpler,visual,aggregated,easilyavailable,greaterabilitytolearnbigdata,complexdataisturnedintomeaningfulbyteseasily,businessesusingbigdata,3Dimaging–dataismorereal



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5.ManyinOne–Theeraofmore

Mul?-tasking,abilitytobeinmanyplacesatonce,asgeographicaldistancedoesnotma;er,automatetasks,connecteddeviceswithonetouchcontrol,smarthomeappliances



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6.Timeisthenewcurrency

Time-savedismoneysaved,improvementinproduc?vity,?meefficienttechnologies,everythingisfasterthanbefore-automatetaskstosave?me,smartCRMsystems,papertoonline,getalldatainoneplaceforamee?ngtostart



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7.Opencultures–lesshierarchy,lesspredefiniLons

Rolesarenotstrictlypre-defined,morecollabora?on,abilitytocross-task,func?onalandorganiza?onalhierarchiesaredisappearing,lessformal,socialnetworking,collabora?ontools

Documents

Humans run businesses Main colours - s3.amazonaws.com · Underwri?ng knowledge and decisions retained electronically 13. Proac?vely idenfy cross sell opportuni?es across Lines of