Squirro
Reinsurance Solution

Underwriting automation & submission treaty 
management

Squirro
Reinsurance Solution

Augment your experts to be among the winners in reinsurance

The search for new global markets, a wave of natural catastrophes and uncertain economic conditions might easily keep reinsurance companies’ eyes fixed on the outside world.

But internally, legacy technology systems, a dependency on brokers for leads and the laborious business of underwriting also represent costly headaches and competitive risks.

In a time of stark challenges, some reinsurers will inevitably lose their way. The winners will be the ones that balance the potential of technology with a fully utilized and optimized workforce.

Squirro’s Reinsurance Solution can’t change the world outside, but it can save tens to hundreds of hours from the underwriting process by leveraging Augmented Intelligence to drastically enhance the speed and efficiency of underwriters. And it can help to break the broker habit by managing large volumes of data to identify catalysts for lead generation.

WHY SHOULD YOU DO MORE WITH YOUR DATA ASSETS?

Some relevant KPIs to take into account:

sales growth
outperformance using behavioral insights
Source: McKinsey

of data is
unstructured
Source: Forbes

of companies say that
data-driven decision-making is important to the growth of their business
Source: Super Office

Our Customers

Data-driven insurance institutions

The insight gained from the Squirro’s solution is significantly deeper than can be achieved from structured data analysis.”

Source: Finance, firm size 50M – 250M.

The best feature is Squirro's ability to query unstructured data as well as structured data from multiple sources.”

Source: Finance, firm size 3B – 10B.
DISCOVER

Squirro Reinsurance Solution

Squirro provides Reinsurance professionals with the right insights and recommendations at the right moment in the context of their work – automatically.

Our Reinsurance solution is the Smart Assistant for the financial services world. It combines the power of AI with the imagination, intuition and intelligence of humans and provides a natural user-interaction that doesn’t require expert skills.

With pre-configured connectors to the most relevant data sources and over 50 pre-trained ML & AI models related to corporate events, people, risks, financial information or financial markets, our Solution delivers value from day one..

Don’t lose out on any deal and let Squirro uncover triggers ahead of your competition. Unlock the power of your data today.

SQUIRRO TOPIC EXPERT

Combining industry and technical know-how

Our Augmented Intelligence solutions for Reinsurance and Commercial Underwriting are a result of a joint-effort and teamwork with our partner Synpulse. Synpulse is a leading company in value creation from business to IT in the financial services industry, with a proven expertise and know-how in insurance.

By utilizing Squirro's Insights Engine, the Reinsurance and Commercial Underwriting solutions leverage AI and machine learning to allow underwriters to focus on the most critical risks associated with each submission and to support them in the underwriting process, speeding up the submission handling.

UNDERSTAND

Squirro Reinsurance Solution

1

Automate the automatable

View all relevant documents and information on one dashboard. Automatic extraction of key attributes and numbers from submission documents lets underwriters focus on evaluating critical risks.

2

Go to the heart of the matter

We guide underwriters directly to the most recent relevant documents. Key attribute extraction helps them verify the adapted exposure. Natural language understanding detects critical clauses, making light work of lengthy and complex documents. 

3

Intuitive deal, account and market cockpit

A 360° cockpit for sales and technical underwriters monitors exposure and capacity allocation across key risks, business units and markets.

WHAT’S IN IT FOR YOU

Impact in Reinsurance

HIGHLIGHTS

  • Deal origination
  • Counter party recommendations
  • Relationship map
  • Pitch Insights
  • 360° client cockpit

Benefits

  • Improve profitability and efficiency
  • Increase revenue and uncover hidden deals
  • Strengthen client relationships
  • Get quicker client and market insights
  • Reduce time to analyze data

Achievements

  • 6-month early notice on potential deals
  • > 50 deals uncovered in first 30 days recommendations
  • > 95% accuracy of Models
  • Improved ROI on premium data
  • Increased adoption rate of CRM system cockpit
STAY INFORMED

Resources for Reinsurance