IntellectAI, the Insurtech business unit of Intellect Design Arena offering AI and data-powered underwriting solutions, and InsureMO, a leading global insurance infrastructure platform, announced that Incarnation Specialty, signed on as the latest MGA client for IntellectAI’s underwriting workbench, eMACH.ai Xponent, with the InsureMO policy admin system.
As an MGA with specialised inland and ocean marine insurance offerings, Incarnation selected two insurtech companies because they were looking to rapidly mobilise and launch an end-to-end underwriting and policy admin solution to ingest, underwrite, rate, quote and bind submissions, and issue and manage policy lifecycles.
eMACH.ai Xponent is a highly configurable, feature-rich AI-powered, end-to-end workbench for account-centric underwriting built on Purple Fabric platform enhanced by eMACH.ai framework. Purple Fabric is an advanced enterprise AI platform that uses a low-code, self-service approach to enable enterprises to quickly build and implement AI solutions. This strategy reduces costs and time investment while fostering creativity.
Steven Weiss, President, Incarnation, stated, “We were in the market for a cutting-edge solution that would prove cost effective for us. We looked at a dozen different systems, but the capabilities, future expansion, growth of the product and the cost structure were all in line with IntellectAI, and they have not failed. Having spent over a year at my previous company and millions of dollars developing a system that was barely capable of meeting the objectives, IntellectAI’s solution stands out as a positive. We look forward to the integration of the front and back ends along with our growth in products.”
Commenting about the Incarnation win, Banesh Prabhu, CEO, IntellectAI, said, “We are thrilled to welcome Incarnation as a new customer to our underwriting ecosystem. As specialty underwriters, they are the people for whom we design our products. Incarnation understands how to effectively use technology to assess risk and streamline policy management, and we want to thank them for partnering with Intellect on their journey. ”
Banesh continued, “This deal win and quick go live speaks volumes toward the teamwork required to deliver a project and also the ease at which Intellect’s products can be configured for speed to market. This is especially true for specialty MGAs who need to get quotes out immediately.”
“We are excited that Incarnation Specialty has selected IntellectAI and InsureMO to be their technology partners on their transformation journey. The advanced features and seamless integration of eMACH.ai Xponent, along with InsureMO’s middleware capabilities, will allow Incarnation to quickly and efficiently operationalise their underwriting processes,” said Rajat Sharma, CRO, InsureMO.
