MARLBOROUGH, MASS. — Quantiphi, an Al-first digital engineering company, today announced the launch of its AI-led Intelligent Underwriting Platform (AiUP), which will be included in Google Cloud's Industry Value Network (IVN) solutions and combines the power of Dociphi, Quantiphi's intelligent document processing platform, Unqork's codeless platform and Google Cloud's services (Document Al) and infrastructure to assist with digitizing and automating the insurance underwriting process.
Quantiphi Global Head of Financial Services and Insurance, Bhaskar Kalita, said Quantiphi is committed to solving the most intricate business challenges in the financial services and insurance sector.
"Our vision for AiUP is to be the end-to-end platform helping carriers automate the complex underwriting process in commercial insurance," Kalita said. "Thereby improving application processing times, the user experience for brokers/agents and ultimately improving quote-to-bind ratios."
Built on Google Cloud, AiUP leverages Unqork's codeless platform with Dociphi's patent-pending, generative Al-enabled submission intake capabilities for a fully integrated, accelerated and more seamless underwriting experience. In doing so, insurers are empowered to significantly reduce the time it takes to complete the entire underwriting process, sometimes in a matter of hours instead of several weeks.
Unqork Global Head of Insurance, Farooq Sheikh, said the collaboration will change the very core of the underwriting process.
"Unqork is excited to partner with Quantiphi and Google Cloud to showcase the power of codeless technology to transform the insurance industry," Sheikh said. "Through AiUP, insurers will be able to accelerate and digitize the underwriting process and enable accelerated servicing for their customers, for an improved and more enjoyable insurer and customer experience."
“Google Cloud’s Industry Value Networks combine expertise and high-value solutions that help customers address common industry challenges,” Corporate Vice President of Global Partner Ecosystem & Channels, Google Cloud, Kevin Ichhpurani said. “With Quantiphi’s new AI-enabled insurance underwriting platform, carriers can help automate the complex underwriting process in commercial insurance.”
About Quantiphi
Quantiphi is an award-winning Al-first digital transformation engineering company driven by the desire to reimagine and realize transformational opportunities at the heart of the business. Quantiphi solves the toughest and most complex business problems by combining deep industry experience, disciplined cloud and data engineering practices, and cutting-edge artificial intelligence research to achieve quantifiable business impact at unprecedented speed. We are passionate about our customers and obsessed with problem-solving to make products smarter, customer experiences frictionless, processes autonomous, and businesses safer by detecting risks, threats, and anomalies. For more on Quantiphi's capabilities, visit https://quantiphi.com/.
About Unqork
Unqork is the leading Codeless as a Service platform that helps leading organizations build, deploy and manage complex software without having to think about code. Unqork created the codeless architecture standard - the future of software development that frees the world's largest enterprises from the pitfalls of legacy code and allows them to focus on innovation to drive business and maintain a competitive edge. More than one-third of Unqork's corporate customers are in the Fortune 500, with a customer roster that includes Goldman Sachs, Marsh, Maimonides Medical Center, and the U.S. Department of Health and Human Services. To learn more, please visit: www.unqork.com.
