AI Insurance Slip Processing
AI Insurance Slip Processing
Turn broker submissions into data instantly
Turn broker submissions into data instantly
V7 Go automates the review of insurance slips, extracting key risk information, coverage terms, and participant details from any broker format to accelerate the underwriting process.
What is it
What is it
Automating Broker Submissions
An insurance slip is a document created by a broker summarizing a risk for underwriters. It's the primary submission document in many insurance markets.
How is it solved today?
Data entry teams manually re-key information from varied PDF and Word slip formats into policy systems a slow and error-prone process that delays quoting.
How is it solved today?
Data entry teams manually re-key information from varied PDF and Word slip formats into policy systems a slow and error-prone process that delays quoting.
How is it solved today?
Data entry teams manually re-key information from varied PDF and Word slip formats into policy systems a slow and error-prone process that delays quoting.
Why V7 Go
V7 Go's AI agent reads any slip or MRC format understanding the context to accurately extract all data needed for rating and policy issuance.
Why V7 Go
V7 Go's AI agent reads any slip or MRC format understanding the context to accurately extract all data needed for rating and policy issuance.
Why V7 Go
V7 Go's AI agent reads any slip or MRC format understanding the context to accurately extract all data needed for rating and policy issuance.
Time comparison
Time comparison
Traditional way
15-30 minutes
15-30 minutes
With V7 Go agents
1 minute
1 minute
Average time saved
95%
95%
Why V7 Go
Process broker placing slips and Market Reform Contracts (MRCs).
Extract insured details, coverage limits, premiums, and risk data.
Workflow
Workflow
Import your files
Guidewire
,
Duck Creek
,
Xchanging
Placing Slips / Broker Slips
Placing Slips / Broker Slips
Placing Slips / Broker Slips
Market Reform Contracts (MRCs)
Market Reform Contracts (MRCs)
Market Reform Contracts (MRCs)
Underwriting Submissions
Underwriting Submissions
Underwriting Submissions
Policy Binders
Policy Binders
Policy Binders
Endorsements
Endorsements
Endorsements
Quotes and Proposals
Quotes and Proposals
Quotes and Proposals
Insured Name and Address
Insured Name and Address
Insured Name and Address
Policy Period
Policy Period
Policy Period
Line of Business
Line of Business
Line of Business
Coverage Limits & Deductibles
Coverage Limits & Deductibles
Coverage Limits & Deductibles
Premium and Commission
Premium and Commission
Premium and Commission
Description of Risk / Interest
Description of Risk / Interest
Description of Risk / Interest
Subjectivities and Conditions
Subjectivities and Conditions
Subjectivities and Conditions
Broker Information
Broker Information
Broker Information
Participating Underwriters & Shares
Participating Underwriters & Shares
Participating Underwriters & Shares
Jurisdiction and Governing Law
Jurisdiction and Governing Law
Jurisdiction and Governing Law
Why V7 Go
Why V7 Go
Automated Data Extraction
Accurately extract all key data from any slip, including insured details, risk information, coverage limits, premiums, and conditions.
Automated Data Extraction
Accurately extract all key data from any slip, including insured details, risk information, coverage limits, premiums, and conditions.
Automated Data Extraction
Accurately extract all key data from any slip, including insured details, risk information, coverage limits, premiums, and conditions.
Format-Agnostic AI
The agent understands the context of insurance slips and is not dependent on a fixed template, allowing it to process submissions from any broker or in any format.
Format-Agnostic AI
The agent understands the context of insurance slips and is not dependent on a fixed template, allowing it to process submissions from any broker or in any format.
Format-Agnostic AI
The agent understands the context of insurance slips and is not dependent on a fixed template, allowing it to process submissions from any broker or in any format.
Accelerated Quoting
Provide underwriters with structured, validated data in minutes, allowing them to price and quote risks much faster.
Accelerated Quoting
Provide underwriters with structured, validated data in minutes, allowing them to price and quote risks much faster.
Accelerated Quoting
Provide underwriters with structured, validated data in minutes, allowing them to price and quote risks much faster.
Underwriter & Broker Details
Eliminate the data entry errors that can lead to incorrect policy documents and potential Errors & Omissions (E&O) exposure.
Underwriter & Broker Details
Eliminate the data entry errors that can lead to incorrect policy documents and potential Errors & Omissions (E&O) exposure.
Underwriter & Broker Details
Eliminate the data entry errors that can lead to incorrect policy documents and potential Errors & Omissions (E&O) exposure.
Underwriter & Broker Details
Capture the complete syndication details, including all participating underwriters, their shares, and brokerage information.
Underwriter & Broker Details
Capture the complete syndication details, including all participating underwriters, their shares, and brokerage information.
Underwriter & Broker Details
Capture the complete syndication details, including all participating underwriters, their shares, and brokerage information.
Increased Throughput
By automating the initial data entry, underwriting teams can process a significantly higher volume of submissions without increasing headcount.
Increased Throughput
By automating the initial data entry, underwriting teams can process a significantly higher volume of submissions without increasing headcount.
Increased Throughput
By automating the initial data entry, underwriting teams can process a significantly higher volume of submissions without increasing headcount.
V7 Go
V7 Go
AI-powered submission intake
AI-powered submission intake
for underwriters and brokers
For underwriters and brokers, manually processing insurance slips is a major operational bottleneck. Data entry teams spend hours re-keying information from varied PDF and Word document formats into policy administration systems. This slow, error-prone process delays quote turnaround, introduces policy errors, and limits the number of submissions an underwriting team can handle.
Underwriting Teams
Automate the data entry from broker submissions, allowing underwriters to focus their time on assessing risk and pricing policies, not on administration.
Underwriting Teams
Automate the data entry from broker submissions, allowing underwriters to focus their time on assessing risk and pricing policies, not on administration.
Underwriting Teams
Automate the data entry from broker submissions, allowing underwriters to focus their time on assessing risk and pricing policies, not on administration.
Insurance Brokers
Standardize data from various carrier quotes and slips to create client-facing comparisons and proposals more efficiently.
Insurance Brokers
Standardize data from various carrier quotes and slips to create client-facing comparisons and proposals more efficiently.
Insurance Brokers
Standardize data from various carrier quotes and slips to create client-facing comparisons and proposals more efficiently.
Delegate insurance slip processing
Delegate insurance slip processing
to a specialized insurance AI agent
to a specialized insurance AI agent
Automated Data Extraction
Accurately extract all key data from any slip including insured details risk information coverage limits premiums and conditions.
Format-Agnostic AI
The agent is not dependent on a fixed template allowing it to process submissions from any broker or in any format.
More agents
Next steps
Stop manually keying in data from broker slips.
Let's talk
You’ll hear back in less than 24 hours
Next steps
Stop manually keying in data from broker slips.
Let's talk
FAQ
FAQ
FAQ
Have questions?
Find answers.
What is an Insurance Slip?
An insurance slip is a document created by a broker that summarizes the key details of a risk they are looking to place with underwriters. It serves as the primary submission document in many insurance markets.
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What is an Insurance Slip?
An insurance slip is a document created by a broker that summarizes the key details of a risk they are looking to place with underwriters. It serves as the primary submission document in many insurance markets.
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What is an Insurance Slip?
An insurance slip is a document created by a broker that summarizes the key details of a risk they are looking to place with underwriters. It serves as the primary submission document in many insurance markets.
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How is a 'Slip' different from a 'Market Reform Contract (MRC)'?
They serve a very similar purpose. MRC is the standardized format used predominantly in the London Market. 'Slip' is a more general term used globally and can have many different, non-standardized formats.
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How is a 'Slip' different from a 'Market Reform Contract (MRC)'?
They serve a very similar purpose. MRC is the standardized format used predominantly in the London Market. 'Slip' is a more general term used globally and can have many different, non-standardized formats.
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How is a 'Slip' different from a 'Market Reform Contract (MRC)'?
They serve a very similar purpose. MRC is the standardized format used predominantly in the London Market. 'Slip' is a more general term used globally and can have many different, non-standardized formats.
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Does the agent handle handwritten notes or stamps on a slip?
Yes, V7 Go's advanced document processing can read and interpret handwritten underwriter initials, stamps, and other annotations often found on placing slips.
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Does the agent handle handwritten notes or stamps on a slip?
Yes, V7 Go's advanced document processing can read and interpret handwritten underwriter initials, stamps, and other annotations often found on placing slips.
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Does the agent handle handwritten notes or stamps on a slip?
Yes, V7 Go's advanced document processing can read and interpret handwritten underwriter initials, stamps, and other annotations often found on placing slips.
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Can we configure the agent to extract specific data for our systems?
Absolutely. You can customize the data extraction workflow to capture the specific fields required by your policy administration, rating, or risk modeling systems.
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Can we configure the agent to extract specific data for our systems?
Absolutely. You can customize the data extraction workflow to capture the specific fields required by your policy administration, rating, or risk modeling systems.
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Can we configure the agent to extract specific data for our systems?
Absolutely. You can customize the data extraction workflow to capture the specific fields required by your policy administration, rating, or risk modeling systems.
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How long does it take to process a slip?
A task that would take a data entry clerk 15-30 minutes of manual keying can be completed by the AI agent with higher accuracy in under 60 seconds.
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How long does it take to process a slip?
A task that would take a data entry clerk 15-30 minutes of manual keying can be completed by the AI agent with higher accuracy in under 60 seconds.
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How long does it take to process a slip?
A task that would take a data entry clerk 15-30 minutes of manual keying can be completed by the AI agent with higher accuracy in under 60 seconds.
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Does this work for all lines of business?
Yes, the agent is trained on a wide variety of slips across property, casualty, specialty, and marine insurance lines, understanding the specific data points relevant to each.
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Does this work for all lines of business?
Yes, the agent is trained on a wide variety of slips across property, casualty, specialty, and marine insurance lines, understanding the specific data points relevant to each.
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Does this work for all lines of business?
Yes, the agent is trained on a wide variety of slips across property, casualty, specialty, and marine insurance lines, understanding the specific data points relevant to each.
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