Copilot Reduces Time-to-Quote by 97%
Kalepa is proud to announce that our Copilot underwriting workbench has achieved a new high-water mark in improving commercial underwriting, reducing time-to-quote on a multi-million dollar complex account by 97%. Thanks to Copilot’s risk analysis, document ingestion, and workflow optimization features, the underwriter saved over a week’s worth of work and was able to win the account, one of the largest in the insurer’s history.
While Copilot has always saved underwriters time - 58% on most complex risks - recent advancements in Copilot’s workflow, risk analysis, and document ingestion have helped underwriters achieve new heights. Critically, this reduction in underwriting time enables an even more thorough review. This risk in particular involved a complex multi-location schedule, hundreds of historical losses, and many non-obvious COPE and crime-related exposures - all of which Copilot flagged just minutes after receiving the submission.
The biggest challenge for this submission was repeated back-and-forth negotiation with the broker that resulted in five separate changes to the schedule. Copilot allowed the underwriter to turn around revised quotes in hours, not days. This meant the underwriter could win the business, securing one of the largest accounts in the history of the carrier.
“In reducing time-to-quote by 97%, Copilot has delivered a new standard of underwriting achievement,” said Daniel Hillman, COO and Co-Founder of Kalepa. “Copilot is helping underwriters win business that they never thought was possible. We love empowering our clients to achieve better, faster underwriting, and we are excited to have reached this milestone with them.”