How Commercial Insurance Carriers Use Groundspeed
Groundspeed provides comprehensive, accurate submission data enriched by our predictive analytics and third-party insights. So underwriters can spend more time underwriting.
Setup & Clearance
Today, setup and clearance is a manual, time-consuming, and expensive grind for your underwriters.
Carriers can only evaluate risk once they confirm the broker of record and set up the submission for underwriting. To do that, your team needs to painstakingly key in data, check systems, and prepare the submission.
It’s time to move faster. Our AI automatically sorts emails and attachments and extracts the key data fields you need to clear and set up new and existing accounts.
Once completed, our pipeline arms you with insight into essential risk factors that help in the triage process. Helping you save time and money.
You need to match potential new business to your risk appetite. But when you’re buried in submissions and manually trying to dig out, opportunities that fit get overlooked or lost to competitors because you can’t quote the business in time. Speed means success.
With Groundspeed’s AI process, you can accelerate triage by arming underwriters with all the data they need to make well-informed decisions in just hours. So your underwriting team can vet every submission against your business’ underwriting guidelines and prioritize the best matches.
With the structured and enriched submission data from Groundspeed, your underwriters can quickly decline bad business matches and quote more business that fits your risk appetite.
Actuaries and underwriters crave accurate data when they rate risk, but currently, they’re not getting it. Today, information gathering is time-consuming and inconsistent. Carriers are forced to save time and money with general assessments from a composite rating approach, even though they know line-based rating would lead to better results.
Groundspeed delivers the granular data required for a complete rating. That means carriers can price risk appropriately and proactively decline problematic submissions.
We provide detailed rating information from both quoted and unquoted submissions, so both inputs can be analyzed to inform sharper future decision-making.
It adds up to improved accuracy, breadth, and depth of data that helps you price risk smarter and more profitably.