As NetVU Silver Corporate Partners, we offer an exclusive member discount—your first 5 policy checks are on us! CHECK IT OUT HERE
In today’s rapidly evolving insurance market, where carrier appetite and policy coverage are constantly changing, surplus lines placements are rising, and E&O claims are increasing, policy checking is more critical than ever. It cannot be overlooked or delegated to a low-skilled workforce as a mere checkbox task. Policy checking is a time-consuming and meticulous process that demands careful attention to detail and comprehensive insurance knowledge. Even the most diligent and experienced professionals can make mistakes or overlook crucial coverage changes when reviewing large policies, lengthy schedules, intricate coverages, and endorsements.
This is where P&C trained GenAI tools like BluePond.AI’s Broker CoPilot, are transforming how agencies approach complex tasks like Policy Checking and Quote Comparison. These specialized AI solutions excel at ingesting policy documents, understanding intricate insurance terminology, and making accurate comparisons across multiple large documents like current and prior term policies, quotes, binders, and the submission pack. Tasks that are tedious and error-prone for humans—such as comparing detailed vehicle schedules—are handled with precision and speed by AI.
AI-powered policy checking not only ensures thoroughness and accuracy but also reduces the risk of costly E&O incidents. These tools offer a level of consistency that manual checks often miss, making them an invaluable asset for agencies aiming to enhance their service quality and safeguard against risks. In the case of BluePond, AI output is further checked by highly trained and experienced professionals to ensure 99%+ accuracy.
Transforming Policy Checking into a Value-Added Client Service
Beyond risk mitigation, AI-enabled policy checking can be leveraged as a value-added service for clients. By providing clients with clear, concise policy summaries after a thorough check, your agency can showcase its commitment to client needs and coverage accuracy. This is particularly valuable when onboarding new clients, working with new carriers, or addressing concerns about premiums. By educating clients on their coverages and potential exposures, you build trust, strengthen relationships, and reinforce your role as experts in the field.
Why AI Is the Future of Policy Checking
Policy checking is more than a routine task; it’s a chance to set your agency apart in a competitive market. By integrating advanced AI with human oversight, you can enhance service levels, minimize risk, and build client loyalty. Let us show you how Broker CoPilot identifies errors, flags discrepancies, and delivers seamless results.
As NetVU Silver Corporate Partners, we offer an exclusive member discount—your first 5 policy checks are on us! CHECK IT OUT HERE