Insurity partnered with OIP Robotics to transform P&C insurance sector

Insurity has partnered with OIP Robotics to revolutionise data processing within the Property & Casualty (P&C) insurance sector

By integrating OIP's AI capabilities with Insurity's advanced Software as a Service (SaaS) solutions, the collaboration aims to streamline processing through a single document entry point that feeds into Insurity's entire product suite. This integration enhances operational processes and reduces the risk of claims related to data entry errors by maximizing automation and reusability. Previously time-consuming submissions are now completed in minutes, resulting in a reduction of data entry errors from a 4% error ratio to less than 1%. Additionally, the collaboration addresses long-standing challenges in the insurance industry, such as the absence of standardization and unstructured documentation. By seamlessly integrating AI into SaaS, Insurity and OIP aim to overcome the complexities and costs typically associated with AI implementation in the insurance sector.

Mladen Subasic, Chief Product Officer at OIP Robotics, emphasized the importance of pairing state-of-the-art SaaS core systems with emerging AI capabilities to bring true automation to insurance processes. The partnership between OIP and Insurity aims to streamline data flow, reduce reliance on legacy systems, and enable underwriting, claims, and policy support teams to focus on customer relationships and business growth. Sylvester Mathis, Chief Insurance Officer at Insurity, highlighted the partnership's potential to increase automation levels in the shared market and foster innovation by combining the unique AI approach of OIP with Insurity's comprehensive cloud-native offerings. The collaboration aims to set new industry benchmarks and drive forward-thinking solutions in the insurance sector.