Insurtech firms IntellectAI and InsureMO have onboarded Incarnation Specialty, a marine insurance Managing General Agency (MGA), to their end-to-end underwriting ecosystem. The partnership, announced today, will leverage eMACH.ai Xponent, an AI-powered underwriting workbench, and InsureMO’s policy administration system.

The shares of Intellect Design Arena Limited were trading at ₹857.70 up by ₹6.40 or 0.75 per cent on the NSE today at 1.10 pm.

Incarnation Specialty, specialising in ocean and inland marine insurance, sought a rapid, comprehensive solution to streamline its underwriting processes. The company will utilise the platform to ingest, underwrite, rate, quote, and bind insurance submissions across cargo, stock throughput, project cargo, auto physical damage, and motor truck cargo segments.

Steven Weiss, Incarnation’s President, highlighted the solution’s cost-effectiveness after evaluating multiple systems. Banesh Prabhu, CEO of IntellectAI, emphasised the quick implementation and configuration capabilities of their technology.

The partnership underscores a growing trend in insurance technology, where specialised MGAs leverage advanced AI and middleware platforms to enhance operational efficiency and market responsiveness. Incarnation plans to expand its product lines using this new technological infrastructure.

Published on December 12, 2024