PolicyCheck is an AI-powered platform that automates insurance needs assessment and policy matching for advisers. It streamlines the generation of compliant Statements of Advice and provides detailed policy comparison tools to enhance client engagement and retention.
Funding
Funding not disclosed
Founders
Product
Problem
Insurance advisers face challenges in efficiently capturing client needs, accurately matching them to suitable policies, and generating compliant documentation. This manual process is time-consuming and can lead to suboptimal policy selections and client dissatisfaction.
Solution
PolicyCheck offers an AI-powered platform designed to streamline the insurance advisory workflow. The system automates client needs assessment, leverages AI for in-depth policy matching against a broad market, and generates compliant client-facing documents such as Statements of Advice. By integrating these functions into a single interface, PolicyCheck enables advisers to reduce administrative overhead, enhance the precision of policy recommendations, and improve overall client engagement and retention. The platform supports a wide array of insurance product types, facilitating comprehensive coverage analysis.
Target Audience
The platform is designed for insurance advisers and advisory firms seeking to optimize their client onboarding, policy selection, and documentation processes.
Features
- AI-driven digital needs assessment for comprehensive client data capture.
- Automated policy matching engine analyzing thousands of policies and variations.
- Instant generation of Statements of Advice, proposals, and client communications.
- Side-by-side policy comparison tools highlighting key differences, endorsements, and wordings.
- Detailed comparison views including clause-level diffs, endorsement vs. base policy analysis, and policy version timelines.
- Visualization tools such as exclusion heatmaps, coverage spider charts, and limits/deductibles matrices.
- Detection of sub-limits, conditions, warranties, and plain-English summaries of coverage gaps.
- AI-powered policy explanations with clause citations for enhanced client understanding.
- Secure document sharing with watermarking, expiry controls, and read receipts.
- Dynamic scenario testing by toggling coverage parameters to model price and coverage impacts.
- Support for a diverse range of insurance products including Home, Auto, Life, Health, Business, Liability, Cyber, and Specialty lines.