Send offers a platform that automates the underwriting process for insurers and managing general agents (MGAs) by integrating complex data and streamlining task management from submission to binding. This solution addresses inefficiencies in underwriting operations, enabling teams to enhance productivity and make data-driven decisions.
Funding
$10.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Insurers and MGAs face challenges in efficiently managing the underwriting process due to reliance on unstructured data, manual tasks, and fragmented systems, leading to delays and suboptimal decision-making. The complexity of commercial and specialty insurance markets further exacerbates these inefficiencies.
Solution
Send offers a unified platform designed to streamline and automate the underwriting process, from initial submission to policy binding and beyond. The platform integrates complex data from various sources into a single, consolidated view, enabling underwriters to make data-driven decisions and improve risk assessment. By automating time-consuming tasks and providing a centralized location for data, decisions, and documents, Send empowers underwriting teams to enhance productivity, improve predictability, and optimize their operations. The platform's composable architecture allows insurers and MGAs to tailor the solution to their specific needs, ensuring a seamless fit with existing systems and workflows.
Target Audience
Send primarily targets insurers, managing general agents (MGAs), and reinsurers operating in the complex commercial and specialty insurance markets, including the London Market and North America.
Features
- Smart Submission: Automates the organization and extraction of unstructured data from submissions.
- Underwriting Workbench: Provides a single platform to manage the entire underwriting lifecycle.
- Delegated Underwriting Authority: Manages coverholder, binder, and bordereaux within the Underwriting Workbench.
- Bordereaux Ingestion: Ingests and maps unstructured data from bordereaux.
- Clash Checks: Identifies potential clashes and overlaps in risks across the portfolio.
- Clearance & Compliance: Ensures compliance and reduces associated risks.
- Contract Management: Captures relevant details for binding authority contracts with an integrated review and approval process.
- Document Generation: Generates quotes, policies, and regulatory documents on demand.
- Risk Insights: Leverages analytics for enhanced risk assessment.
- Task Management: Organizes and tracks tasks related to insurance operations.
- Integrated Rating: Enhanced rating capabilities with integrations to preferred rating platforms.