A leading US Property and Casualty insurance carrier signed a five-year renewal agreement for Intellect Xponent. This win is the result of the Xponent team’s valuable efforts to strengthen the relationship over the last 3 years, a highly responsive product support team, and a commendable partnership demonstrated through business consulting and customer-centricity.
The carrier was Intellect SEEC’s first client for Xponent. They have already experienced substantial benefits that show underwriting decision-making time reduced by 60%, lowered the cost to access new third-party data sources, and is expecting premium growth plans for new classes and market segments.
The idea to extend the contract from the traditional three-year term to a five-year subscription deal was to further propel their Underwriting Transformation journey and achieve business objectives of the informed decision- making, multi-layered performance visibility and efficiency, and improved consistency in the UW process.