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Press release


INSURITY PARTNERS WITH OIP ROBOTICS TO TRANSFORM DATA PROCESSING THROUGH AI

March 19, 2024

This partnership pairs enterprise-ready AI with state-of-the-art SaaS solutions,
allowing for seamless data flow and automation, enhanced operational efficiency,
and reduced costs for insurance organizations

HARTFORD, Conn.--Insurity, the leading provider of cloud software for insurance
carriers, brokers, and MGAs, today announced that it has partnered with OIP
Robotics (OIPR), an Insurtech data and software solutions lab, to transform data
processing within P&C insurance. This collaboration is set to bring unparalleled
automation efficiency to policy lifecycle management and transform traditional
data processing methods, bringing increased operational efficiencies and reduced
costs to insurance organizations.

By integrating OIPR’s innovative AI capabilities with Insurity’s advanced SaaS
offerings, Insurity customers get the benefit of streamlined processing using a
single document entry point feeding Insurity’s entire product suite. The
partnership maximizes automation and reusability. This efficiency enhances
operational processes and significantly lowers the risk of claims related to
data entry errors, thereby safeguarding customer interests. Submissions that
previously took hours are completed in minutes, reducing data entry errors from
a 4% error ratio to less than 1%.

Moreover, this partnership addresses the insurance industry’s long-standing
challenges with the absence of standardization and unstructured documentation.
By offering a solution that seamlessly integrates AI into SaaS, Insurity and
OIPR are breaking down the barriers of costly complexity typically associated
with AI implementation in the insurance sector. This enables a smoother and more
economically favorable adoption of AI technologies, allowing insurers to focus
more on their core functions, such as underwriting, risk management, and claims
handling.

“To bring true automation to insurance, it’s imperative to pair up
state-of-the-art, SaaS-deployed core systems with new and emerging AI
capabilities, precisely the aim of the OIPR and Insurity partnership,” said
Mladen Subasic, Chief Product Officer at OIP Robotics. “We will bring low-touch,
seamless data flow to underwriting, claims, and policy support teams, shifting
their focus to what matters – building relationships with customers and growing
a profitable book of business. The joint efforts of OIPR and Insurity aim to
remove unstructured and insufficient data, disparate tools, and reliance on
legacy systems from the equation. We are thrilled about this partnership and
excited to work alongside an innovation-driven company such as Insurity.”

“This partnership unites OIPR’s unique AI approach with Insurity’s comprehensive
cloud-native offerings,” said Sylvester Mathis, Chief Insurance Officer at
Insurity. “The collaboration is expected to bring increased automation levels to
our shared market and combine ideas, technology, and perspectives of both
organizations, fostering innovation and setting new industry benchmarks.”

To learn more about Insurity’s partnership with OIP Robotics, please get in
touch with Elizabeth.Hutchinson@insurity.com.

About Insurity

Insurity is a leading provider of cloud-based software for insurance carriers,
brokers, and MGAs. Insurity is trusted by 22 of the top 25 P&C carriers and 7 of
the top 10 MGAs in the US and has over 400 cloud-based deployments. Through its
best-in-class digital platform, unrivaled industry experience, and the
industry's most robust analytics offerings, Insurity is uniquely positioned to
deliver exceptional value, empowering customers to focus on their core
businesses, optimize their operations, and provide superior policyholder
experiences. Insurity is a portfolio company of GI Partners and TA Associates.
For more information, visit www.insurity.com.

About OIP Robotics

OIP Robotics is an InsurTech data and software solutions lab, with its primary
offering being the flagship product, NT Extractor. This advanced solution
combines AI-powered complex document understanding with the expertise of skilled
insurance professionals to enable seamless data flow across the policy
lifecycle. Having been in business for more than 11 years, OIPR has established
itself as a trusted partner for more than 120 clients, including carriers,
MGAs/MGUs, and brokers. OIPR specializes in complex PolicyOps and document
understanding solutions.


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   Accelerate Migrations from Legacy Systems for P&C Insurers
 * Insurity Announces Gray Nester, Chief Information Officer at Brown & Brown,
   Inc., to Give Keynote Address at Excellence in Insurance Conference
 * Insurity Claims Solution Recognized by Independent Research Firm in Latest
   P&C Claims Management Systems Report

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