. Background:

Avalion CRM, an avant-garde product born out of innovative academic research on insurance policy underwriting. Bearing the acronym AVALION, which signifies AVant-garde ALliance Insurance ON-line, represents a revolutionary step in semi-automated risk assessment systems. It sets a new standard by consolidating all underwriting workflows, including emailing and reporting, within the system, providing a seamless and comprehensive solution for insurance professionals.

. Benefits:

• Mitigated Underwriting Risk: Enhances accuracy in risk assessment, minimizing potential errors, and optimising premium calculations for improved long-term operations;

• All in One: Consolidated work environment makes everyone happier in accordance to the LAW of CONSISTENCY and COMPLETENESS in COMPUTER SCIENCE ;

• Comprehensive Reporting Capabilities: Accesses detailed reports on various aspects including submissions, clearance records, policies, renewals, and bordereau reports, empowering data-driven decision-making for informed strategic planning;

• Automated Renewal Process: Effortlessly prepares renewals emails and notifies administrators, streamlining the renewal process for enhanced convenience and timely communication;

• Streamlined Application Process: Delivers a tailored and streamlined application process for policyholders.

. Overview:

AVALION CRM is a testament to Ensurance's commitment to advancing computational methods and CRM technologies in the insurance sector, offering a comprehensive and user-friendly solution that combines innovation with efficiency.

This product not only identifies and resolves challenges in underwriting but also signifies a significant leap forward in the integration of diverse data sources and the creation of advanced algorithms.

. The Key Features of Avalion

Avalion’s comprehensive and user-friendly solution is contributed by the following key features:

• Advanced Risk Assessment Engine: Invention of new state-of-the-art algorithm for Finding Similarity within unordered documents sets. This algorithm is part of the Master thesis in Computer Science of our team member. The new algorithm unifies text curation and keyword extraction algorithms with categorisation and similarity algorithms. There was no applicable information in scientific, technical, or professional literature or patents on this problem before 2022. The nearest correlation to the algorithm is research conducted by Leo Egghe's “Strong similarity measures for ordered sets of documents in information retrieval”. This engine gives accurate and efficient risk profiling across diverse product lines. The engine incorporating novel meta categorisation and analysis algorithms can aggregate and analyse multivariate information sources, such as unstructured text from attached documents, structured data, and email correspondence, and internal historical records, to provide tailored insurances policy’s that more accurately categorise risk. This includes the architecture design to categorise new insurance submissions and identify similar insurance submissions from historical records.

• Revolutionary Document Map: This module integrates all company drives, all emails correspondence, and documents coming from the Brokers module. Addresses challenges in document identification, marking, categorisation, and finding relevant policy, submission, and given quote directly from the Avalion UI. The Revolutionary Document Full-text Search, and the new invented similarity and categorisation algorithms embedded inside the system can:

  • 1. Find misplaced documents;

  • 2. Automatically mark the documents for the client in the CRM;

  • 3. Automatically categorise submissions;

  • 4. Find relevant similar submissions.

• Enhanced Insurance Policy Lifecycle Management: Seamlessly tracks policies from submission, through quoting, policy binding, and retention for renewals, providing comprehensive insights into the entire policy lifecycle.

• User-Friendly Collaboration and Notes: Fosters efficient communication with a built-in sticky notes feature, facilitating collaboration and information sharing.

  • Pre-prepared Email Templates: Streamlines communication with pre-prepared emails featuring appropriate attachments. Additionally, users have the option to manually add attachments from within the system, enhancing flexibility and efficiency.

  • Automated Renewal process: Effortlessly prepares renewal emails and notifies administrators, streamlining the renewal process for enhanced convenience.

  • Submission Matching Assistance: Assists administrators and underwriters when new submissions or quotes come into the system. The system suggests possible matches and issues warnings against potential double records, optimising data accuracy and reducing redundancy.

  • Document Search with OCR: Easily searches through all previously scanned documents using Optical Character Recognition (OCR) with a full-text search, providing a quick and efficient way to retrieve information.

• Optimised Workflow for Insurance Products: Navigates insurance products markets with ease using the specially designed workflow for managing and categorising insurance submissions.

• Access Level Security Groups: Tailors access levels to match your organisational hierarchy, ensuring secure data access from clients, brokers, insuring agency admins, underwriters, and superadmins.

• Comprehensive Reporting Capabilities: Accesses detailed reports on submissions, clearance records, monthly policies, monthly renewals, and bordereau reports, empowering data-driven decision-making.