Exdion Streamlines the Broker Commercial Insurance Quotation Process
PLANO, Texas–(BUSINESS WIRE)–Exdion Services Inc. today announced Exdion Quote Compare, an innovative broker insurance carrier quotation analysis solution that manages the insurance quotation solicitation and comparison processes for insurance brokers and agents.
Exdion Quote Compare compiles quotations from multiple insurance carriers in an easy-to-understand format for all lines of insurance risks. It helps identify the best coverage and price in quick time especially for complex risks, a common challenge for both middle market and large brokers. It will also manage any quote from any carrier regardless of the data format.
Exdion Quote Compare is a part of Exdion Edge, a comprehensive broker platform powered by Exdion XTRACT, a software engine that will analyze unstructured data using artificial intelligence and machine learning.
“Today, brokers collect carrier quotation data manually. With Exdion’s Quote Compare tool we automate the collection and analysis procedures to help Account Managers and CSRs complete this important process instantly with a high level of accuracy,” explained Exdion’s Sandeep Deva, vice president of product development.
Exdion Quote Compare improves broker’s internal administrative process and enhances customer service. Specifically, Exdion Quote Compare reduces agent/broker backend costs, improves the speed and accuracy of the quotation process, increases administrative efficiency, and provides new insights into the client’s risks.
Exdion Quote Compare reduces the time to bind from weeks to just days. It will manage both renewals and new business so brokers can build stronger customer relationships.
The automated Exdion Quote Compare process identifies the key factors that best suits the needs of the client. The Quote Compare tool checks for coverage, limits, exclusions, retentions, and premium pricing to determine the ideal quote. All this appears in an easy-to-read summary in Excel format. Every line of business in the quote is listed separately.
Currently many of the largest brokers now use the Exdion Policy Checking software which is part of the Exdion Edge software platform. Additional automated processes and analytical tools which comprise Exdion Edge will be introduced to the market over the coming months.
About Exdion Solutions
Exdion Solutions is an Insurtech company that partners with Insurance agencies and brokers to digitally transform and enable future ready businesses. Servicing several of the most successful global insurance businesses, Exdion Solutions focuses on delivering sophisticated technology through simple, flexible, and affordable engagement models. Exdion delivers a suite of digitization tools and platforms that work in tandem with agency management systems cutting across new business generation, renewals, and compliance.
Scott Public Relations