Ann Arbor-based Groundspeed and New York-based Unqork, have announced a new strategic partnership to allow various carriers and brokers throughout the industry to become more agile and operational in the market. The partnership could lead to better service for customers, drive a better risk-selection, or even improve the time-to-quote.
Using artificial intelligence and smart technology, Groundspeed is a provider of SaaS-delivered analytic solutions for the casualty insurance industry whereas Unqork is a major no-code platform.
Groundspeed works to reduce costs, provide key solutions, and help analyze data for brokers and carriers in a way that has never been seen before, says Jeff Mason, CEO of Groundspeed. He says, currently, the company’s key ability is the evaluation of submitted documents that may withhold more value than anyone would expect.
Current strategies for the underwriting process of the documents lack the key steps in analyzing various details that may lead companies to more possibilities. Groundspeed’s artificial intelligence makes this possible and revolutionizes the process in its entirety. Now that Groundspeed plans to partner with Unqork, Mason says, they will have the ability to apply their software solutions to Unqork’s no code platform, allowing both to achieve their current goals tenfold.
“This partnership provides insurance carriers and brokers with industry-leading solutions to dramatically accelerate operational and underwriting processes, and increase their agility in the market,” Mason says. “Through the advanced technology in this partnership, the insurance industry can focus on innovating for their customers.”
Unqork works to enable companies to create task-specific applications that are capable of handling complex and intricate problems. All of this can be done by the company without having to write a single line of code behind the programs.
Farooq Sheikh, insurance GTM lead at Unqork says its programs allow companies to expand and provide their work efficiently and even at a faster pace. He says the strategic partnership between them and Groundspeed will enable companies not only the ability to create these task specific programs by Unqork, but also use the software and machine learning solutions by Groundspeed to take on various problems.
“We are extremely excited to team up with Groundspeed to help transform the commercial insurance marketplace,” Sheikh says. “This partnership will help commercial insurance carriers automate, streamline and accelerate insurance submission intake, rate-quote-bind, underwriting workbench and operational processes to drive revenue and improve customer service. Together with Groundspeed, we are excited to continue advancing commercial insurance — transforming the industry with advanced, efficient technology.”