3 Mins Read • July 8, 2024
Injala Launches Next-Generation Insurance Verification Solution Asuretify.
Leading insurance technology company Injala officially unveils the public release of Asuretify 2.0, heralding a significant leap forward in property and casualty (P&C) insurance verification and COI tracking. Developed in collaboration with key enterprise partners, Asuretify is ready to transform the risk transfer landscape. The system delivers cutting-edge artificial intelligence (AI) features that dramatically improve compliance review accuracy while reducing review time by 90% or more.
Engineered by a team with decades of experience in the insurance industry, Asuretify’s technology provides unparalleled capabilities for reading and understanding insurance documents at high volume. Most insurance verification systems are limited to reading certificates of insurance (COIs), which offer limited information about the underlying coverage. Asuretify is not only able to pull information from COIs, but can also read and understand complete insurance documents, including policies and endorsements, extracting critical information buried in legal language.
COIs not only lack depth of information but also struggle with issues of inauthenticity. COIs inherently lack a chain of custody for the document, meaning that the accuracy of the information contained therein comes into question. In fact, studies show that 90% of COIs contain material misrepresentation about the underlying policies. Most organizations, overwhelmed by the sheer volume of compliance reviews, never think to question the validity of documents that may be outdated or even fraudulent.
The key to overcoming this flaw is to be able to trace the origin of the document, ensuring that it reflects accurate information. Asuretify drives towards identifying the origination of the information and tying it back to the source, bolstering the authenticity of the documents reviewed. This is a game-changer that signals a paradigm shift in insurance verification, enabling teams to establish a higher degree of trust while completing reviews faster and more accurately than ever before.
Asuretify offers technical capabilities rivalling those of an experienced risk professional, providing insights previously limited to individuals with years of experience and advanced degrees and certifications. On top of reducing manhours required for insurance compliance review, Asuretify acts as a user-friendly training tool and virtual mentor for new risk managers still learning the intricacies of their industry.
Asuretify simplifies subcontractor insurance verification through AI-powered analysis of both certificates of insurance (COIs) and actual policy documents. Its technology can review full policies end-to-end to extract key provisions, limits, exclusions, and any discrepancies that could leave you vulnerable. This ensures you have the full picture of coverage, not just surface-level certificates that lack details and may not accurately represent what’s in the policy.
Originally developed as part of Injala’s wrap-up insurance (CIP) management platform, WrapPortal, Asuretify is a mature technology that boasts enterprise clients with over 300,000 vendors and subcontractors. Businesses can utilize the platform to manage their insurance verification workflows themselves or engage with Injala’s experienced Professional Services team to manage the review process for them.
Naqvi celebrates the transformative impact of Asuretify, stating, “Asuretify represents a paradigm shift in how insurance verification is conducted. By automating and enhancing the verification process, we’re not just addressing industry challenges, we’re setting a new standard for accuracy and efficiency.”
Asuretify, powered by Injala, signifies a strategic leap forward for insurance verification toward a future where reviews are both accurate and efficient. Sign up for free today at Asuretify.com to access the next generation of compliance tracking technology.
Injala is accelerating the transition towards a future where insurance and risk management is easy, accessible, transparent, while establishing trust and making processes frictionless. This has manifested through a full suite of AI-powered insurtech solutions designed to streamline workflows and improve operational efficiency with unparalleled speed and precision, built in collaboration with industry giants. Injala’s commitment to transforming risk management through data-driven decision-making and cutting-edge software technology makes it the trusted choice for clients seeking to navigate the complexities of commercial insurance with ease and confidence. For more information, www.injala.com .
