Praxos – AI workbench for insurance brokers
Review risk, craft programs, and keep an audit trail of your clients in one place.
TL;DR
Praxos allows insurance brokers to automate their operations—from filling out applications to crafting proposals and comparing coverages—in one place. This enables brokers to stand out and close more deals in an industry where service speed is critical, but mistakes are costly.
Problem
Insurance brokers spend 95% of their time reading through hundreds of pages of client files and entering information from one document to another. They must also keep logs of their activities and client information to comply with regulations.
Solving these problems requires a system that can extract data from all insurance documents. No solution has ever been able to achieve this, until now.
Solution
An AI-powered workspace for insurance workflows that enables brokers to generate any document they need in 3 clicks.
Today, Praxos does two things. First, it fills out insurance applications by extracting document data from brokers' clients.
Second, Praxos condenses the detailed quotes returned by insurance companies into easy-to-read comparison tables that brokers and their clients can use to pick the best policy. For a typical business, these two tasks take more than 20 hours of painstaking work from trained experts.
Meanwhile, every change to the data is logged in the background, ensuring that brokers always have a paper trail ready for their auditors.
So what?
Insurance professionals using Praxos report:
- 90% decrease in time spent generating documents.
- Zero time spent logging activity.
- Faster deal closure, with service times dropping from weeks to hours.
Team
We are a team of AI nerds, ex-risk managers, and product builders who got tired of drowning in insurance paperwork. Instead, we'd rather use technology to help our peers focus on more engaging parts of the job… and make sure that businesses and people have the correct protection to handle catastrophe when it happens.
- Modeled and managed risk at Santander's Sales & Trading desk.
- Graduated with a degree in Applied Mathematics from Harvard.
- Modeled Litigation and Cyber risk at Aon, the world's second-largest insurance broker.
- Graduated with a degree in Computer Science from Harvard.
Ask
We're live and onboarding insurance brokers daily.
Know any brokers? We'd love an introduction!
Drop us a note at lucas@praxos.ai.
Many thanks for your support! ❤️
Lucas & Soheil