Specialist insurance provider CFC has launched Lane Assist, a “world-first” pilot for specialist insurance agent underwriting that reportedly takes just seconds from email submission to quote recommendation.
“By automating the data extraction and quote construction of low-complexity submissions, agency underwriting has the potential to significantly speed up the broker’s process from inquiry to quote, particularly on high-volume, mass-preference risks,” the CFC explains.
Lane Assist, hailed as a world first in specialist insurance by CFC, is designed to increase the proportion of low-touch processing submissions, delivering faster and more consistent responses while maintaining underwriting quality.
“For brokers, this means less friction, shorter turnaround times and greater confidence that simple risks are progressing effectively, allowing underwriters to focus their expertise on complex and specialist inquiries where their insights can add the greatest value,” the CFC said.
Lane Assist, which will launch this month, has gone live as a pilot for CFC’s network underwriting team, engaging a small number of real new business submissions reviewed by underwriters in a real-time workflow and generating real quotes.
The company added: “This pilot represents the first step in CFC’s deployment and expansion of agency underwriting, supporting faster and more consistent quotes while retaining underwriting judgment. Lane Assist uses CFC’s established underwriting rules and practices to prepare quotes, and each recommendation is reviewed, inspected and approved by the underwriter before being issued.”
Chris Mullan, head of data and AI at CFC, commented: “Lane Assist represents a real step change in how artificial intelligence can be used to responsibly enhance underwriting.
“This is not a lab experiment, but working with real submissions in a real-time workflow. By starting small, we can validate results, learn quickly and ensure the technology fully supports our underwriters, rather than overriding their judgment.
“This pilot puts us firmly at the forefront of our AI journey. Our focus is on expanding agency underwriting in a truly valuable way – for brokers, underwriters and ultimately our clients.”
