Please replace the release dated February 8, 2024 with the following corrected version due to multiple revisions.
The updated release reads:
EXDION INSURANCE ANNOUNCES THREE NEW CLIENTS FOR ITS AI SOLUTIONS
Launches New Acquisition Support Services and AI Data Extraction Capabilities
Exdion Insurance, an award-winning digital and AI solution provider to the insurance market, today announced its winning of three new clients in the first month of 2024.
The company will deliver its AI led services to:
- EHD Insurance, established in Pennsylvania, is one of the largest full-service, privately held insurance brokers in the U.S. It provides a wide range of services such as employee benefits, commercial insurance, surety, personal insurance, claims, and risk control.
- Southwest Risk Management, LLC is an independently owned and operated insurance broker based in Mesa, Arizona. It is known for its knowledgeable agents, helpful service, and hands-on ownership.
- One of the top 30 U.S. brokers with 2022 revenue in excess of $290 million, a renowned leader in providing innovative property, liability, and employee benefit insurance solutions.
“Positive word-of-mouth from our existing clients influenced these esteemed brokers to choose Exdion as a partner for their digital transformation journey,” stated S. Steven Salar, President and Head of Exdion Insurance. “Starting the year with these victories demonstrates the value of our innovative AI and analytics solutions, top-tier personnel to support all stages of digitization, and end-to-end engagement models. We are looking forward to helping more insurance brokers experience substantial business benefit in the coming quarters.”
Salar continued, “Our clients will derive even more benefits with this month’s launch of Exdion’s AI data extraction capabilities. This new offering allows an agency to improve its pre- and post-acquisition requirements by doing a quick and rigorous agency block analysis of its portfolio. The agency can then leverage this data to assist in determining the desirability and pricing of future acquisitions.”
Technology enablement is a major problem and opportunity for brokers seeking a competitive advantage and to future-proof their firms. Manual policy checking, whether outsourced or managed by agency workers, is a slow and wasteful procedure that has remained unchanged for a century, despite increased customer expectations for a better and faster digital experience. The time-consuming task of assessing and routing policy implementation depletes agencies’ customer interaction capability. The bandwidth of essential staff can be better used to engage with consumers and promote the agency’s growth.
When insurance companies use Exdion’s AI solutions, they see significant increases in productivity, efficiency, and revenue. With Exdion’s AI technology solutions, agencies have saved at least 50% on policy verification, boosted binding speed by 35%, reduced E&O risks, and eliminated manual data entry entirely. All these benefits occur within the first year of adoption. Exdion’s current customers report considerable gains in customer interactions because of improved data integrity.
About Exdion Insurance
Exdion Insurance is a digital and AI strategic partner as well as a full-service consulting firm, providing end-to-end solutions suited to the specific needs of insurance agencies and brokers. Exdion serves some of the most successful global insurance companies, bringing advanced technology through easy, flexible, and cost-effective engagement methods. Exdion provides a portfolio of digitalization tools and platforms that integrate with agency management systems, including new business development, renewals, and compliance.
Visit www.exdioninsurance.com to learn more about the company.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240208513330/en/