IntellectAI has launched Magic Placement, a new AI-driven tool designed to streamline insurance policy comparison for agents, brokers, and wholesalers.
The solution leverages IntellectAI’s Purple Fabric platform and uses Agentic AI and Large Language Models (LLMs) to automate the review of complex documents like quotes, binders, and expiring policies.
Traditional placement processes are often slow, error-prone, and reliant on manual work or offshore support. Magic Placement aims to eliminate these inefficiencies by using generative AI agents that automatically extract, compare, and deliver actionable insights from multiple documents. This speeds up placement decisions, reduces errors, and helps distributors offer better service.
IntellectAI CEO Banesh Prabhu said, “Manual document comparison is one of the most inefficient and risk-prone parts of the placement process. Magic Placement, built on our proprietary Purple Fabric platform, completely redefines how agents, brokers, and wholesalers approach it—automating the work, reducing E&O exposure for both the insured and the distributor, and giving them back time to focus on placing smarter and faster.”
Sandeep Haridas, EVP and insurance business head at IntellectAI, added, “The insurance industry has made impressive strides in adopting automation across underwriting and operations, yet distribution—particularly the placement process—remains stubbornly manual, time-intensive, and error-prone. Many firms still rely on offshore BPOs for basic support, which only scratches the surface of what’s possible.
The platform is tailored for insurance distribution, offering faster turnarounds, reduced E&O exposure, and improved decision-making. It’s part of IntellectAI’s wider commitment to transforming insurance with intelligent automation and domain-specific AI.
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