Case Study: a largest managing general agency achieves 30x faster submission processing with FurtherAI

One of the largest Managing General Agencies (MGA) in the U.S., with over $1.5 billion in premiums across 20+ insurance programs and serving more than 1 million policyholders, sought to streamline its underwriting process

A large U.S. managing general agency (MGA) faced the critical, yet entirely manual, challenge of processing property insurance submissions. The labor-intensive process of extracting and structuring data from highly variable documents like ACORD forms and statements of value (SOVs) created a significant bottleneck, preventing the organization from beginning the underwriting process efficiently. To overcome this, the MGA partnered with FurtherAI and implemented its AI Assistant.

FurtherAI’s solution automated the submission intake process, extracting and standardizing data from various documents, enriching it with third-party sources, and performing automatic eligibility checks. This resulted in a processing speed that was 30 times faster, reducing the average time to clear a submission from 32 minutes to about one. The AI Assistant also delivered a 200%+ gain in underwriting efficiency and achieved near-perfect accuracy, saving over 2,000 hours of manual effort and processing over $20 billion in Total Insured Value within the first three months.