Two entrepreneurs in the insurance and group benefits space have built a piece of insurtech that bypasses a roadblock in the quotes process – and it promises to put the joy back into insurance roles dogged by formatting spreadsheets.
Untangler uses artificial intelligence to recognise inbound customer or employee data in any format, transforms it into readable data, and returns it in seconds so providers can create quotes without having to convert the data within cells.
It mimics a low-skilled task that, in some cases, highly-qualified humans in insurance companies end up doing manually, freeing up people to do more meaningful and fulfilling work.
Richard Stewart and Steve Carter (pictured below) initially built the software for their startup business, Untangl, which sets up SMEs with bundled employee benefits, including life cover and private medical insurance. The early version of the technology allowed SME employers to upload any employee data they had without needing to change the format to make it compatible.
Untangler CEO Richard Stewart said: “Admittedly, we built Untangler as an afterthought because it improved the customer journey and sped up our buying process. It was only later, when a leading UK insurer asked if they could use it, that we realised its true value as a standalone product that solves a big industry problem.
“It has long been expensive and time-consuming to manually reformat data files and challenging to build integration interfaces to third-party systems and, anyway, data often comes from multiple sources in non-standard formats.
“Untangler can be trained to learn and identify the relevant items needed and does a range of other jobs like fixing errors. It’s really easy to use: users drop their data in and out pops the data in the right format, all automatically.”