xRate Context
The initial rollout was the base of knowledge, followed by enabling actions and routines. This update adds our xRate database of state level carrier filings for rate and coverage form changes, new programs, market exits, and so on. It is filterable by obvious stuff like carrier, state, line of coverage, and also includes AI processing to apply contextual filters like sentiment, impact and filing effect. At the risk of sounding redundant, simple.
What this means – you can now task an agent to research your renewal carriers for upcoming changes, like a rate increase, or exclusion they’re adding to CGL, and not just let you know, but let you know what you can do about it (i.e. alternative markets). How else would an AI know if there was an at-risk renewal without this type of context? (Answer: it can’t)
We also added what goes into TalkPoint, which is cohort analytic level (e.g. sic/state/size specific percentiles for LCM, Premium, Mod, Carrier) data.
All of this leads to a better equipped agent that can perform redundant tasks, create prospect specific content of all mediums for outreach, and with xRate you now have a forward-facing view of what is on the horizon to do so, as well as an early detection radar for your renewal book. Check out the updated KB write up.