Product Update
AccountAim Ingest covers even more ground this month, as we’ve added the following carriers to our library of automatically extractable carrier statements. AccountAim Ingest now pulls structured data out of statements from these carriers:
- Erie
- Travelers
- Amwins
- Aetna
- EBCA
- Steadily
- Progressive
- Philadelphia Insurance Company
- State Auto
- Main Street America
- Liberty Mutual
Auto-pull statements from any of them and cut down on the time and error it takes to re-key data, so your team can go back to selling.
Any format, any industry
These eleven carriers cover a broad range of support.
- High-volume national P&C carriers, where the sheer count is the problem: Travelers, Liberty Mutual, Progressive
- Specialty and wholesale sources with their own nuanced naming conventions and structure: Amwins, Philadelphia, State Auto
- Benefits statements that vary greatly from P&C statements: Aetna, EBCA
- Newer program carriers like Steadily
Not to mention, AccountAim Ingest avoids the whack-a-mole of keeping up with various formats. Some carriers update formats without mention. Some offer PDFs, some Excel, some images, and some with edits in pen!
“We’d automated extraction on our own, but carrier statements were always changing and breaking our process.” – Steve Soliday, Director of Sales and Analytics at ABP Insurance
What it looked like for ABP Insurance
ABP works with dozens of carriers. Every month, each one posts a commission statement to its own portal, on its own schedule, in its own format. Some in Excel, some as PDFs, a few of the excess-and-surplus statements literally mailed in and scanned. Pulling them all together used to eat the first three weeks of the month, one person opening files and moving numbers into a spreadsheet by hand.
Ingest converted all 125 of those statements automatically. The data came out cleaner, and the hours that used to go into extraction went to higher value work. ABP’s leadership could look at the strategic side of compensation instead of the clerical side of it.
That is the whole reason we keep adding carriers. Our goal is to get leadership focused on the takeaways and actions that actually drive profit.
Each carrier added saves time and adds a piece of the overall business picture for customers.
How it holds up
Ingest is the data engine already running underneath AccountAim’s commission reconciliation and bordereaux tools. We opened it up as its own starting point. Three things made the ABP result possible.
It doesn’t use templates. OCR and template tools fall over the moment a carrier reformats. Carriers can change layouts on a whim, without notice. Ingest adapts on its own, which is why ABP could run 125 varied statements without anyone configuring a thing, and it’s why we add carriers fast.
It takes any format. PDF, Excel, CSV, scanned images. Messy input is the assumption, not the failure case.
It’s quick to a first result. Teams get structured data out of their first statement within a few minutes. No big implementation required.
Clean data leads to recovered dollars
Structured statements are the start, not the finish. Once the data is clean, Commission Intelligence reconciles it against your AMS and flags where the carrier paid you less than your contract says, the underpayments and true-up gaps that turn into recovered commission. Ingest ends the data entry. Commission Intelligence finds the money.
Try it on a statement you already have
Run one of these carriers through it yourself. Drop in your next Travelers or Liberty Mutual PDF and watch it come back as reconciliation-ready data. We add carriers all the time, so tell us which one you want next.