How Indico Data helps insurance companies deal with data

Founded in 2014, Indico Data transforms unstructured data into actionable insights. The AI and ML-powered Indico Unstructured Data Platform helps enterprises of all sizes to automate, analyse, and apply unstructured data, documents, emails, images, videos and more, to a wide range of workflows. 

Using Indico's software, customers insights that maximise the value of existing software investments, including RPA, CRM, ERP, and BI, by allowing these systems to work with unstructured data.

Headquartered in Boston, MA, Indico serves leading insurance, financial services and banking, real estate, and other data-intensive enterprises. The company was recently recognised by The Boston Globe as a Top Place to Work, and in BuiltIn Best Places to Work Boston. The company's executive founding team was named to the 2022 Forbes 30 Under 30.

Dealing with unstructured data in the insurance industry 

For decades, the insurance industry has been reliant on paper processes, much of which remains untouched because extracting relevant data is often too time and labor intensive. The AI-driven Indico Unstructured Data Platform enables insurance companies to easily extract valuable insights from previously untapped data, helping them to be more efficient, competitive, and innovative.

Indico Data, has recently joined the Guidewire's Insurtech Vanguards program, an initiative led by Property and Casualty (P&C) cloud platform provider Guidewire, to help insurers learn about companies of interest to the P&C industry.

"The insurance industry faces a unique challenge in dealing with the massive and growing problem of unstructured data," said Laura Drabik, chief evangelist at Guidewire. "Indico provides value to our P&C community in supporting their unstructured data initiatives. We look forward to facilitating deeper connections for Indico with valued customers and partners in the insurtech space." 

Engaging with companies to improve data 

Insurtech Vanguards is a community of select startups and technology providers that are bringing novel solutions to the P&C industry. As part of the programme, Guidewire provides strategic guidance to and advocates for the participating insurtechs, while also connecting them with Guidewire's P&C customers.

"Indico Data's customers in the insurance industry have identified over US$100mn in cost savings after deploying our unstructured data platform across their organisation," said Tom Wilde, CEO, Indico Data. "As a member of  Guidewire's Insurtech Vanguards program, we plan to engage with more P&C companies to automate, analyse, and apply the untapped, unstructured data in their enterprises. We're solving a massive challenge for insurtech companies that rely on thousands of custom forms and documents that would typically be processed and analysed manually."