Pyq, Inc., a Y Combinator-backed workflow automation firm, launched ‘Mulligan’, an all-in-one platform for automating business insurance coverage brokerage operations. The brand new system is designed to assist businesses automate and simplify quoting, coverage evaluation, fee reconciliation, and submission processing right into a single interface.

The platform goals to get rid of back-office inefficiencies which have lengthy affected insurance coverage brokers, who typically handle workflows throughout dozens of fragmented methods and provider portals. In keeping with Pyq, the Mulligan platform can automate as much as 80 per cent of repetitive back-office duties, chopping processes that beforehand took hours all the way down to minutes.

“For many years, brokers have been compelled to handle quoting, submissions, and coverage evaluation throughout dozens of fragmented methods and provider portals,” stated Aman Raghuvanshi, chief govt officer and co-founder of Pyq, Inc. “Mulligan takes care of the busywork for you. It reads and compares insurance policies, logs into provider portals, and builds proposals multi functional tidy workflow. What beforehand took hours can now occur in minutes, liberating brokers to deal with purchasers, alternatives, and really rising their enterprise.”

A unified platform for brokerage workflows

Mulligan is designed to deal with the end-to-end business insurance coverage workflow, integrating a number of key brokerage capabilities into one system.

For Quoting, the platform centralises business traces, automating 70 to 90 per cent of the workflow for insurance policies together with common legal responsibility, business auto, and staff’ compensation. Brokers can add any doc sort, equivalent to ACORDs or earlier insurance policies, and the platform automates logging into provider portals and getting into buyer information to retrieve side-by-side quotes. The system additionally syncs with main company administration methods, together with Utilized, EZLynx, AMS360, and Veruna.

For Coverage Evaluation, Mulligan simplifies the evaluation course of by permitting customers to add a number of insurance policies to match protection language, limits, and endorsements side-by-side in seconds. The corporate studies that early adopters are saving over eight hours per dealer per week and chopping evaluation errors by 95 per cent.

The platform additionally automates Fee Reconciliation by processing provider fee statements. It extracts and codecs all information, even from scanned paperwork, for direct import into company administration methods. This course of, which beforehand took hours, can reportedly be accomplished in below two minutes.

Lastly, the Submissions function standardises the creation of submission packages for underwriters. It consolidates varieties and attachments, robotically populates ACORD fields for varied business traces, and validates the submission towards provider necessities, producing an entire bundle in below 5 minutes.

Scaling operations for business businesses

The platform is SOC 2 Kind II compliant, making certain safety and auditability for brokerage operations. By automating probably the most repetitive duties, Mulligan is meant to assist small and enormous businesses scale their operations and enhance effectivity with out rising employees.

Pyq, Inc., which builds the Mulligan platform, is backed by traders together with WillowTree Ventures, Y Combinator, and outstanding insurance-industry angels. The corporate’s mission is to streamline back-office workflows to permit insurance coverage professionals to deal with client-facing actions and enterprise progress.