Business Category: A technology provider of InsurTech tools to insurance practitioners
Maturity Status: Emerging (actively in the marketplace but product is not in production)
Product or Service: BobTrak – the AI engine for distribution channel management
Area: Property & Casualty and Life & Health insurance
BobTrak builds enterprise software for Insurance and Financial Services providers to help them manage and analyze their distribution channels’ books of business.
The application is most cost-effective for carriers and large brokers, especially if they have a large number of legacy systems.
What makes us an InsurTech:
BobTrak will manage and maintain a provider’s links between it’s producers and the policies they service. User-defined rules will aggregate the values of the relationships over time, and will also calculate commissions and bonuses for the producer hierarchies. And finally, the robust data model allows BobTrak’s AI engine to analyze the data to drive new business and identify fraud and churn, enhancing the provider’s top and bottom lines.
Major features & technology used:
Open source tools (PostgreSQL / Python / Docker) for the application.
The AI engine is still being nailed down.
BobTrak, Inc., makes software to manage insurance providers’ books of business – the links between customers, policies, products, producers, and business events. BobTrak maintains date-effective servicing relationships, allocates transactions to the correct producer hierarchies, aggregates values across time, and calculates commissions and bonuses. In addition, BobTrak’s deep analytics into the data can provide valuable insights for enhanced revenue, improved compliance, and a better producer experience.
For more information, visit bobtrak.com.
Source: BobTrak, Inc.