New Capability Automates Analysis of Loss Run Data from Any Carrier Format for Rapid and Precise Claims Intelligence
Outmarket AI, the leading AI platform purpose-built for insurance, today announced the launch of its expanded Loss Run capabilities. This new intelligent document processing feature automatically converts unstructured carrier loss run documents into standardized, structured claims data and automated reports. In partnership with Loss Run Pro, Outmarket now enables agencies to automate the ordering process for loss runs. From there, Outmarket automates the processing without the need for manual intervention. The capability enables insurance professionals to eliminate manual data entry, radically accelerate claims analysis, and deliver higher-quality risk management deliverables to their clients.
With this release, Outmarket AI continues to expand the breadth of its platform, which supports more insurance workflows than any other product on the market. Several of Top 100 insurance agencies consistently choose Outmarket because the team deeply understands the industry, agency pain points, and processes. In partnering closely with customers to understand unique challenges, Outmarket ensures agencies achieve exceptional results on the platform.
Loss runs are foundational to insurance operations, yet the process of extracting usable data from carrier-issued loss run documents remains one of the most labor-intensive tasks in agency operations. Every carrier produces loss run reports in a different format, and many deliver data as unstructured PDFs that are difficult to parse. Agency staff spend hours manually entering claims data into spreadsheets, cross-referencing totals, and reformatting information for client deliverables.
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Outmarket AI addresses this challenge by applying advanced AI and intelligent document processing to automate the entire loss run workflow, from document ingestion to structured data output, analysis, and client-ready reporting. The platform accepts loss run documents in any carrier format via simple drag-and-drop upload. Outmarket AI’s extraction engine parses each document, identifies individual claims, and accurately converts them into standardized structured data, regardless of how the carrier formatted the original PDF.
“Loss run analysis is one of the most time consuming yet critical workflows in insurance operations,” said Vishal Sankhla, Co-Founder and CEO, Outmarket AI. “Every agency we work with has staff spending hours manually extracting claims data that arrives in a different format. We built Outmarket Loss Runs to solve this problem from end to end. This is not just a time saver, the improved accuracy we achieve with AI empowers agents to make informed decisions faster.”
Key Features of Loss Run Extraction:
– Universal Carrier Format Support: The platform accepts and parses loss run documents from any insurance carrier, regardless of format or structure.
– Claim-by-Claim Extraction and Review: Every claim is extracted individually and presented in a side-by-side review interface. This shows the extracted data alongside the original source document page for rapid verification.
– Automated Discrepancy Detection: The system compares extracted totals against document-stated totals and flags any variances.
– Natural Language Claims Querying: A conversational AI interface allows users to ask questions of their claims data in plain English, and get real-time analytics in response.
– Comprehensive Excel Export: The multi-tab, branded Excel export includes all claims data, summary by line of business, open claims lists, claims by year with graphics, incurred by year, and frequency and severity analysis. Exported reports automatically incorporate the agency’s logo and color scheme.
– Automated Loss Run Ordering: Outmarket AI integrates with Loss Runs Pro to enable automated loss run ordering directly from within the platform. Agencies can connect their Loss Runs Pro API key and set up automated ordering rules, such as 60, 90, or 120 days before renewal. When a carrier provides the documents, they are automatically synced into Outmarket AI and processed without manual intervention.
For insurance agencies and brokers, the capability delivers measurable operational improvements by eliminating hours of manual data entry. It provides structured loss data and client-ready reports in minutes, vastly accelerating the renewal and marketing process. Loss run data from multiple carriers can be combined into a single unified view per client, enabling cross-carrier claims analysis and consolidated reporting. Critically, the integration with Loss Runs Pro ensures a seamless process across the tools and systems that agents use every day.
“At Loss Run Pro, our mission has always been to remove the friction from acquiring loss runs,” said Reghan Brandt, Founder and CEO, Loss Run Pro. “That’s why we built an open platform designed to integrate with whatever tools and partners our agencies choose to work with. Partnering with Outmarket AI is a great example of that in action — once LRP obtains the loss run documents, they can sync seamlessly into Outmarket, giving agencies more flexibility in how they put that data to work.”
Outmarket AI’s Loss Run capabilities are currently available within the Risk Management tab of the platform. The Loss Run Pro integration for automated loss run ordering is available now via API key connection in the Integrations settings.
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