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Quick Silver Systems: Infusing AI into Claims & Policy Management

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Sean Pitcher, CEO, Quick Silver SystemsSean Pitcher, CEO
The proliferation of advanced data analytics in the insurance sector has paved the way for faster claims processing and accurate assimilation of information pertaining to property damages. For instance, IoT-enabled devices and surveillance drones have played a pivotal role in assessing the destruction caused to insured properties through information that was previously unavailable to insurance providers. Such a data set can determine the propensity of risk in any given circumstance through artificial intelligence (AI) technology. However, at this juncture lies a highly critical challenge for insurers and data analysts alike. AI systems require a well-defined data set in order to deliver relevant, actionable insights quickly and efficiently, and obtaining this stream of information is not an easy task.

“The key to good AI is clean data, and we’ve been focused on aggregating well defined, clean data sets since our inception,” says Sean Pitcher, a visionary with over two decades of experience in the industry sector who also founded Quick Silver Systems. Serving as the CEO of the company, Pitcher has led Quick Silver Systems to develop the Mercury Policy Administration System – an end-to-end modular P&C Insurance processing solution, designed to incorporate disparate data sources very easily. The solution provisions seamless insurance operations through an open API that allows integration, data aggregation, and collaboration with various information touchpoints. The automated, web-based architecture of Mercury enables the open API to further align with any REST or IP based third party data vendor, providing end-to-end customizable solutions for rate, quote, bind, cancellations, renewals, reinstatements, billing, document imaging systems, among many other utilitarian functions.


The key to good AI is clean data, and we’ve been focused on aggregating well defined, clean data sets since our inception

More importantly, Quick Silver Systems has been able to craft this solution into an affordable and flexible footprint, enabling small to medium-sized insurance firms to carry out transitions toward newer technologies effortlessly. For the larger carriers who require advanced data processing through AI, Mercury encourages the exploration of innovative methodologies in analyzing data from multiple perspectives, effectively broadening the understanding of a particular incident or case. From a technical standpoint, the company has also fostered a multi-layered security approach that ensures comprehensive auditability, tracing business-critical functions to even the most fundamental user rights and groups. In addition, the built-in capability to visualize user rights and accessibility features paint a complete picture of access rights distributed, down to the discrete aspects of the solution at a particular date and time, improving the granularity of the business function. This flexibility is realized due to the multi-layered architecture deployed by Quick Silver Systems, which includes sophisticated firewalls, encryption, injection protections, and cross-site scripting protection. “We also have a system that scans our website for vulnerabilities periodically and informs us on any plausible security concerns,” adds Pitcher.

Bolstered by state-of-the-art security, coupled with a device-agnostic stature, Mercury enables the clients’ field adjusters to be able to report directly from the field. Such a feature set helps insurance organizations in reducing costs and improving response times to claims. And alongside these benefits, the company ensures to continually update its solutions, thereby rolling out newer iterations of the product to clients as and when they receive the mark of approval from QA testing routines. This client-centered approach has contributed to a steady, innovation-driven growth for Quick Silver Systems, which in turn has empowered its clients to orchestrate insurance processes without any hindrances, from any part of the world, on any device that has access to the internet. As a result, the company has been able to offer unwavering support to clients, even when faced with the vagaries of the pandemic.

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Top 10 Claims Processing and Management Solution Companies - 2021
Quick Silver Systems

Company
Quick Silver Systems

Headquarters
Bradenton, FL

Management
Sean Pitcher, CEO

Description
Quick Silver Systems offers the Mercury Policy and Claims Administration System, an end-to-end policy and claims offering for the P&C Insurance Industry. The company has developed the Mercury Policy Administration System – an end-to-end modular P&C Insurance processing solution, designed to incorporate disparate data sources very easily