Cortex by Markel Cuts Underwriting Time to 5-10 Minutes with AI

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Cortex by Markel, built with Bain, took a one-to-two-day underwriting process down to 5 to 10 minutes by reimagining it entirely with AI. CEO Simon Wilson shares how a startup mentality is reshaping speed and market opportunity: https://atbain.co/4i8wzJh

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Faster responses could shift the mix of risks an insurer ends up writing. In casualty lines, claims can take years to develop. Grouping policies by when they were written and by risk profile, then comparing claims at similar stages of development, makes the results more comparable. Changes in pricing and coverage still need to be considered. How should emerging claims evidence feed into the assessment of new submissions?

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AI-driven underwriting can reshape insurance operations by reducing turnaround times while helping teams focus on higher-value decisions. 

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