IntellectAI, the InsurTech division of Intellect Design Arena, has unveiled Magic Placement, a new AI-powered solution designed to overhaul the way agents, brokers, and wholesalers compare insurance documents.
The tool, which operates on the firm’s proprietary Purple Fabric platform, applies Agentic AI and Large Language Models (LLMs) to deliver faster, more accurate, and consistent outcomes in the placement process.
The insurance sector faces ongoing challenges with manual comparison of quotes, binders, and expiring policies—tasks that are both time-consuming and prone to error. These inefficiencies can lead to operational delays, missed business opportunities, and greater exposure to errors and omissions (E&O) risks. Magic Placement aims to eliminate these bottlenecks by automating document analysis and insight generation.
Built specifically for distribution partners, Magic Placement uses generative AI agents that autonomously extract and compare key information from multiple insurance documents. This enables users to instantly identify discrepancies, streamline underwriting decisions, and reduce manual intervention.
The tool is underpinned by Purple Fabric, IntellectAI’s Business Impact AI Platform, which orchestrates intelligent workflows across insurance operations. It enables scalability and adaptability while delivering industry-specific insights that support more informed decisions in real-time.
IntellectAI CEO Banesh Prabhu said, “Manual document comparison is one of the most inefficient and risk-prone parts of the placement process. Magic Placement, built on our proprietary Purple Fabric platform, completely redefines how agents, brokers, and wholesalers approach it—automating the work, reducing E&O exposure for both the insured and the distributor, and giving them back time to focus on placing smarter and faster.”
Sandeep Haridas, EVP and insurance business head at IntellectAI, added, “The insurance industry has made impressive strides in adopting automation across underwriting and operations, yet distribution—particularly the placement process—remains stubbornly manual, time-intensive, and error-prone. Many firms still rely on offshore BPOs for basic support, which only scratches the surface of what’s possible.
“With Magic Placement, we’re reimagining what placement can look like. By harnessing the power of Large Language Models and Agentic AI—brought to life through the orchestration layer of our Purple Fabric platform—we’re enabling a smarter, faster, and more accurate placement experience. This is a clear example of how IntellectAI is solving real-world challenges in insurance distribution with the next generation of AI.”
Magic Placement reflects IntellectAI’s broader mission to empower insurance distributors with intelligent, scalable tools that address longstanding inefficiencies. By embedding AI into key processes, IntellectAI helps firms modernise operations and stay competitive in a rapidly evolving market.
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