Intellect Design Arena Ltd., a global leader in enterprise-grade financial technology, has announced the availability of Purple Fabric Magic Loss Runs in the new AI Agents and Tools category of AWS Marketplace. This AI-powered, containerized solution, built on Purple Fabric, empowers customers to easily discover, purchase, and deploy automation tools for extracting, validating, and processing insurance loss run documents directly within their AWS accounts, thereby accelerating the development of agent and agentic workflows. Purple Fabric Magic Loss Runs assists insurance carriers, managing general agents (MGAs), and brokers in expediting underwriting decisions by utilizing advanced AI to process loss run documents in any format. It extracts and validates critical claims data, delivering structured outputs with minimal manual intervention. The solution is engineered for speed, accuracy, and scalability, aiming to eliminate manual data entry, reduce transcription errors, standardize data from various carrier formats, and enhance risk assessment with comprehensive claims insights. Ultimately, this leads to reduced operational costs, improved processing times, and enables straight-through processing for routine renewals. The solution leverages Large Language Models (LLMs) to extract data from loss runs with over 95% accuracy across all document formats, including handwritten notes, Excel files, images, and PDFs. Purple Fabric provides the necessary intelligence, scalability, and trust to effectively embed AI into enterprise processes. “By offering Purple Fabric Magic Loss Runs in AWS Marketplace, we’re providing customers with a streamlined way to access our no-touch loss run extraction technology, helping them buy and deploy agent solutions faster and more efficiently,” stated Banesh Prabhu, CEO of IntellectAI. “With Purple Fabric at the core, this solution reflects our design-first approach to AI deployment, where scalability, governance, and business impact are foundational. Our customers in the insurance industry are already leveraging these capabilities to achieve up to a 90% reduction in loss run processing time and a 35% improvement in data accuracy, demonstrating the tangible value of AI-powered loss runs.” Key features of Purple Fabric Magic Loss Runs include cognitive extraction of structured and unstructured documents, claims data validation, data normalization, loss trend analysis, exception handling, and multi-format output via JSON, CSV, or APIs. These capabilities enable clients to accelerate underwriting decisions with accurate, standardized claims data and actionable insights, reducing manual errors, enhancing risk assessment, and lowering processing times at scale. With AWS Marketplace's new AI Agents and Tools category, customers can significantly streamline their procurement process for AI innovation, cutting down the time spent on vendor evaluations and complex negotiations. Centralized purchasing through AWS accounts also ensures customers maintain visibility and control over licensing, payments, and access. Purple Fabric Magic Loss Runs is available as a container image, supporting deployment on Amazon ECS, Amazon EKS, or any Docker-compatible environment. This allows for flexible deployment across AWS environments, configuration via environment variables or AWS Systems Manager Parameter Store, and seamless integration with document sources like Amazon S3 and downstream underwriting systems. To learn more about Purple Fabric Magic Loss Runs in AWS Marketplace, visit the AWS Marketplace product page. For details on the new AI Agents and Tools category, explore AWS Marketplace AI Agents and Tools.

Source: FF News on August 14, 2025

Frequently Asked Questions (FAQ)

What are Loss Run Documents?

Loss run documents are reports provided by insurance carriers that detail an insured party's claims history over a specific period. They are crucial for underwriting and risk assessment.

How does Purple Fabric Magic Loss Runs use AI?

Purple Fabric Magic Loss Runs utilizes Large Language Models (LLMs) and advanced AI to automatically extract, validate, and process data from loss run documents, regardless of their format.

What benefits does this solution offer to insurance companies?

Insurance companies can benefit from faster underwriting decisions, reduced operational costs, fewer processing errors, and improved data accuracy by automating the processing of loss run documents.

What document formats can Purple Fabric Magic Loss Runs handle?

The solution can process loss run documents in virtually any format, including handwritten notes, Excel files, images, and PDFs.

How does this solution accelerate agent and agentic workflows?

By providing a streamlined, AI-powered automation tool for loss run processing, it enables faster development and deployment of agentic workflows, reducing manual effort and speeding up decision-making processes.

Can this solution integrate with existing systems?

Yes, Purple Fabric Magic Loss Runs can be deployed flexibly across AWS environments and seamlessly integrated with document sources like Amazon S3 and downstream underwriting systems via APIs.

What kind of accuracy can be expected from the AI extraction?

The solution boasts over 95% accuracy in data extraction from loss run documents across all formats.

How does this offering benefit from being on AWS Marketplace?

Offering the solution on AWS Marketplace provides customers with a streamlined procurement process, allowing them to discover, purchase, and deploy the automation tool more efficiently within their existing AWS accounts.

Crypto Market AI's Take

The availability of IntellectAI's Purple Fabric Magic Loss Runs on AWS Marketplace signifies a growing trend towards specialized AI solutions streamlining complex enterprise processes, particularly within the insurance sector. This move highlights how foundational AI technologies, like those powering our own platform at Crypto Market AI, are being adapted to solve specific industry challenges. The emphasis on accuracy, speed, and scalability in loss run document processing is a parallel to the demand for similar attributes in AI-driven cryptocurrency trading. By leveraging LLMs and advanced AI, IntellectAI is demonstrating the power of intelligent automation, a concept central to our own mission of revolutionizing finance through efficient and accessible cryptocurrency solutions.

Intellect Announces Availability of Purple Fabric Magic Loss Runs in New AWS Marketplace AI Agents and Tools Category