Loss run extraction software for underwriters turns carrier loss runs in PDF, scan, Excel or CSV into one claims table, then checks it for missing years, duplicates and stale valuations. LossRunReports does this at a published price, with a five-year summary an underwriter can open straight away. Developer APIs and carrier platforms cover the same job with more setup or a demo-only quote.
Underwriters do not need another place to type claims. They need every submission to arrive in the same shape, with the exceptions already flagged. Judge extraction software on that, not on a demo of one clean PDF.
Try the reader on a loss run from your own queue, no account needed.
What underwriters should expect from extraction
Twenty carriers print loss runs twenty ways. A usable tool reads each claim into the same fields: claim number, date of loss, report date, status, paid, reserve, recoveries and incurred. It also keeps the policy term and the valuation date attached to every row, because a total without a valuation date cannot be compared with anything.
The checks matter as much as the reading. Totals extracted from the claim rows should match the totals printed on the report. A missing policy year should be listed as a gap, never shown as a clean year. Reports older than your acceptance window, usually 60 to 90 days, should be marked. Read what currently valued loss runs mean before you set that window.
Loss run extraction software compared
The options below split into three groups. Read the last two columns first, because the work around the extraction is where cost hides.
| Tool | Best for | Finished review screen | Gap and valuation checks | Price |
|---|---|---|---|---|
| LossRunReports | Underwriting assistants, agencies and MGA desks | Yes, with five-year summary and exports | Yes. Gaps, duplicates, stale valuations. Agency adds loss ratio and an editable narrative. | Broker $299/mo, Agency $1,499/mo, Enterprise $4,999/mo. Yearly billing about half. |
| Sensible | Engineering teams building a pipeline | No, JSON through an API | You build them | Free to 100 documents, Growth $499/mo, Scale $1,499/mo |
| Pibit.AI | Carriers and MGAs wanting scoring and rating | Yes, inside its platform | Part of a wider workflow | Quote only |
| FurtherAI | Carriers, MGAs and reinsurers | Yes | Deduplication, loss triangles, missing-year flags | Demo, no public price |
| Outmarket AI | Brokerages wanting a broad AI workspace | Yes, multi-tab Excel | Compares extracted and document totals | Lite $83 per seat a month billed annually |
Vendor details from each vendor's public site, checked October 2026. Loss Run Pro and Appulate LossRunner order reports but do not extract claims, so they sit in front of extraction rather than competing with it.
Developer API or finished tool
An extraction API such as Sensible returns clean data if your engineers build the rest: upload, review screen, policy-year mapping, exception queue. That is the right call when loss runs are one of many document types you process. It is the wrong call when the person who needs the answer is an underwriting assistant with a renewal due Friday.
Carrier-grade platforms such as Pibit.AI bundle extraction with scoring and rating. They fit when the purchase covers the whole intake process and you are ready for a demo and a quote.
For underwriters who want the work done without a project, a finished tool is faster. The underwriting workbench for loss runs shows the review screen and the fields.
How to test extraction software on your own files
- Use the worst file, not the best. Pick a scanned report with an open claim and a mid-term carrier change.
- Check totals against the report. Add up the extracted paid and incurred columns and compare them with the printed totals.
- Look for the valuation date. It should appear on every row set, and an old one should be flagged.
- Remove a year. Submit four years instead of five and confirm the tool names the gap.
- Export the result. Open the file and check that paid, reserve, recoveries and incurred map to your own system.
- Price your volume. At 700 documents a month, the Agency plan's 3,000-document allowance is ample at $1,499 a month. Our loss run software pricing guide separates ordering from extraction costs.
Where extraction stops and underwriting starts
Software reads and checks. It does not decide. Large losses, open reserves on old claims and a cause-of-loss pattern still need an underwriter. Good extraction gets those items in front of you in seconds, with the source page one click away, so your judgment goes to the risk instead of the retyping.
Underwriters who also read policy forms and endorsements during a referral sometimes use a tool to ask questions of a policy PDF, which is a separate job from loss run review. Keep the loss summary as the fixed reference and use that kind of tool for the wording.
Frequently asked questions
What is the best loss run extraction software for underwriters?
LossRunReports fits underwriters and assistants who want claims extracted, checked and summarized without building anything, from $299 a month. Pibit.AI and FurtherAI suit carriers buying wider automation by quote. Sensible suits engineering teams that want an API and will build the review screen themselves.
Can software extract claims from scanned loss runs?
Yes. LossRunReports reads PDFs, scans, XLSX and CSV using OCR and extraction rules. Scans are the hardest case, so test one with an open claim and compare the extracted totals with the printed ones before relying on it for a quote.
How accurate is loss run extraction?
Accuracy depends on the report and the tool, so no single figure applies. Verify by reconciling extracted totals with the totals printed on each report and keeping the source page next to every claim. Treat any flag as a prompt to look, not a replacement for review.
Does extraction software request the loss runs too?
Some does and some does not. Sensible, Pibit.AI and FurtherAI read documents you already have. LossRunReports also sends requests with e-signed client authorization and follows up on day 3, 7 and 14, so one tool covers both steps.
Is there an API for loss run extraction?
Yes. LossRunReports Enterprise includes API keys for the document extraction endpoints, with 20,000 documents a month, custom retention and an audit log. Sensible is an API-first alternative billed per document.
Ready to compare on your own file? Review the loss run analysis output, then check document limits on the pricing page.