In August 2023, the IT team at Expion, along with support from executive leadership, initiated an internal project to automate the intricate underwriting process for prescription cost management. After six months of development, ExpionIQ Advisor was created by two AI developers at Expion. This tool utilizes linear regression, multiple algorithms, and custom AI models to automate prescription RFPs.

Kumar states that previously, mistakes could be easily made in the underwriting process for prescription cost management. However, with the creation of ExpionIQ Advisor, he now knows exactly what math is being used and what risks are being taken. Even if the model predicts something incorrectly, he is equipped with the knowledge to address the issue. The tool has significantly reduced the time required to calculate necessary figures for an RFP from days to just a few hours and enables employees to verify its accuracy.

ExpionIQ Advisor also streamlines the underwriting process by serving as a web-based .NET application that allows underwriters and other users to access the system and review data. Kumar explains that this front-end application performs final computation and generates a printout for clients in a user-friendly format. With this new tool in place, Expion has been able to attract more new business by responding to more RFPs per year than before.