Role-based AI assistants reinforce workflows for risk appetite and risk analysis.

NEW YORK, NY, UNITED STATES, September 17, 2024 /EINPresswire.com/ -- NeuralMetrics, a leading provider of Generative AI technology and data for commercial insurance risk assessment, today announced the launch of two innovative AI assistants designed to support commercial insurance underwriting teams. GIA and ARKUS are task-oriented, self-learning AI assistants within the NeuralMetrics Smart Adaptive Multifunctional Assistant (SAMA) platform.

With GIA and ARKUS, insurer and program administrator/MGA underwriting teams can efficiently refine in-appetite risk selection, enrich exposure analysis, improve pricing and quoting accuracy, and enhance service to agents and policyholders. The AI assistants are digital coworkers, enabling insurance organizations to streamline risk-assessment workflows, increase capacity, and grow books of business with their current underwriting resources.

NeuralMetrics AI assistants fulfill specific roles and can be seamlessly integrated into underwriting workflows to function as virtual team members:

GIA, a risk appetite AI assistant, ingests commercial underwriting guidelines and evaluates submissions based on each insurer’s risk tolerance in various classes of business. Using specific insurer guidelines, GIA accurately assigns business description codes for better decision-making. If appetite changes, GIA quickly learns the new guidelines and applies them to subsequent submissions across the book of business.

ARKUS, a risk analysis AI assistant, utilizes real-time, public data and user-provided exposure information to analyze risks and identify diverse risk factors, elevating risk-identification accuracy. ARKUS can continuously monitor new submissions and renewals to detect similar or adjacent risks and ensure uniform and objective commercial underwriting processes.

“Our AI assistants contribute to a significant data-driven transformation in the commercial insurance sector,” said Prakash Vasant, CEO of NeuralMetrics. “By leveraging AI-powered risk-quality data and advanced Generative AI capabilities, the NeuralMetrics AI assistants can expand underwriting accuracy and productivity. To help boost cost-efficiency, portfolio consistency, and book-of-business growth, NeuralMetrics AI assistants are designed to complement each other in a dynamic risk-evaluation ecosystem — setting a new standard for underwriting data integrity and transparency, workflow proficiency, and regulatory compliance.”

AI assistants from NeuralMetrics excel at real-time learning, adapting to their tasks, and can recalibrate for continuous optimal performance. They can work together within the cognitive ecosystem of the SAMA platform, exchanging information, learning from each other, and self-correcting their reasoning and outputs. This collaborative approach by AI assistants and underwriting teams contributes to holistic risk assessment for underwriting precision and agility. Additional NeuralMetrics AI assistants will be announced soon.


About NeuralMetrics
NeuralMetrics (www.neuralmetrics.ai) provides a Generative AI platform — consisting of role-based, self-learning AI assistants combined with real-time AI-powered risk intelligence and industry classification data — to facilitate accurate commercial insurance underwriting. AI assistants from NeuralMetrics can ingest underwriting guidelines and be trained to identify and evaluate suitable, in-appetite accounts. Insurer and MGA underwriting teams can optimize risk selection by integrating autonomous AI assistants with instantaneous and transparent risk-quality data from dynamic public information sources. The NeuralMetrics AI-driven solution suite, which includes AI assistants and the AI-enabled underwriting data workbench, empowers insightful risk assessment for insurance organizations and their distributors, helping to cost-effectively boost underwriting capacity, enhance precise policy pricing, and promote exemplary policyholder services.

Candace Boyle
the10company
candace.boyle@the10company.com

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