Underwriting commercial accounts comes with unique challenges, especially when it comes to accurately evaluating risks. Time-consuming manual internet searches and outdated databases used to gather business details for new submissions and renewals not only demand significant effort but often yield incomplete or inaccurate information.
Planck® PLUS streamlines risk assessment for commercial insurance underwriters with AI-driven data insights. By minimizing the time spent researching and validating business information online, Planck PLUS accelerates new business quotes, simplifies renewals, and helps identify emerging risks faster.
Key Benefits
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Improve accuracy when assessing risks
Real-time, AI-powered data mining minimizes errors in risk assessments, assisting commercial underwriters in making better pricing and coverage decisions.
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Increase underwriting efficiency and process more submissions
Automating risk data collection frees commercial underwriters' time, resulting in quicker, more accurate quotes and renewals.
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Identify potential risks early
Continuous updates on risk assessments enable commercial underwriters to recognize and address new risks early in the renewal process to ensure an accurate risk profile.
Capabilities
AI-Powered Risk Research
With as little as a business name and address, leverage innovative AI technology to build a comprehensive risk profile with verifiable source links. Planck PLUS collects and organizes NAICS classifications, business descriptions, and industry-specific risk attributes, as well as consolidated raw information such as business images and social reviews, to provide a precise risk assessment.
Renewal Validation
Obtain customized risk verification for high-risk industries like construction and restaurants. Planck PLUS easily compares new risk details with current policy information to confirm accuracy and spot discrepancies.
Generative AI Chatbot
With all the data that Planck PLUS finds about business risks, the chatbot allows underwriters to ask additional questions and even try to find additional insights that might have been found but aren't part of the structured data that was returned. It can provide further insights, summarize the findings, and help find more details about a business.
Batch API Integration
Utilize the API to schedule risk assessments daily and in bulk before policy renewals. Underwriters get updated insights that flag new risks and confirm existing information, which helps manage larger volumes of commercial accounts. This means you will always work with the latest and most accurate data.
Explainable, Evidence-Backed Insights
Help underwriters understand the reasons behind the identified risk factors. Planck PLUS commercial lines underwriting insights link back to source data to provide concise explanations.
Ready to Learn More?
Ivans is ready to provide your business the advanced insurance software and solutions to digitally distribute and service products in new ways.