NeuralMetrics

By 2028, 33 percent of enterprise software applications will include agentic AI, up from less than one percent in 2024, according to Gartner. NeuralMetrics is proud to be among the one percent group of pioneers in applying cognitive AI to some of the most critical insurer/MGA business functions. Autonomous, role-based AI agents from NeuralMetrics — or as we call them, assistants — assume distinct personas, quickly learn and adapt to reinforce commercial underwriting workflows, and support other processes such as premium audits.   These digital coworkers can assist with risk appetite determination, strengthen real-time exposure analysis, and instantly identify missing or incomplete data elements, for example, to facilitate precise quote generation and state-specific workers’ compensation premium audits. The capacity and cost-efficiency of cognitive AI assistants apply to a range of insurance use cases and lines of business, such as ingesting insurer-specific underwriting guidelines to conduct Lessor’s Risk Only (LRO) tenant occupancy eligibility and risk analysis. To learn more about the impact of AI assistants on business productivity, as well as the benefits and challenges to be aware of, read this article by Gartner's Tom Coshow: https://lnkd.in/gCDRMWzv

Like many insurance industry counterparts, program administrators and MGAs are in the discovery phase of generative AI capabilities. NeuralMetrics was excited to meet and discuss AI developments with industry leaders this week at the Target Markets Program Administrators Association (TMPAA) annual summit. We had informative conversations about risk assessment challenges and how our autonomous AI assistants can assume distinct underwriting roles to automate processes and boost organizational capacity and efficiency. Among the use cases of interest was an AI assistant trained in determining risk appetite and eligibility for Lessor’s Risk Only (LRO) tenant occupancy exposures.   To learn more about how generative AI can help streamline program management and insurance workflows, listen to an expansive discussion between NeuralMetrics technical co-founder Marcus Daley and Gene Abbey, MSRI, MBA, CPL, host of the Target Topics InfoSeries program. Marcus delves into several aspects of cognitive AI, such as how and where to begin integrating the technology for operational productivity, plus a peek into the potential of role-based AI assistants and the evolving ways to interact and converse with them: https://lnkd.in/e8Yyi89m

Interested in learning how AI assistants can make commercial underwriting processes more efficient for program administrators/MGAs and insurers? Check out this article from NeuralMetrics CEO Prakash Vasant in Carrier Management. He examines how autonomous AI assistants can address key workflow challenges and boost the capacity of underwriting teams. Prakash also discusses the practical integration of cognitive AI assistants into underwriting workflows for cost-effective, data-driven risk assessment: https://lnkd.in/ewfXMpqA.

Using autonomous AI assistants in distinct commercial underwriting roles — such as risk appetite determination, risk analysis, and Lessor’s Risk Only (LRO) tenant occupancy exposure assessment (as just one use case among many) — was a key topic of discussion between InsureTech Connect attendees and NeuralMetrics. Another topic of interest was the abilities of a role-based AI assistant to support the premium audit lifecycle, from document review and exposure verification to workload distribution and state-specific regulatory compliance. We anticipate the functionality and value of AI assistants will also be a hot theme for program administrators/MGAs next week when we head to the Target Markets Program Administrators Association (TMPAA) Annual Summit. Learn more about AI assistants here: https://lnkd.in/eXedWwS6

Do insurers and MGAs know the full scope of business exposures in the commercial properties they insure? That’s one of the main topics the NeuralMetrics team is discussing this week with InsureTech Connect attendees. Commercial real estate can be a revolving door of tenants. A risky business such as a 24-hour convenience store could become a tenant after the policy was written. Or a landscaping business might also have started to offer snow removal services, but the insurer might not be aware of this. With AI capabilities from NeuralMetrics, commercial property insurers and MGAs can access instantaneous insights into the detailed perils of businesses in their Lessor’s Risk Only (LRO) portfolio. With help from GIA, the cognitive NeuralMetrics risk appetite AI assistant, combined with our LRO risk intelligence and classification data products, insurance organizations can more accurately evaluate all associated tenant exposures of their policyholders. To learn more about how NeuralMetrics AI assistants and real-time data products support underwriting proficiency across commercial lines of business, visit our website: https://neuralmetrics.ai/. #ITCVegas

NeuralMetrics is excited to introduce CHRIS, a cognitive AI assistant for managing workers’ compensation premium audit workflows. Premium audits require significant manual effort and review to ensure insurance premiums accurately reflect multifaceted business exposures. CHRIS provides fast, automated data collection and detailed classification information, resulting in more accurate and efficient audits. This role-based AI assistant speeds field and phone audits by addressing incomplete and missing information, such as employee, payroll, and subcontractor data. CHRIS also ingests and monitors state-specific regulations, ensuring full compliance. To learn more about CHRIS, read our news announcement: https://lnkd.in/eTxVMvPJ

Attending InsureTech Connect this week? Stop by NeuralMetrics booth #3038 to meet our autonomous, role-based AI assistants who can help streamline and cost-effectively enrich your core commercial underwriting and premium audit processes. NeuralMetrics AI assistants assume distinct knowledge worker personas and quickly learn and adapt to support your workflows: GIA reinforces risk appetite and selection based on your underwriting guidelines, including Lessor’s Risk Only (LRO) tenant occupancy exposures. ARKUS strengthens real-time risk analysis by monitoring risk-quality data and signals. CHRIS identifies missing data elements and absorbs state regulations and learnings from submission documents to facilitate comprehensive workers’ compensation audits. Visit NeuralMetrics at #ITCVegas to see these AI assistants in action.

Calling all commercial property insurers and MGAs. What if every time a new business moves into a building or next to a business you insure, you can instantly know all the exposures associated with tenant occupancy? And what if you could use this information continuously to make more refined decisions about your Lessor’s Risk Only (LRO) book of business? Those scenarios are real with GIA, the NeuralMetrics risk appetite AI assistant, combined with our LRO risk-quality data products. You get real-time property and occupancy information, which works seamlessly within your underwriting team’s workflow. So, if a daycare center, cannabis shop, or sports bar moves in, you can accurately evaluate the associated tenant exposures for your policyholders in a snap.   Attending InsureTech Connect in Las Vegas? Stop by NeuralMetrics booth 3038 to see GIA, our risk appetite AI assistant, and our LRO data capabilities in action. We can also discuss the growing NeuralMetrics suite of AI assistants, which includes detailed commercial risk analysis and premium audit workflow management roles.   #ITCVegas

Generative AI assistants can quickly ingest underwriting guidelines to help expedite commercial underwriting processes such as risk analysis and appetite determination. They can also perform their role-based tasks in real time, making it easier for insurers and MGAs to meet compliance standards and exceed policyholder service expectations. NeuralMetrics Chief Underwriting Officer, Chris Schrenk spoke with Lori Chordas of AM Best TV at the National Association of Mutual Insurance Companies (NAMIC) Annual Convention. They discussed how mutual insurers and other insurance organizations can deploy cognitive, self-learning AI assistants to improve processes and enhance risk-selection consistency: https://lnkd.in/ePc9uwMJ

NeuralMetrics is honored to be selected as a 2024 PropertyCasualty360 Insurance Luminary for our contributions to insurance technology innovation. NeuralMetrics persona-based AI assistants are modernizing commercial underwriting processes and workflows by specializing in distinct roles for risk appetite determination, exposure analysis, and premium audits. These autonomous assistants can self-learn, self-correct, and share information to streamline data-driven risk assessment and premium audit workflows. Check out the complete list of PC360 insurance luminaries: https://lnkd.in/eA9sCtRN.