NeuralMetrics

Loan underwriting, code documentation and modernization, online marketing creation — McKinsey & Company shares three use cases where AI agents, or as we at NeuralMetrics call them, AI assistants, can automate and speed up workflows. Here are two more actual examples: At NeuralMetrics, we offer our insurer clients access to persona-based autonomous AI assistants that can ingest commercial insurance underwriting guidelines and assume distinct underwriting roles — while executing essential tasks such as precise, data-driven risk analysis and in-appetite risk selection. We also offer a specialized AI assistant to support worker’s compensation premium audit processes. For more insight on the evolution of AI assistants and how they can boost capacity, reduce workflow inefficiencies, and cut costs across business sectors, check out the McKinsey article: https://lnkd.in/e392VSvq

NeuralMetrics is honored to be named to the inaugural FinTech Global DataTech50 list, recognizing innovative companies that offer data management solutions to the financial services industry. At NeuralMetrics, we help modernize commercial insurance underwriting by featuring autonomous, role-based AI assistants to support risk appetite and selection, exposure analysis, and premium audit management. The AI assistant personas can ingest underwriting guidelines and other information to self-learn and adapt in fulfilling assigned risk assessment and premium audit tasks and workflows. They also leverage our AI-powered underwriting data workbench — which instantly provides underwriters with comprehensive and transparent risk intelligence and classification data from various public information sources. Check out the full DataTech50 list: https://lnkd.in/eY7ReHWE

What if commercial insurers could “know the unknown” throughout their risk-evaluation efforts? NeuralMetrics role-based, self-learning AI assistants — paired with our real-time risk intelligence and classification data — streamline underwriting and premium audit workflows. We support insurers and program administrators/MGAs with access to validated, transparent risk-assessment insights for insurable businesses. NeuralMetrics AI assistants and data capabilities empower underwriting teams to refine in-appetite risk selection, enrich exposure analysis, improve pricing/quoting accuracy, and enhance service to agents/brokers and policyholders. See this brief video to learn more: https://lnkd.in/eaaPvpMT

GenAI solutions can turbocharge insurers’ distribution channels. According to Bain & Company, GenAI provides coaching to improve agents’ interactions, analyzes disparate data sources to yield new risk insights, and offers personalized policyholder experience. At NeuralMetrics, we see a complementary benefit — improving the relationship between commercial insurance underwriters and agents. GenAI-powered underwriting solutions, like our role-based AI assistants for risk analysis and our underwriting data workbench for risk intelligence and classification, identify missing information about exposures and help to eliminate the constant back-and-forth communication between agents and underwriters to complete applications, quote, and bind policies. To learn more about GenAI’s emerging role in improving agency-insurer risk identification and selection workflows, read the Bain article: https://lnkd.in/gm7Axbze.

Open-source AI is leveling the playing field, enabling emerging and growing insurers to access the same AI tools as their larger counterparts. This technological democratization improves innovation and competition, leading to better insurance products and services for policyholders. Insurance organizations that do not take advantage of open-source AI tools risk being outpaced. NeuralMetrics technical co-founder Marcus Daley shares with Forbes how insurers can benefit from open-source AI technologies, overcome ethical and data protection concerns, and drive customer enhancements: https://lnkd.in/ehwexgrj

Commercial underwriting teams often face capacity challenges as training and onboarding reliable risk-evaluation resources take time. Insurers can utilize autonomous, self-learning AI assistants to address this talent gap. These assistants can quickly learn underwriting guidelines and be trained by underwriting teams, enabling experienced underwriters to focus on more complex and strategic activities. Reasoning AI assistants resemble competent interns, able to efficiently handle various risk analysis workflows with exceptional speed and precision. NeuralMetrics CTO Sathish kumar Manimuthu shares with PropertyCasualty360 four ways insurance organizations can use role-based AI assistants in their underwriting processes to increase productivity and capacity: https://lnkd.in/ezHpXjPx

The future is AI agents – or, as we call them in insurance, AI assistants. According to Accenture, 96 percent of executives agree that leveraging AI agent ecosystems will be a significant opportunity for their organizations in the next three years. However, AI assistants as productive digital co-workers are only as good as the industry specialists who train them. At NeuralMetrics, we can help forward-thinking insurance organizations incorporate AI assistants into their underwriting workflows for more efficient and accurate risk assessment. Our persona-based AI assistants can ingest insurer underwriting guidelines and undertake distinct underwriting roles — while interacting and executing essential tasks such as precise, data-driven risk analysis and in-appetite risk determination. For more perspective on the future of AI agents, read this report from Accenture: https://lnkd.in/eyZjY6CE

The insurance industry is embracing GenAI technology, with 99% of insurers already investing in or planning to invest in GenAI, according to EY-Parthenon. However, more than half of insurance decision-makers are concerned about the accuracy and reliability of GenAI solutions. At NeuralMetrics, we recognize the importance of data transparency in building trust in the information delivered by AI tools. The risk intelligence and industry classification modules of the NeuralMetrics AI-powered underwriting data workbench provide exact sources and confidence scores for all data points and answers to commercial risk-selection questions. For details on how insurers intend to utilize GenAI, you can review the EY-Parthenon survey at https://lnkd.in/d-QHc4bh

Autonomous, task-oriented AI assistants can help insurance organizations increase their commercial underwriting capacity. AI assistants work like interns, able to understand underwriting guidelines and risk-quality information to effectively complete assigned processing tasks — freeing up underwriters to concentrate on more complex and strategic responsibilities. NeuralMetrics CTO Sathish kumar Manimuthu shares with Digital Insurance how insurers can integrate AI assistants into underwriting workflows, and he identifies best practices for training role-based AI assistants. https://lnkd.in/eXedWwS6

NeuralMetrics is proud to be one of only seven companies out of 100+ participants to graduate from the 2023/2024 Creative Destruction Lab (CDL-Wisconsin) Risk Stream at UW-Madison! The CDL program and its expert advisors have contributed to the development of use cases for our persona-based autonomous AI agents and AI-powered underwriting data workbench. NeuralMetrics solutions are designed to assist commercial insurance organizations in streamlining complex underwriting processes and improving timely, data-driven risk assessment. We are grateful to CDL-Wisconsin for guiding us on a constructive and valuable journey over several months. https://lnkd.in/gG9aNvCi