(Image source: NeuralMetrics homepage.)

NeuralMetrics (Denver), a provider of AI-generated commercial underwriting data, has announced announced the launch of two AI assistants designed to support commercial insurance underwriting teams. The vendor describes GIA and ARKUS as 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, according to a Neural Metrics statement. The vendor characterizes the AI assistants as 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, according to the vendor, who provides the following descriptions:

• 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,” comments Prakash Vasant, CEO, 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, which the vendor asserts sets a new standard for underwriting data integrity and transparency, workflow proficiency, and regulatory compliance.”

NeuralMetrics says its AI assistants excel at real-time learning, adapting to their tasks, and can recalibrate for continuous optimal performance. The vendor adds that 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. Neural Metrics says this collaborative approach by AI assistants and underwriting teams contributes to holistic risk assessment for underwriting precision and agility. The vendor says that additional NeuralMetrics AI assistants will be announced soon.

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