Origami Risk Launches GenAI Solutions for Risk Managers

Championing a ‘safe and strategic’ approach to AI for the risk and insurance community, the vendor has also introduced a GenAI Product Pilot Program.

(Image credit: David Guenther/Unsplash.)

Origami Risk (Chicago), a provider of risk, safety and insurance SaaS solutions, has announced the launch of its new package of Generative AI (GenAI) solutions for risk managers at the RIMS RISK WORLD conference in San Diego next week, as it urges risk managers to take an informed approach to adopting and integrating the latest artificial intelligence tools.

In response to the acceleration of GenAI, Origami reports that it is launching two prototypes that aim to safely guide risk and insurance professionals through the strategic adoption of AI. The vendor has also introduced a GenAI Product Pilot Program directed at enabling a selection of Origami’s clients to help shape the development of Origami’s own AI features.

Guiding the Planning Phase of the AI Journey

Origami says it has developed AI Risk Identifier to support risk managers in the planning phase of their AI journey. AI Risk Identifier assesses potential AI use cases (both in progress or pre-development) to identify and mitigate the risks involved. It will also determine the risks and opportunities associated with different potential use cases so risk managers can strategically prioritize their activities and mitigate the risks associated with them.

Origami reports that its GenAI Pilot Program has gathered several of the firm’s clients to pilot potential future use cases for the business. These include the ability to review audit responses and use Open AI to recommend potential corrective action for low-scoring areas. It also features technology to quickly summarize claims and compose task lists and emails.

Earne Bentley, President, Risk Solutions, Origami Risk.

Audit Accelerator has been developed in partnership with Origami’s subsidiary Dais (Chicago). The technology runs safety audits at scale, without a human bottleneck, wherever there is a live camera. From a simple photo upload, businesses will increase their efficiency by potentially removing the need for people to perform physical safety audits across multiple sites in multiple locations. A visual dashboard allows clients to see a basic comparison of claims frequency and severity based on both before, and after Audit Accelerator was implemented.  All of these initiatives will be integrated into Origami’s single platform, making it simple for risk professionals to access and utilize these tools within a secure, cloud-based environment, the vendor says.

In its upcoming ‘State of Risk’ report, which surveys the attitudes and opinions of 240 risk professionals across Europe and North America, Origami found that although 1 in 4 do not rank GenAI as a priority for their organization, over a third of responders are actively in discussion or planning phase.

Avoiding Problems Caused by Rushing Adoption of AI

“The risks associated with AI are very real and rapidly evolving,” says Earne Bentley, President, Risk Solutions, Origami Risk. “But the risks, in the form of lost opportunities, are even greater in the long run for organizations that do not move forward with well-governed, AI-enabled processes. Our State of Risk report highlights that although few risk professionals rate GenAI as a priority for their business, many are working on its applications anyway. We’re concerned that in the rush to embrace the possibilities of this evolving technology, many professionals may abandon best practices and create bigger problems for their organizations in the long run.”

“Our package of GenAI solutions represents a safe, strategic and purposeful approach to these technologies that will help risk managers to safely explore and adopt GenAI in a robust and sustainable manner,” Bentley adds.

This news follows the announcement of AI-driven claims optimization capabilities resulting from  Origami’s partnership with CLARA Analytics (Santa Clara, Calif.). The partnership gives Origami’s clients access to tried and trusted machine learning, predictive AI, natural language processing (NLP), and generative AI (GenAI) to increase claims efficiency.

Origami Risk and CLARA Analytics Team to Offer AI-Driven Casualty Claims Solutions

Origami Risk Acquires No-Code Insurance Tech Provider Dais

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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