Underwriting Risk Assessment

The underwriting department was struggling to manage high-risk policies and applications efficiently, covering new business, renewals, and unbound applications carrying underwriting referrals.

The manual review process was both time-consuming and resource-intensive. Deadline pressure on the team was constant, and the result was delayed decisions and inefficiency at exactly the point where speed and consistency matter.

We enhanced the existing Risk Assessment Tool with a Summarize Risk feature powered by generative AI. Selected property data is sent to a generative AI API, which analyzes the information and returns a summary of the property’s risk level, the additional data needed for further assessment, and recommended next steps.

The value is in what it lets underwriters ignore. Traditional algorithms block policies based on predefined high-risk data points and treat those points in isolation. Generative AI analyzes the property profile holistically, weighing both risks and upsides, identifying nuanced correlations, and highlighting overlooked factors such as neighborhood crime rates. Underwriters spend their attention on the factors that actually move a decision rather than reviewing data that turns out to be irrelevant.