About Gradient AI
Powering a better return on insurance risk for over a decade
Gradient AI was founded in 2012 within one of the world's largest actuarial consulting firms. Its initial mission was to use cutting-edge artificial intelligence (AI) and machine learning (ML) solutions to identify "creeping catastrophic" workers' compensation claims early enough to improve patient outcomes and reduce costs. From that singular beginning, the company built a suite of products to address a host of insurance claims and underwriting issues.
In 2018, Gradient AI was spun out as an independent company to provide complete underwriting and claims management solutions for group health, property & casualty, and workers' compensation insurers.
Today, Gradient AI is proud to be a leading provider of proven artificial intelligence (AI) solutions for the insurance industry. Its solutions improve loss ratios and profitability by predicting insurance underwriting and claim risks with greater accuracy, as well as reducing quote turnaround times and claim expenses through intelligent automation.
Based in the Seaport District of Boston, Massachusetts, the company is backed by blue-chip insurance industry investors including MassMutual Ventures, Sandbox Insurtech Ventures, BSC Capital, American Family Ventures, Forté Ventures, and Stone Point Capital.
Unmatched AI and data capabilities for the insurance industry
Unlike other solutions that use a limited claims and underwriting dataset, Gradient's software-as-a-service (SaaS) platform leverages a vast dataset comprised of tens of millions of insurance policies and claims. It also incorporates numerous other features including economic, health, geographic, and demographic information. Gradient AI serves mid-market and large insurers in the workers’ compensation, group health, and property & casualty markets. Its customers include primary carriers, third-party administrators, self-insured entities, brokers, captives, excess and surplus carriers, managing general agents and underwriters, professional employers’ organizations, reinsurers, and risk pools across all major lines of insurance. Gradient AI is particularly well-suited to organizations looking to take advantage of the speed, accuracy, and scalability that AI can offer to better assess risk and increase profitability.
On a growth trajectory
Gradient AI closed out 2022 with more than 100 customers and well over 100% year-over-year growth. The company experienced four consecutive quarters of record growth, capping off a year of unprecedented success. Gradient AI projects strong growth ahead as insurers look to bolster their core underwriting and claims operations. This is driving the insurance industry to seek solutions that leverage data and AI to amplify staff intelligence and operational efficiency.
By using Gradient AI’s solutions, insurers of all types achieve a better return on risk.