Leverage the power of AI to improve underwriting risk assessment

Leverage the power of AI to improve risk assessment and optimize claims outcomes

Workers’ Compensation Underwriting Solution

Underwriting Key Benefits

Price more accurately

 

Decrease quote turnaround time 


Enable straight-through processing 


Workers’ Compensation provides wage replacement and/or medical care to employees who are injured or become ill or injured as a direct result of their employment.

 

Workers’ Compensation protects employees and employers:



  • Employees: helping them recover and return to work as soon as possible
  • Employers: helps eliminate the need for litigation and helps cover legal costs if litigation does occur
Speak with us about Workers' Comp Solutions

Business Challenges and Solutions

Workers' Comp is a challenging market for insurers. Claims costs are rising as workers age, but the large number of Workers’ Comp providers in the market lead to severe pricing pressure, limiting underwriting profitability.


What if you could identify good underwriting risks that others miss, and price them to win, while avoiding bad risks or pricing them so you can maintain a healthy loss ratio? Imagine if you could do this while also dramatically reducing quote turnaround times.


Now you can gain these underwriting benefits with Gradient AI’s Underwriting Solution for Workers’ Compensation.

Workers’ Compensation Underwriting Suite

 

Improve your risk assessment capacities through a combination of machine learning, our vast dataset, and modeling expertise.

 

Obtain predictive insights to identify risk with speed and accuracy never before possible, enabling you to price more accurately and better manage risk. Compete more effectively and win more business, all while improving your loss ratios.

 

Gain powerful assessment and audit capabilities so you can keep your rates competitive while maintaining healthy loss ratios. Audit and verify class codes, to ensure that your pricing accurately reflects risk.

 

Gradient AI’s Workers’ Comp Underwriting Solution enables you to:


  • Price policies more accurately and with deeper insights
  • Enable Straight Through Processing by identifying low-risk applications
  • Accelerate expansion into new markets with a deeper understanding of risk


Looking to get started with AI more quickly? Learn more about WriteSpeed Workers’ Comp Underwriting solution.

“A key reason we chose Gradient AI is due to the insight we receive from the solution’s vast dataset, allowing us to make more informed and nuanced decisions as it relates to evaluating the risk and pricing of new business. The additional insight that Gradient AI provides allows our underwriters to offer the right pricing and recommendations to our agents, enabling us to grow our business profitably.”


 – Mike Richardson, Vice President of Underwriting, AmFed

 

“Gradient AI is a power tool for our underwriters. Our experienced underwriters’ judgement coupled with Gradient AI’s risk assessment capabilities is a winning combination, enabling us to quote policies significantly more correlated with their unique risk. The ability to blend our data with Gradient AI’s federated data has also been a key performance-enhancing factor especially as we enter new markets. It has helped us drive nationwide expansion, better meet customers’ needs and serve a broader range of industries.”


– Jacob Clymer, Chief Operating Officer, Service Lloyds


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