Artificial intelligence-powered tool brings automated machine learning techniques to address pain points in risk assessment
New York, London, Paris, Dubai, Pune – Synechron, Inc, the global financial services consulting and technology services provider, today announced an update on its award-winning Visual Risk Accelerator. The artificial intelligence (AI)/machine learning-enabled Accelerator is focused on improving the tedious, highly-manual insurance risk assessment processes so the underwriter can focus on more complex applications, with upwards of 80 percent of applications being automated. Synechron’s Visual Risk was honored with the Industry Disrupter Award at the ACORD Insurance Innovation Challenge in 2017 and a Commercial Insurance Award for 2018.
The Visual Risk Accelerator gives underwriters a dashboard view, which provides an overview of day-to-day activities, including submissions, quotes given, contracts bound, declined applications and summary data on how many policies have been issued, and with this, aims to improve efficiency for the risk-assessment process by automating up to 80 percent of all applications, leaving the most complex cases for the underwriters’ focus. The machine-learning-enabled model looks at over 70+ data sources for a given applicant, such as…
