So listen up, folks! There’s some exciting news coming out of San Francisco today. Federato, you know, the company that’s been killin’ it with their RiskOps Underwriting Platform, just teamed up with Google Cloud. And let me tell you, they’ve added some serious firepower to their platform with these new AI capabilities.
San Francisco, Oct. 31, 2023 /PRNewswire/ — Federato just dropped the bomb that they’ve partnered up with Google Cloud to take their RiskOps Underwriting Platform to a whole new level. These new features are gonna be available to all customers as Federato solidifies its position as the leader in AI. It’s like they’re puttin’ the pedal to the metal, man.
“You know, when most people think of AI in insurance, they think of automation and risk scores,” said Will Ross, the CEO & Co-founder of Federato. “But our customers have been tellin’ us that those things are just average, man. At worst, they’re oversimplifying everything and not givin’ underwriters the tools they need to succeed. So, we’re steppin’ up and givin’ ’em what they really need – AI that’s gonna guide ’em, elevate their thinkin’, and tap into that creativity and knowledge that sets ’em apart.”
And let me tell you, folks, these new features are gonna blow your mind. They’re gonna be showcased at the InsurTech Connect event in Las Vegas from October 31st to November 2nd. And if you’re a customer, you’ll be able to get your hands on these bad boys through Google Cloud Marketplace. Just click and boom, you’re good to go.
“Federato has always been a standout in the startup community. They’ve been solvin’ the most complex challenges in the insurance industry,” said Nigel Walsh, the Managing Director of Insurance for Google Cloud. “And now, with Google Cloud’s AI capabilities, Federato is gonna help insurers streamline their underwriting process and make it more efficient.”
Here’s the rundown of the AI capabilities now available on the RiskOps Underwriting Platform:
Portfolio Optimization – It ranks thousands of risks based on existing rate, retention, accumulation, and new business goals. This is next-level stuff, man.
Winnability Estimation – It takes hundreds of market data points and gives underwriters an analysis of how competitive they are in the market. It’s like havin’ your own personal market guru, right at your fingertips.
Appetite Assessment – This bad boy combines rules and algorithms to instantly assess appetite and referral requirements. It’ll even give you the green light for auto-declination or straight through processing. Talk about efficiency, my friends!
Underwriting Guideline Support – It scans all those boring guidelines and pinpoints the questions an underwriter should ask. No more guesswork, just pure awesomeness.
Similarity Analytics – This feature groups thousands of accounts based on similar characteristics so underwriters can learn from their peers. It’s like havin’ a secret club, man. Sharing knowledge and kickin’ ass.
Custom Models – It allows customers to train, host, deploy, or connect to their own models within the RiskOps environment. It’s freedom, baby.
You gotta check out these mind-blowing features at ITC Vegas. Federato and Google Cloud are gonna demonstrate ’em live at the world’s biggest insurance innovation event from October 31st to November 2nd in Las Vegas. Swing by Booth #3341 and catch the breakout session called “Tomorrow’s Underwriter – Building Trust in AI, Generative and Beyond” on November 1st from 11:10 am to 12:00 pm PT at Mandalay Bay Ballroom J.
Federato’s RiskOps platform is revolutionizin’ the game in P&C and Specialty insurance. It’s designed by underwriters for underwriters, man. They’re givin’ you real-time risk and portfolio insights that help you make the best decisions. Whether it’s about appetite, underwriting guidelines, or winnability, Federato’s got your back. Some of the biggest insurance carriers and high-growth MGAs are already usin’ this platform, so you know it’s legit. Check out more at www.federato.ai, my friends.