London-based Volt Underwriting, a Lloyd’s approved coverholder, has partnered with Novee to deploy its AI intelligence layer across its Power & Renewables portfolio.
The partnership is designed to enhance underwriting efficiency by providing underwriters with practical risk insights and simultaneously automating labour-intensive data processes.
This includes tasks like schedule cleansing, which is crucial for directly inputting data into CAT and pricing models.
Chris Allison, CEO at Volt, stated: “We’re continuing to build out our MGA by adopting the best available technological tools that allow us to work smarter and serve our clients better. We sought an AI platform that could help us to analyse the huge volumes of data involved in the energy underwriting process.
“Novee helps our underwriters cut through the complexity inherent in submissions by semi-automating processes like schedule cleansing. That lets us focus on applying our judgement where it matters most, which helps us keep pace with the growing volume of submissions we’re seeing.”
Kevin Cleary, COO at Volt, commented: “Novee’s platform not only eliminates repetitive work, but it also adds real intelligence on top by extracting insights, and playing that back to our underwriting team in a clear and consistent manner. It can uncover patterns in engineering and loss data, for example, which strengthen our underwriting decisions.”
Power & Renewables underwriting often involves vast amounts of fragmented and highly technical information, from engineering surveys and loss reports to extensive schedules of values.
Traditionally, the fragmented and highly technical information, ranging from engineering surveys and loss reports to extensive schedules of values, demanded hours of manual processing before it could be analysed, priced, or used for CAT modelling.
Now, the Novee solution semi-automatically cleanses schedules, structures exposure data, and extracts vital insights from all supporting documentation. This efficiency makes the data instantly usable, transparent, and decision-ready, changing the dynamic of interacting with complex underwriting information.
Haris Khan, CEO of Novee, said: “The challenge in Power & Renewables isn’t just the volume of information, it’s connecting the dots between it all. Our platform brings structure, context, and automation into a single workflow. Volt has been an exceptional partner in shaping how this technology fits around real underwriting practice, and together we’re building a model for how agentic AI can amplify human expertise across the market.”
