Planck, global insurtech platform for commercial insurance, has launched the first generative artificial intelligence (GenAI) enhanced underwriting workbench known as Planck PLUS.
Planck PLUS is both a strategic toolkit and a trusted co-pilot that leverages the latest AI technologies and proprietary machine learning models to set a new standard in underwriting risk research, insight generation, data attribution transparency, and automation.
The new underwriting co-pilot generates complete queries based on basic underwriter inputs and even suggests new questions to ask based on models trained specifically in commercial insurance.
These strategic prompts, Planck explains, along with a comprehensive digital footprint of a business, focus the full potential of GenAI toward a carrier’s specific underwriting goals.
Moreover, the closed data ecosystem eliminates data privacy concerns and dramatically reduces errors, which are both common issues with other generative platforms.
Planck Co-Founder and CEO Elad Tsur, commented: “Planck PLUS is reshaping how underwriters access, analyse, and interpret risk data. GenAI has shown its ability to revolutionise every industry it touches.
“With Planck PLUS, this transformative power is harnessed in a single, comprehensive, easy-to-use workbench built specifically for commercial insurance. Planck PLUS helps underwriters navigate vast amounts of data, uncover opportunities, and enable automations to increase written premiums and improve underwriting profitability.”
