Relativity6, an AI solutions provider for insurance companies, has launched a new tool to detect risk in commercial insurance submissions. The firm also announced a number of new hires and the promotion of Jonathan Ringvald to Chief Product Officer (CPO).
With Hazard Flags, and its use of advanced machine learning algorithms, insurers can quickly and accurately identify potential hazards and red flags in insurance submissions, Relativity6 explained. This will allow them to make better-informed decisions about which policies to accept and which to reject.
The technology works by analysing large amounts of data from digital footprints in real-time. These risks are flagged for underwriters, who can review them and make more informed policy decisions.
“We believe that Hazard Flags has the potential to revolutionise the way and speed at which insurers underwrite commercial policies,” said Ringvald. “By automating a key part of the risk assessment process, we can help insurers reduce their workload and increase their efficiency, allowing them to focus on providing the best possible service to their clients.”
The firm has also announced the promotion of Jonathan Ringvald, who has over a decade of experience in the tech industry, from Chief Marketing Officer to CPO.
In his new role Ringvald will be responsible for overseeing the entire product development process, from ideation to launch.
He will work closely with Relativity6’s data scientists, engineers, as well as with the market team to ensure that the company continues to deliver innovative solutions.
Ringvald joined Relativity6 over six years ago as Product Marketing Manager, and has held several positions during his tenure.
Abraham Rodriguez, CTO of Relativity6, said: “We are thrilled to promote Jonathan to this critical role within the company.
“His expertise and leadership have been instrumental in driving the success of our product offerings, and we are confident that he will continue to drive innovation and excellence in his new position.”
The company has hired additional Business Development Representatives, Account Executives, Marketing Managers to further strengthen its sales and marketing capabilities, doubling its headcount in the first quarter of 2023.
The new hires will be responsible for identifying new business opportunities, building relationships with prospective clients, and driving revenue growth.
They will work closely with existing teams to develop and execute on strategic initiatives, and will play a critical role in helping the company achieve its ambitious growth targets.
“Our rapid growth over the past few years has been driven by our commitment to delivering innovative solutions that meet the evolving needs of our clients,” said Alan Ringvald, CEO of Relativity6. “As we continue to expand our product portfolio and customer base, we recognize the importance of investing in top-tier talent to support our growth trajectory.”