BOSTON–(BUSINESS WIRE)–#AI—Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions for the insurance industry, announced that the company has joined Guidewire’s Insurtech Vanguards program, a new initiative led by property and casualty (P&C) cloud platform provider Guidewire (NYSE: GWRE), to help insurers learn about the newest insurtechs and how to best leverage them.
“Guidewire is one of the most recognized platform providers in the insurance industry today and we are proud to be working with the company,” said Stan Smith, founder and CEO, Gradient AI. “As a part of the Guidewire Insurtech Vanguards program we look forward to helping insurers improve underwriting and claim processes with our AI-power insurance solutions.”
Insurtech Vanguards is a community of select startups and technology providers that are bringing novel solutions to the P&C industry. As part of the program, Guidewire provides strategic guidance to and advocates for the participating insurtechs, while connecting them with Guidewire’s P&C customers.
“Gradient AI is an effective, innovative, and proven insurance solution providing insurers the intelligence needed to significantly improve their efficiency and profitability in claims and underwriting operations,” said Laura Drabik, chief evangelist, Guidewire. “We are thrilled to welcome Gradient AI as part of our program so our mutual customers can harness the powerful benefits of AI and its competitive advantages in pricing, underwriting, and claims management.”
Gradient AI’s underwriting and claims dataset combined with its machine learning capabilities enable insurers to improve underwriting and claims outcomes. On the underwriting side, Gradient AI improves pricing accuracy, reduces loss ratios, and helps insurers to turn quotes around more quickly. On the claims side, it enables claims managers to reduce the duration and cost of claims. Gradient’s AI solutions learn from an insurer’s own data and from the company’s high-resolution federated database with millions of observations and ten times the features of traditional assessment processes.
About Gradient AI:
Gradient AI is a leading provider of proven artificial intelligence (AI) solutions for the insurance industry. Its solutions improve loss ratios and profitability by predicting underwriting and claim risks with greater accuracy, as well as reducing quote turnaround times and claim expenses through intelligent automation. Unlike other solutions that use a limited claims and underwriting dataset, Gradient’s software-as-a-service (SaaS) platform leverages a vast dataset comprised of tens of millions of policies and claims. It also incorporates numerous other features including economic, health, geographic, and demographic information. Customers include some of the most recognized insurance carriers, MGAs, TPAs, risk pools, PEOs, and large self-insureds across all major lines of insurance. By using Gradient AI’s solutions, insurers of all types achieve a better return on risk. To learn more about Gradient, please visit https://www.gradientai.com.