Relativity6 Launches AI-Powered Hazard Flags to Detect Risk in Commercial Insurance Submissions
CAMBRIDGE, Mass., March 16, 2023 /PRNewswire/ -- Boston-based AI solutions provider Relativity6 has announced the release of its latest tool, Hazard Flags. The new product utilizes advanced machine learning algorithms to detect potential risks in commercial insurance submissions, helping insurers streamline their underwriting processes and make better-informed decisions about policies.
With Hazard Flags, insurers can quickly and accurately identify potential hazards and red flags in insurance submissions, allowing them to make more informed decisions about which policies to accept and which to reject. The technology works by analyzing 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.
The tol is a prime example of how artificial intelligence is transforming the industry, making it more efficient and effective. With the amount of data generated by insureds increasing every day, the ability to quickly and accurately assess risk is becoming increasingly important.
"We believe that Hazard Flags has the potential to revolutionize 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 release of Hazard Flags comes at a time when insurers are increasingly turning to artificial intelligence to improve their underwriting processes. With more data than ever before available to insurers, the ability to quickly and accurately analyze that data quickly is becoming essential.
Relativity6's AI platform retrieves up-to-the-second information about a business in order to automatically detect its 6-digit NAICS code and verify its existence. Relativity6 is the fastest and most accurate NAICS detector on the market, improving commercial underwriting workflow and overall business classification and segmentation. For more information visit: www.relativity6.com
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