Advanced AI Model Delivers Enhanced Accuracy and Speed with Improved Compliance for Insurers

Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions in the insurance industry, today announced the release of its enhanced Workers’ Compensation Underwriting Risk Score Solution. The new version delivers advances in risk scoring accuracy, regulatory compliance, and implementation speed.

The release also provides an industry leading, risk-segmenting workers’ compensation AI model. Gradient AI designed, trained, and validated its workers’ compensation AI model to ensure fairness using a methodology aligned with evolving regulatory standards, including guidance from the National Association of Insurance Commissioners and various state AI circulars.

Key Innovations

• Improved Model Accuracy: The enhanced AI model, trained on a national dataset consisting of tens of billions of dollars in workers’ compensation premiums, along with third-party and proprietary features from Gradient AI’s contributory claims dataset, delivers sharper risk segmentation. This enables insurers to price policies more accurately and avoid unprofitable risks.
• Faster Implementation: Built on Gradient AI’s comprehensive dataset, implementation times can now be reduced from months to days, with no dependency on client data for initial setup.
• Fairness: The model is designed, trained, and tested to meet regulatory standards, setting a new benchmark for ethical AI in insurance underwriting. For more information, visit the Gradient AI contact page to request the whitepaper on regulatory compliance and ethical AI in underwriting.

Significant Results for Insurers

Early adopters of Gradient AI’s Risk Score Solution have achieved:

• 5-point improvement in loss ratios
• 80% faster quote turnaround times
• 86% increase in bound premium

“With this release, we’re empowering insurers to underwrite smarter, grow faster, and stay ahead of regulatory scrutiny,” said Stan Smith, founder and CEO of Gradient AI. “Our regulatory compliant model and improved accuracy gives carriers the tools they need to make data-driven decisions and grow profitably, while being prepared for future AI regulations.”

Industry-Leading Differentiation

Gradient AI’s solution outperforms traditional and consortium-based models by combining job-specific risk scoring, proprietary claims data from more than 200 carriers and MGAs, and a regulatory compliant model – features absent in legacy approaches.

The enhanced Workers’ Compensation Underwriting Risk Score Solution is available now. Insurers can learn more, schedule a demo, or request a policy scoring assessment here.

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 AI’s software-as-a-service (SaaS) platform leverages a vast industry data lake comprising 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, MGUs, TPAs, risk pools, PEOs, and large self-insured employers 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 AI, visit: https://www.gradientai.com or follow on LinkedIn.

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