The company was named in Gartner’s prestigious ‘Insurtechs Adding GenAI’ report for 2023, solidifying its position as a key contributor to the evolving landscape of insurance technology.
Gartner’s report highlights the significance of GenAI within the insurance sphere, highlighting its applications across various industry sectors and its adoption among early pioneers. Planck’s inclusion in the report stems from its pioneering solutions that address common challenges faced by commercial and life insurance sectors, according to Gartner analysts.
According to the report, the heart of Planck’s success lies in its adept use of Gen AI, which empowers commercial insurers, agents, and underwriters with real-time risk and underwriting insights. This strategic approach ensures transparency and efficiency throughout the insurance process, filling a critical void in the market.
Over the past year, Planck has witnessed a remarkable surge in platform users, a testament to its relevance and impact within the industry. Particularly, Planck’s PLUS Risk Workbench has garnered substantial attention among insurance professionals across the United States, reflecting its efficacy in meeting the evolving demands of the market.
“We are honored to be acknowledged by Gartner for our novel approach to GenAI in insurance,” said Planck Co-Founder and CEO, Elad Tsur. “In the commercial insurance sector, the significant potential for automation through GenAI is clear, especially in underwriting, sales, and support.”
He added: “Planck is dedicated to leading in this space, providing top-tier tools and data insights to enhance risk prediction and improve loss ratios for the commercial industry.”
Learn more about Gen AI at Insurtech Insights Europe, 2024
Planck’s co-founder David Schapiro will be taking to the stage at Insurtech Insights Europe, 2024, opening at the InterContinental London – The 02, on March 20-21st,. to talk about “How will Gen AI shape the role of the Underwriter of 2030?”. For more information, visit here.