Planck Launches First GenAI-Enhanced Underwriting Workbench Solution
Planck Launches First GenAI-Enhanced Underwriting Workbench Solution
Planck has unveiled an innovative underwriting tool named Planck PLUS - a new platform that incorporates advanced Generative AI (GenAI) functionalities, marking a significant milestone in the evolution of underwriting processes.
Planck Revolutionises Business Risk Analysis with Integration of Latest GPT Technology

The insurtech, which is a recognised industry leader in AI-driven risk research and data solutions for the commercial insurance sector, says Planck PLUS stands as both a strategic companion and a powerful toolkit, harnessing cutting-edge AI technologies and proprietary machine learning models to establish a novel benchmark in underwriting.

According to Planck executives, it revolutionises risk research, insight generation, data attribution transparency, and automation within the industry.

One of the standout features of Planck PLUS is its ability to generate comprehensive queries based on basic input from underwriters. Moreover, it goes a step further by suggesting new and pertinent questions, drawing from models specifically trained for the intricacies of commercial insurance. These strategic prompts, coupled with an exhaustive digital profile of a business, direct the full potential of GenAI towards achieving a carrier’s precise underwriting objectives.

Notably, Planck PLUS operates within a closed data ecosystem, addressing common concerns surrounding data privacy while also significantly reducing errors that often plague other generative platforms. This holistic approach positions Planck PLUS as a game-changer in the commercial insurance landscape, empowering insurers with unprecedented capabilities to make informed underwriting decisions.

Speaking about the launch,  Noa Kalechstain, VP Product Strategy at Planck said, “It’s like having a veteran underwriter sitting next to you. The platform is extremely intuitive, the recommendations are insightful, and PLUS Chat even allows you to follow up any risk detail with additional questions. This is an industry game-changer.”

According to reports, the simplicity of the Planck PLUS environment belies the immense power of GenAI working behind the scenes. Planck meets each carrier at their unique stage of digitization and AI integration, so Planck PLUS is a perfect solution for insurers looking for a reliable real-time data resource as well as those wondering how to augment or replace an existing policy process flow.

Planck Co-Founder and CEO Elad Tsur explained: “Planck PLUS is reshaping how underwriters access, analyze, and interpret risk data. GenAI has shown its ability to revolutionize every industry it touches. With Planck PLUS, this transformative power is harnessed in a single, comprehensive, easy-to-use workbench built specifically for commercial insurance.”

He added: “Planck PLUS helps underwriters navigate vast amounts of data, uncover opportunities, and enable automations to increase written premiums and improve underwriting profitability.”

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