Breaking News
Mulberri Launches AI-Powered Risk Engine for Workers Compensation Underwriters Organizations
Mulberri, an AI-driven embedded insurance platform, today announced the launch of its Risk Engine, a first of its kind risk assessment offering for workers compensation underwriters. The Risk Engine, which is already being deployed by firms like PayChex, uses machine learning models to put the information underwriters need at their fingertips, making it possible to make fast, accurate decisions.
Insurers and underwriters face mounting pressure in their daily work, including an increased volume of applications, difficulties accessing the right data, pressure to minimize losses, and growing competition. Workers’ comp is a multi-billion-dollar market, but these policies are written using manual workflows, archaic processes, and low-tech solutions — leading to friction as well as poor underwriting outcomes. Mulberri designed its Risk Engine to meet the needs of underwriters and their customers, extending Mulberri’s existing portfolio of insurance products for payroll businesses, HR providers, brokers and small-medium businesses.
“Our mission from day one has been to leverage technology to complement underwriters’ judgment so that the business insurance process can be simple, efficient, and transparent,” said Hamesh Chawla, CEO and cofounder of Mulberri. “The Risk Engine is a transformative step forward.”
Mulberri trained its Risk Engine to determine factors that impact claims based on millions of pieces of information including firmographic information, previous loss experience and workers compensation information. The cloud-based product allows intuitive access to predictions on demand from any SaaS application as well as easy deployment. It also enables users to analyze and score prospects one at a time or in bulk. All data is obfuscated, so PII remains safe.
It allows underwriters to make predictions for:
- Claim Propensity—Likelihood of an insured filing a claim in twelve months
- Claim Probability—Likelihood of an insured filing multiple claims in twelve months
- Claim Frequency—Claim repetition in twelve months
- Claim Severity—Severity of the claim should it occur
- Loss Ratio—Expected loss ratio for a given premium
People In This Post
Companies In This Post
- Solvrays and Penn River Partner to Transform Life & Annuities Back-Office Operations Through AI-Driven Orchestration Read more
- DXC Launches Assure Broking Essentials: AI-Powered SaaS for Small and Mid-Sized Insurance Brokers Read more
- Kalepa and SECURA Insurance Announce AI Underwriting Partnership Read more
- Leading UK Insurtech Zego Extends Partnership with Clearspeed Read more
- Ex-Crystal & Co. CFO Launches Venture Fund to Modernize Insurance Read more
Solvrays and Penn River Partner to Transform Life & Annuities Back-Office Operations Through AI-Driven Orchestration
Solvrays, a leader in AI-powered workflow orchestration for insurance operations, today announced a strategic partnership with Penn River, a cloud-native life and annuities policy administration platform. Together, the two companies will help carriers eliminate back-office friction and accelerate key functions such as correspondence generation through intelligent automation.
DXC Launches Assure Broking Essentials: AI-Powered SaaS for Small and Mid-Sized Insurance Brokers
DXC Technology (NYSE: DXC), a leading Fortune 500 global technology services provider, today announced the launch of Assure Broking Essentials, an AI-powered, multi-tenant SaaS solution designed to simplify operations, accelerate transformation, and deliver superior customer service for small and mid-sized insurance brokers.
Kalepa and SECURA Insurance Announce AI Underwriting Partnership
Kalepa, the leader in AI underwriting software for commercial and specialty insurance, is proud to announce a new partnership with SECURA Insurance, a respected mutual insurer with a 125-year legacy of making insurance genuine and putting people and communities first.
Leading UK Insurtech Zego Extends Partnership with Clearspeed
Leading insurtech company Zego has renewed its partnership with Clearspeed, the global leader in voice-based risk assessment. The renewal underscores how two of the most innovative names in insurtech are working together to advance Zego’s award-winning claims management, with expanded applications across the motor insurance landscape.
Ex-Crystal & Co. CFO Launches Venture Fund to Modernize Insurance
Jonathan Crystal, a longtime insurance operator turned solo GP, today announced the close of Crystal Venture Partners $33 million Fund I. The firm brings deep domain expertise and high-conviction capital to back founders building the technology that powers insurance, risk, and resilience.
OpenDialog and Durell Announce Strategic Partnership to Bring AI-Powered Quote Journeys to Insurance E-trade
OpenDialog, the AI Agent platform built to transform customer journeys in insurance, today announced a strategic partnership with Durell, an established provider in the insurance software market.
Nearmap and Zurich Advance Property Underwriting with AI Integration
Zurich North America has partnered with Nearmap to integrate AI-powered property intelligence and high-resolution aerial imagery directly into its U.S. Middle Market underwriting systems. The collaboration is designed to help Zurich underwriters assess risk more efficiently and tailor coverage with greater precision.
Solvrays and Penn River Partner to Transform Life & Annuities Back-Office Operations Through AI-Driven Orchestration
Solvrays, a leader in AI-powered workflow orchestration for insurance operations, today announced a strategic partnership with Penn River, a cloud-native life and annuities policy administration platform. Together, the two companies will help carriers eliminate back-office friction and accelerate key functions such as correspondence generation through intelligent automation.
DXC Launches Assure Broking Essentials: AI-Powered SaaS for Small and Mid-Sized Insurance Brokers
DXC Technology (NYSE: DXC), a leading Fortune 500 global technology services provider, today announced the launch of Assure Broking Essentials, an AI-powered, multi-tenant SaaS solution designed to simplify operations, accelerate transformation, and deliver superior customer service for small and mid-sized insurance brokers.
Kalepa and SECURA Insurance Announce AI Underwriting Partnership
Kalepa, the leader in AI underwriting software for commercial and specialty insurance, is proud to announce a new partnership with SECURA Insurance, a respected mutual insurer with a 125-year legacy of making insurance genuine and putting people and communities first.
Leading UK Insurtech Zego Extends Partnership with Clearspeed
Leading insurtech company Zego has renewed its partnership with Clearspeed, the global leader in voice-based risk assessment. The renewal underscores how two of the most innovative names in insurtech are working together to advance Zego’s award-winning claims management, with expanded applications across the motor insurance landscape.
Ex-Crystal & Co. CFO Launches Venture Fund to Modernize Insurance
Jonathan Crystal, a longtime insurance operator turned solo GP, today announced the close of Crystal Venture Partners $33 million Fund I. The firm brings deep domain expertise and high-conviction capital to back founders building the technology that powers insurance, risk, and resilience.
OpenDialog and Durell Announce Strategic Partnership to Bring AI-Powered Quote Journeys to Insurance E-trade
OpenDialog, the AI Agent platform built to transform customer journeys in insurance, today announced a strategic partnership with Durell, an established provider in the insurance software market.
Nearmap and Zurich Advance Property Underwriting with AI Integration
Zurich North America has partnered with Nearmap to integrate AI-powered property intelligence and high-resolution aerial imagery directly into its U.S. Middle Market underwriting systems. The collaboration is designed to help Zurich underwriters assess risk more efficiently and tailor coverage with greater precision.