Planck
Planck provides generative AI solutions for commercial insurance underwriting, offering products like Planck PLUS to enhance underwriting efficiency and accuracy.
Services
Planck offers generative AI (GenAI) solutions tailored specifically for commercial insurance underwriting. Its flagship product, Planck PLUS, delivers actionable insights, answers, and recommendations directly to underwriters. This includes advanced features such as PLUS Data for improved underwriting data and classifications, and PLUS Risk Workbench for a more efficient underwriting process. Planck's AI tools support the entire insurance continuum, from marketing and lead generation to underwriting automation and actuarial modeling. Enterprise-level solutions are also available to streamline processes, increase profitability, and reduce costs.
Planck PLUS
Planck PLUS is the primary GenAI solution offered by Planck, designed to enhance the underwriting process. It integrates features such as the PLUS Risk Workbench, which optimizes the underwriting journey from submission to bind to renewal, and PLUS Data for superior data and classification capabilities. Planck PLUS includes comprehensive business classification elements, ensuring a full understanding of the business risk. This product also incorporates GenAI tools for content summarization and market accuracy, focusing on sectors like Restaurants, Bars, and Taverns. Additionally, Planck PLUS supports underwriters with a chat function to ask specific questions and build nuanced risk assessments.
AI Capabilities
Planck's AI capabilities provide a substantial view of business risks, trained explicitly for commercial insurance underwriting. It offers evidence-backed transparency and confidence scoring, along with unique insights customization to match specific risk definitions. The AI includes features for summarizing and classifying content with high accuracy, supporting all 1,012 six-digit NAICS codes. The GenAI tools are designed to answer 'Yes' or 'No' questions and focus on the targeted sectors of Restaurants, Bars, and Taverns. Planck's AI also offers API integration and user interface options for accessing data in various formats.
Risk Workbench
The Risk Workbench is a key component of Planck's Planck PLUS product, intended to enhance the underwriting process from the point of submission through to binding and renewal. It features GenAI-powered chat capabilities and provides access to the reasoning and data supporting its insights. The Risk Workbench includes mechanisms for streamlining the underwriting workflow and delivers immediate, data-based feedback to improve decision-making. By encompassing comprehensive and accurate classifications and pre-trained insights relevant to various business classes and lines, the Risk Workbench aims to fully equip underwriters throughout their risk assessment process.
Enterprise Solutions
Planck Enterprise offers solutions designed for large-scale implementation within the commercial insurance sector. These enterprise-level solutions focus on integrating GenAI underwriting capabilities to streamline processes, enhance profitability, and reduce costs. The GenAI tools provided can be leveraged across different stages of the insurance continuum, including marketing, lead generation, underwriting automation, and actuarial modeling. Planck's solutions aim to deliver up-to-date classifications and pre-trained insights that are crucial for various business classifications and lines of business, ensuring a comprehensive and effective approach to commercial insurance underwriting.