Planck launches proprietary risk search engine for commercial insurers
Replaces traditional consumer search engines for more accurate, relevant results and streamlined business risk insights
NEW YORK, Aug. 9, 2022 (GLOBE NEWSWIRE) — Plancka leading AI-powered business intelligence platform, unveiled a new risk search engine built specifically for commercial insurance research.
Planck’s newly developed risk search engine solves the shortcomings of traditional research methods, which are inefficient and time-consuming. Relevant answers are often buried or simply do not exist in the public domain. The proprietary solution provides real-time results mined from billions of public sources and unindexed public records. Accessible via an on-demand web application or API integration, the complete and up-to-date digital presence of a business is returned collectively.
“Underwriters no longer have to spend hours of valuable time reading endless pages of information intended for everyday consumers,” said Noa Kalechstain, vice president of product strategy at Planck. “Planck is the only platform that provides the focused, relevant online results they need about the businesses they write about – with just a single search.”
Results can be sorted by source type, including a map outlining additional geospatial risk data. Additional refinement features are built in to enable underwriters to filter within the results offered and uncover answers to their specific underwriting questions.
“Our platform is built to understand risk and go beyond basic, firmographic business data. This streamlined access to critical information gives insurers a complete picture of a business to make critical underwriting decisions quickly and accurately, allowing them to pivot to the more complicated challenges, Kalechstain said.
With the built-in feedback feature, users can easily train the returned insights to inform their individual search engine algorithm models and ensure that future results are prioritized based on the insurer’s specific needs. The out-of-the-box risk search engine is available today and can be quickly deployed for both new and existing customers.
Top insurance companies in the US, Europe and Japan are already benefiting from Planck’s offerings, such as Attune, Chubb, Indemnification of the Republic (Great American Insurance Group) and Sompo.
The suite of benefits from Planck continues to grow, and additional products are planned for launch during 2022.
About Planck
Planck, an automated AI-powered data platform for commercial insurance, has addressed the industry’s long-standing need for real-time accuracy and truth. Planck enables insurers to drive service and underwriting excellence by connecting the most up-to-date insights, with just a company name and address. Global carriers, MGAs and insurtechs leverage Planck’s end-to-end solution for customer acquisition and growth strategies, pre-filling and submission validation, underwriting new business, renewing existing policies, premium audits and more. The platform makes risk management much faster and more predictable, resulting in increased premium income while reducing losses and expense ratios.
Planck was founded by a team of relentless entrepreneurs with extensive backgrounds in insurance and technology and has nearly 100 employees globally. The company has raised $50 million to date led by 3L Capital, Greenfield Partners, Arbor Ventures, Viola Fintech, Team8 and Eight Roads.
For more information, visit www.planckdata.com.
Media contact
Audrey Wayne
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