Planck launches genAI underwriting tool

Commercial insurance data platform Planck has launched a new underwriting tool that utilises advanced generative artificial intelligence (genAI) functionalities.

The solution is called Planck PLUS and gives users the ability to generate comprehensive queries based on basic input from underwriters.

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.”

Planck PLUS operates within a closed data ecosystem, addressing common concerns surrounding data privacy while also reducing errors that other generative platforms have experienced.

Co-Founder and CEO Elad Tsur added: “Planck PLUS is reshaping how underwriters access, analyse and interpret risk data. GenAI has shown its ability to revolutionise 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.

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