In a changing world, insurers must manage a new range of risks when offering cover, and underwriters need access to robust information for areas that can be difficult to price. Emerging risks such as cyber-attacks and climate security have little precedent on which to base risk predictions, but underwriters must make quick decisions given the advantage first movers get in the insurance industry.
Federato’s AI/ML platform provides real-time insights into risk, empowering insurers to make equitable and sustainable choices. It provides automated, intelligent assessment of applications, reducing the strain on underwriters and enabling them to use data in a way that the industry has not yet done. Federato labels its approach as 'Risk Ops', and is targeting the $150bn insurance gap with its Saas-based solution.
With several strategic partnerships under its belt and a recent capital infusion earmarked for propelling the company's growth, Federato is at the forefront of applying AI and Reinforcement Learning to the complex task of portfolio optimization. This financial injection is poised to fortify Federato's position as an industry leader, enabling the continued integration of a diverse array of machine-learning techniques to ensure a positive and enduring impact on the insurance sector.
Freddie
Company Specialist at Welcome to the Jungle