The North Carolina League of Municipalities (NCLM) has adopted Gradient AI’s SAIL solution to improve its underwriting processes.
The NCLM is a non-profit organisation administering several self-insured pools including the Health Benefits Trust.
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Gradient AI’s SAIL offers risk insights by analysing medical, prescription and lab data with machine learning (ML) algorithms.
The improved visibility allows the NCLM to differentiate between groups of the same size but with varying risk profiles.
The tech vendor claims that the implementation has “significantly” enhanced the NCLM’s operational efficiency and the speed of decision-making.
NCLM strategic operations director Youssou Fall said: “Having good KPIs and predictive models has been instrumental in refining our underwriting approach. We can now override and adjust premiums for riskier groups and offer more competitive rates for healthier groups. This precision pricing helps us attract and retain more profitable business while mitigating potential losses by pricing policies commensurate with each group’s unique risk.”
Fall also highlighted the benefits of the intuitive dashboard provided by SAIL, which allows his team to assess loss ratios and other key performance metrics.
This enhancement is said to be valuable during the renewal season and for managing groups with varying benefit cycles, enabling data-driven decision-making.
Gradient AI CEO and founder Stan Smith said: “We are proud to support NCLM in achieving its goal of making more precise, data-centric decisions in underwriting and risk management. As a result, the organisation can more accurately assess risk profiles and tailor member benefits. This is an important step in optimising underwriting strategies to better align with the diverse needs of its members.”
Last month, Illinois-based Evolution Risk Partners also adopted Gradient AI’s SAIL tool to increase decision-making accuracy for its self-funded clients.
