US-based Roundstone Insurance has chosen enterprise artificial intelligence (AI) software provider Gradient AI’s SAIL solution to improve its risk assessment and underwriting process.
The firm has selected Gradient AI’s SAIL Solution for Group Health Underwriting, which features machine learning capabilities and can access huge amounts of de-identified data to evaluate risk for its member firms.
Go deeper with GlobalData
SAIL also has the capability to use prescription, medical and lab data to offer forecasts.
Leveraging SAIL’s data analytics and AI features, Roundstone can visualise in addition to evaluating specific group risks and drivers.
Roundstone Insurance underwriting manager Bruce Dunham said: “Gradient AI enables us to get an objective snapshot projection of claims within minutes of submission.
“More importantly, we get the critical information we need without conducting time-consuming personal health questionnaires, which can be tedious, error-prone, and viewed by employees as intrusive.”
Roundstone specialises in providing affordable employee health insurance to SMBs.
Using its self-funded group captive tool, member organisations are able to save on average 20% per year.
Gradient AI founder and CEO Stan Smith said: “We are thrilled that SAIL is proving to be an effective tool for Roundstone at both an employer and employee level.
“We look forward to continuing this relationship and supporting Roundstone’s mission to provide affordable, quality healthcare plans to companies of all sizes.”
In October last year, Gradient AI bought Prognos Health unit to enhance underwriting capabilities.
