Sayata Unveils AI-Powered Risk Engine That Flags High-Risk Accounts
Sayata has launched the Sayata Risk Engine, an AI-powered platform that uses sophisticated AI to flag specific high-risk accounts expected to drive up loss ratios.
Sayata’s Risk Engine’s SmartExtrapolation technology uses Sayata’s proprietary AI to draw intelligent conclusions when traditional data sources fail. The Risk Engine Employs a proprietary methodology that assists in separating data signals from noise. Sayata’s data experts continually vet data providers, regularly testing and curating reliable data sources. Carriers that adapt portfolios based on Sayata Risk Engine findings can realize a 10-point reduction in loss ratios.
“Our team of experts in AI, data, actuarial sciences, and insurance underwriting worked tirelessly to develop the Sayata Risk Engine with a singular focus: to provide insurers with a strategic advantage,” said Asaf Lifshitz, CEO of Boston-based Sayata. “We offer a safety net that enables our partners to broaden their risk appetite while enhancing their overall profitability.”
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Canopy Connect and Hawksoft Launch Integration to Eliminate Data Entry
Canopy Connect and HawkSoft launched a new integration that enables insurance agents to collect verified insurance data through Canopy Connect and import it into HawkSoft to eliminate data entry.
Canopy Connect is a San Francisco-based insurance data intake platform, while HawkSoft, headquartered in Canby, Oregon is a management system for independent insurance agencies
With the new integration, HawkSoft agencies can use Canopy Connect to have clients securely share their insurance information. Clients sign in with their current carrier credentials through a secure link. Canopy Connect’s data intake platform will retrieve policy information, drivers, claims and more and easily export that data for use in HawkSoft.
“Getting accurate insurance information is a challenge that Canopy Connect has been solving for years,” said Rushang Shah, chief marketing officer at HawkSoft. “Getting that data into the system an agent lives in during their business day, without data entry, is what this new integration between Canopy Connect and HawkSoft accomplishes.”
“We became partners with HawkSoft with the common goal of helping agencies grow and removing friction from the agent and client experiences,” said Tolga Tezel, founder and CEO at Canopy Connect.
Canopy Connect joined HawkSoft’s Solution Partner program in 2023.
Topics Agencies InsurTech Tech Data Driven Artificial Intelligence
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