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Planck PLUS

avtor: Planck Re, Inc.

Planck uses GenAI and LLMs for advanced commercial insurance risk selection and underwriting.

Revolutionizing Commercial Insurance Underwriting with GenAI

Planck has pioneered the use of GenAI in commercial insurance risk research, creating, fine-tuning, and implementing multiple advanced large language models (LLMs) for data analysis and AI-assisted underwriting.
Planck PLUS is more than data — it’s an intelligent underwriting assistant, co-pilot, and mentor that generates actionable insights across the insurance lifecycle.
Planck PLUS combines the power of comprehensive real-time information retrieval and verification with advanced language and image processing to deliver revolutionary features, including insight generation, query-recommendation, process automation, chat functions, and more!

PLUS Insights: Business Description

With minimal input, the Planck PLUS underwriting workbench automatically collects, analyzes, and presents comprehensive underwriting data in a concise business profile.
Created by an integrated GenAI, the Business Description section provides a quick reference to the business’s key attributes, risk factors, and noteworthy features.

PLUS Insights: Underwriting Co-Pilot

The underwriting copilot visualizes overall risk assessments, with a display that allows for quick interpretations of risk factors. Essential insights are presented in a clear and digestible manner, enabling focus on critical areas that may impact underwriting decisions.
Business Reviews aggregates customers feedback about the business, enriching the level of details available. Maps and streetview give the underwriters a direct view of the business entrance and surroundings, and complement the geo-location analysis.

PLUS Insights: Key Words

The keyword section summarizes services, features, and unique risk exposures associated with a business. These keywords quickly alert the underwriter to potential liabilities for a more comprehensive risk evaluation. In this example, the keywords “Mechanical Bull” and “Country Line Dancing” suggest possible exclusions for coverage that might have been missed.
At a glance, underwriters have several suggestions for additional research. Combined with PLUS Chat, it’s like sitting next to a veteran underwriter and research partner, driving more informed decisions and a more robust risk management strategy.

PLUS Chat: Ask Any Question

With PLUS Chat, users can now ask any question related to commercial insurance risks, receiving prompt and accurate responses. Just engage the GenAI in a natural conversation to gain valuable insights into a business’s risk profile. This level of transparency is an underwriting game-changer. Understand the reasoning behind risk predictions, obtain detailed explanations, and dig deeper into keywords. Gain greater confidence in risk assessment and a deeper understanding of risk insights.

PLUS REASONING: Understand the “Why”

Planck PLUS is enhanced by GenAI, which provides unprecedented data clarity and transparency. Underwriters can see the reasoning behind insight predictions, and then ask conversational questions in PLUS Chat for a deep understanding of potential exposures.
For example, the reasoning for a liquor insight at a plant nursery inspires an underwriter to ask a few questions in PLUS Chat. The underwriter discovers that the business does not actually serve alcohol directly, but does allow third-party vendors to provide wine at the events they host on site.
This interactive approach empowers underwriters to refine risk assessments collaboratively with their digital assistant and build a full picture of the business.

Reach out to our sales team at sales@planckdata.com to get a custom private offering, based on your use-case.

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