Pibit

Enhance Underwriting Decisions with Accurate Loss Run Insights

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Description

Pibit is an AI-powered platform designed for the insurance industry, specifically targeting commercial underwriting workflows for Property & Casualty (P&C) insurers and Managing General Agents (MGAs). It addresses the challenge of processing and interpreting complex loss run files by automatically converting them into comprehensive, structured reports filled with actionable insights. The primary goal is to significantly enhance the efficiency and decision-making capabilities of underwriting teams.

The tool delivers deep analysis of insurance accounts by providing detailed loss summaries to identify trends and guide underwriting choices. It offers in-depth insights into claim severity through loss distribution analysis, assesses customer loyalty by examining coverage history across carriers, and flags claims reported significantly later than expected. Pibit also helps users easily identify and evaluate large losses that heavily impact risk profiles. Its advanced language models automatically categorize coverage types and accident descriptions from unstructured text, enabling precise tracking of coverage-specific losses and the identification of recurring accident patterns versus isolated incidents for a more accurate risk assessment.

Key Features

Loss Summaries Generation: Access a detailed summary of policy history to understand loss trends.
In-Depth Account Insights: Leverage insights on claim severity, carrier loyalty, delayed claims, and large losses.
Claim Severity Analysis: Assess claim severity by viewing loss distributions and categorizing claims.
Carrier Loyalty Analysis: Analyze customer loyalty by examining coverage history with each carrier.
Delayed Claims Identification: Identify claims reported significantly later than expected.
Large Loss Identification: Easily identify and evaluate substantial losses impacting risk profiles.
AI-Powered Categorization: Language models categorize coverage and accident descriptions for risk assessment.
Coverage-Specific Loss Tracking: Assess where losses occur across different coverages.
Accident Trend Spotting: Differentiate recurring incidents from isolated events.