Real-time insights on property occupancy exposures refine risk qualification and minimize coverage gaps for insurers and property owners

NEW YORK, USA, August 8, 2023/EINPresswire.com/ -- NeuralMetrics, a leading provider of AI-generated commercial underwriting data, has added Lessor’s Risk Only (LRO) capabilities to its risk-quality data platform. Powered by generative AI and Large Language Models (LLM), the platform offers detailed, dynamic information on tenant occupancy risks. It enables insurers to advise property owners on suitable occupancy coverage and precise policy pricing, while streamlining risk intake and curtailing premium leakage.

Lack of in-depth and accurate perspectives on property occupancy risks is a common challenge for insurance organizations. With just a business name and address, the NeuralMetrics LRO offering provides fresh, comprehensive information, facilitating efficient validation of tenant business operations and associated risk factors. The data solution complements agent submissions and enables extensive prequalification of occupancy exposures.

"The availability of broad LRO data gives underwriters an instant, transparent understanding of occupant risk factors, streamlining risk assessment and empowering more precise coverages and quotes," said Chris Schrenk, chief underwriting officer at NeuralMetrics. "With just a few clicks, underwriting teams can access a wealth of reliable tenant information that was previously challenging to obtain."

The solution features advanced workflow functionality, enabling dynamic and efficient occupancy risk assessment. A user-friendly interface ensures a seamless experience for underwriters, allowing easy navigation of occupant data to retrieve and clearly organize exposure details.

Underwriters can have complete visibility into the data used to determine risk factors, including an immediate view of each data source. Real-time transparency facilitates understanding of lessor’s risk profiles, enhances regulatory compliance, and boosts durable portfolio performance.

About NeuralMetrics

NeuralMetrics (www.neuralmetrics.ai) leverages generative AI to provide timely risk-assessment data, facilitating accurate, contextual commercial underwriting for property/casualty insurance organizations. The company’s easy-to-deploy, AI-powered data platform extracts actionable, industry-compliant risk-quality insights — instantaneously and transparently — from dynamic, public sources of information. To help drive straight-through processing, the real-time NeuralMetrics data platform enables detailed industry classification and incisive underwriting, so insurers and program administrators/MGAs can deliver fast, precise policy quotes to distribution partners and policyholders. Up-to-the-minute data from NeuralMetrics also supports lessor’s risk assessment, book roll analytics, exposure monitoring, premium audit, and renewal management, as well as market analysis for lead qualification and in-appetite expansion of account portfolios.

Candace Boyle
the10company
candace.boyle@the10company.com

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