AI-driven platform provides real-time, accurate risk information on small and mid-market businesses — streamlining new business and renewals for agents

NEW YORK, NEW YORK, USA, November 1, 2023 /EINPresswire.com/ -- NeuralMetrics, a leading provider of AI-generated commercial underwriting data, today announced an agreement with The Cincinnati Insurance Company to provide risk-quality insights for Lessor’s Risk Only (LRO) policies, enhancing the insurer’s small business underwriting processes for tenant occupancy risk. This new initiative is an extension of an ongoing relationship between Cincinnati Insurance and NeuralMetrics to provide critical, precise classification data and risk intelligence in real-time from structured and unstructured public information about small and middle market businesses.

Using the latest AI technology, along with large language models and machine learning, NeuralMetrics automates and enriches data-driven underwriting, providing up-to-the-minute insights on occupancy risks, and helping to accelerate the quote-to-bind process. Accordingly, Cincinnati Insurance gains detailed and accurate perspectives into tenant exposures that meet the company’s risk tolerance.

Bob Weishaar, VP Small Business Analytics at Cincinnati Insurance, explained “At the outset of our relationship, the primary focus was on automating risk-quality data retrieval for small businesses without relying on agents to provide information. NeuralMetrics quickly grasped our company’s unique needs and has continually demonstrated considerable agility in developing its AI-enabled data engines to address important risk-assessment challenges and use cases. The LRO product underscores NeuralMetrics adaptability and understanding of our requirements.”

“Our organization is excited to provide a unique, AI-based LRO risk-assessment solution for Cincinnati Insurance and assist in strengthening tenant occupancy underwriting processes, while enhancing our client’s portfolio growth opportunities with its distribution partners,” said Prakash Vasant, CEO of NeuralMetrics. “We’re focused on addressing the persistent challenge of access to meticulous, timely risk insights in the rental property market. Additionally, NeuralMetrics continues to ensure all risk information contains transparent sourcing and validation, and we include confidence scoring for the assurance of underwriters.”

About The Cincinnati Insurance Company
Headquartered in Fairfield, Ohio, The Cincinnati Insurance Company is the lead subsidiary of Cincinnati Financial Corporation. The company aims to continuously strengthen service by offering agents and policyholders a strong local presence, unparalleled claims service, and competitive insurance products for their business, home, auto and life insurance needs. Cincinnati’s financial strength, stability and ethical approach allow us to better serve agents, help people recover financially after covered losses and build value for shareholders. Visit www.cinfin.com to learn more.

About NeuralMetrics
NeuralMetrics (www.neuralmetrics.ai) leverages generative AI to provide timely risk-assessment data, to facilitate 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, exposure monitoring, renewal management, premium audit, and book roll analytics, as well as market analysis for lead qualification and in-appetite expansion of account portfolio.

Candace Boyle
the10company
candace.boyle@the10company.com

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