Automated underwriting

The digital disruption has led to customers increasingly expecting underwriting that’s instant and non-intrusive. AI helps insurers break away from actuarial tables and draws upon additional data sources in order to provide underwriting decisions that reflect the specificity, nuance, and diversity in human life – automatically.

Eliminate manual follow-up

SparkBeyond’s AI-powered technology accurately depicts multifaceted individual behavior and helps build optimal risk profiles specific to an individual or an event.

  • Actuaries use static population averages to determine risk, which means individuals fall into one of the relatively few price bands.
  • Manually analyzing complex medical data to evaluate risk is a long, manual, expensive and deeply imperfect process.
  • Customers increasingly expect low-touch, low-friction products.
  • AI helps directly underwrite customers without further medical assessment, leading to improved customer experience and reduced medical costs.
  • Leverage AI to assign risk by responding to the unique profile and properties of each individual (instead of assigning them to a group based on crude averages).
  • Improve underwriting efficiency and operations by prioritizing data sources to use based on availability and cost.
Why SparkBeyond
  • SparkBeyond’s external data network complements incomplete data profiles, increasing the accuracy in underwriting, as well as enabling its automation.
  • Our transparent AI allows all departments to benefit from interpretable insights that are fair, unbiased, and in compliance with regulations.
  • SparkBeyond’s automated underwriting solutions have generated hundreds of millions of dollars in impact, while being replicated across global business lines.

Learn more

Use case

Claims management

Use case

Fraud detection

Use case

Customer churn

Become the insurer of tomorrow

Learn how you can reshape your customers’ experience with transparent, compliant AI that impacts your top
and bottom lines.