Introducing Pibit.ai: Revolutionizing Commercial Underwriting for P&C Insurers and MGAs

Pibit.ai is transforming the commercial underwriting landscape by leveraging AI to provide insurers and Managing General Agents (MGAs) with unparalleled insights into loss run data. This innovative solution converts raw loss run files into comprehensive, actionable reports, enabling underwriters to make more informed decisions. Key features include detailed loss summaries, in-depth account insights such as claim severity and carrier loyalty analysis, and the ability to identify where and why losses occur. Clients like Michaela Morrison, SVP Operations at Method Workers' Comp, and Danil Kolesnikov, Founding Engineer at Shepherd Insurance, have already seen significant improvements in underwriting efficiency and accuracy. Pibit.ai is not just a tool; it's a game-changer for anyone in the underwriting process.

Loss Summaries

Pibit.ai's Loss Summaries feature provides a detailed summary of policy history, enabling insurers and MGAs to understand loss trends and make informed underwriting choices. By analyzing historical data, users can identify patterns and anomalies that could impact future risk assessments. This feature is crucial for enhancing underwriting efficiency, as it allows for a more data-driven approach to decision-making. The insights gained from Loss Summaries help users to better manage their portfolios and mitigate potential risks, ultimately leading to more accurate and effective underwriting decisions.

In-Depth Account Insights

Pibit.ai's In-Depth Account Insights feature offers a comprehensive analysis of various aspects of account performance, including claim severity, carrier loyalty, delayed claims, and large losses. This feature allows users to assess the severity of claims by viewing loss distributions and categorizing claims into specific ranges. Additionally, it helps in analyzing customer loyalty by examining coverage history with each carrier. The ability to identify delayed claims and substantial losses provides a more nuanced understanding of risk profiles. This feature is essential for making better, more accurate underwriting decisions, as it offers a holistic view of account health and potential risks.

Identify Where and Why Losses Occur

Pibit.ai's 'Identify Where and Why Losses Occur' feature is designed to help insurers and MGAs track coverage-specific losses and spot accident trends. By assessing where losses occur across different coverages, users can uncover which coverages are most affected and take appropriate measures to mitigate risks. This feature also differentiates between recurring incidents and one-off isolated events, providing a clearer picture of risk patterns. The ability to identify the root causes of losses is invaluable for enhancing underwriting efficiency and making more informed decisions. This feature ensures that users have a comprehensive understanding of their risk landscape, enabling them to make strategic adjustments to their underwriting strategies.