AI-Driven Underwriting and the Bionic Underwriter

10 days ago

Andrew, CEO

"I will say that GPTs and natural language models are fundamentally changing how we think about our underwriters, turning them into what we call a bionic underwriter. Using an American football analogy, a traditional underwriter starts on their own 25-yard line, but with AI we essentially run back to the opponent's 20-yard line before the first offensive play is run. We might receive a submission that is ten, 20, or even 100 pages of complex data about risk, and our AI ingests all that information almost with zero human intervention. This enables our core systems, including pricing, to generate a robust narrative for our underwriters instead of having them pore over endless details."

Andrew explains the innovative integration of AI in Skyward's underwriting process, describing how the adoption of GPTs and natural language models creates a 'bionic underwriter' that enhances efficiency and risk evaluation. This technological advancement is positioned as a long-term competitive edge for the company.