Prodigy Health Insurance Services is set to leverage Gradient AI‘s underwriting solution to bolster its medical stop loss insurance offerings.
The collaboration intends to utilise Gradient AI’s SAIL solution for group health underwriting, enabling quoting for new business and aiding in transitioning clients to more cost-effective self-insured plans.
The move will also bolster Prodigy’s offerings, employing data analytics to drive proactive healthcare management and cost reduction strategies.
SAIL stands out due to its exceptional capability to utilise prescription, medical, and laboratory data extensively for predictive insights. It remains unparalleled in the group medical insurance sector as the sole solution providing such comprehensive data from a single source.
Prodigy Health Insurance Services is a managing general underwriter (MGU) specializing in medical stop loss insurance. Their Integrated Health Solutions cater to employers, providing fixed monthly costs for administration, claims payments, and stop-loss insurance.
John Youngs, CEO of Prodigy, said, “We chose Gradient AI because it provides the most accurate assessment of risk and healthcare utilisation, leading to more effective healthcare risk management and predictable insurance plan costs. SAIL’s analytics enable us to help our clients be more proactive about their employees’ healthcare, driving better patient outcomes while controlling costs.
“Its high-quality medical data and advanced analytics have been a game changer, allowing us to transition fully insured businesses to more effective self-insured plans while enhancing healthcare outcomes,” he added.
Stan Smith, CEO of Gradient AI, said, “We are thrilled to collaborate with Prodigy to enhance their medical stop loss insurance business. Our SAIL solution empowers Prodigy to optimise their offerings, enabling clients to transition to self-insurance while maintaining a strong focus on healthcare quality and cost-effectiveness.”
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