Sayata, a pioneer in cutting-edge insurance solutions, has introduced a revolutionary AI-powered platform poised to redefine how insurance carriers and MGAs evaluate and underwrite risk.
The product, known as the Sayata Risk Engine, has emerged as a response to the evolving needs of insurance carriers and MGAs seeking innovative solutions to assess and manage risk efficiently in the SMB sector.
The solution harnesses sophisticated AI algorithms to identify high-risk accounts accurately, enabling insurers to expand their risk appetite and accelerate premium growth while mitigating potential losses.
Key features of the Sayata Risk Engine include SmartExtrapolation technology, designed to draw intelligent conclusions even when traditional data sources are limited, and a proprietary methodology to prevent overfitting.
Additionally, Sayata ensures the reliability of data sources through rigorous vetting and integration processes, reducing costs and complexity for insurers.
Asaf Lifshitz, CEO of Sayata, commented, “Our team of experts in AI, data, actuarial sciences, and insurance underwriting worked tirelessly to develop the Sayata Risk Engine with a singular focus: to provide insurers with a strategic advantage. We offer a safety net that enables our partners to broaden their risk appetite while enhancing their overall profitability.”
“Carriers are naturally skeptical, especially when we share with them the magnitude of the expected impact. So we prove it to them with a simple test on their own data, which establishes a baseline of impact.”
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