2-question quoting
A business name and an address.
That’s all you need to generate an automatic quote at the speed of light.
The #1 User Experience
Dramatically reduce the time an agent or business owner needs to invest in a submission to receive an accurate quote.
Reduce Loss Ratios
Improve Pricing adequacy – More accurate and complete data is fundamental for better pricing and lower losses. Planck helps reduce unanswered questions and default answers by 1,000%.
Increase Submission Volume
Increase agent productivity by automating submissions, becoming their favorite go-to carrier.
How does Planck’s 2-question quoting process work?
With only a business name and an address, Planck’s AI collects all publically available data about that entity. The carrier receives all the relevant risk and underwriting information to generate a quote for the application, minimizing producing time and efforts to close to zero.
1.
When a submission form is filled with a business name and address, Planck receives these inputs in real time.
2.
Planck collects, processes and generates all answers and sends them automatically to the carrier’s raters or core policy admin platforms.
3.
The carrier returns accurate quotes automatically.
What will change with Planck?
Business owners and agents no longer need to spend time reviewing the submission form and can quickly and automatically get a quote or answer.
Loss Ratios decreased by:
- 1–3%
Accuracy:
0
%
Increased GWP:
- 0.5%
per streamlined application question automated or eliminated
Submission Time:
Hours
Seconds
Submission Completion:
- Increase by +50%
“Planck’s tech enables us to ask questions that we were never able to ask before.”
“Wait, but…”?
Can Planck help eliminate existing questions from submission forms?
Yes. That is exactly the suggested use case. By achieving accuracy and coverage levels above 90% across small and medium business segments, Planck allows this visionary use case to become a reality.
What does Planck’s coverage rate look like?
Planck offers the highest hit rate in the industry, finding information and insights for more than 90% of small and medium businesses in a given segment.
How long does it take Planck to create data insights?
Response times can be configured according to the use case. For the vast majority of applications with dozens of questions, it’s under 5 seconds. For specific use cases, it can be as fast as under 1.5 seconds.
What is the completion rate for a submission form, on average?
Planck is usually able to answer more than 90%, frequently even more than 95%, of questions in application forms.
How does Planck ensure its data is of high quality?
Planck’s AI data platform collects data from thousands of sources, and using sophisticated models, it extracts valuable information from each and every data piece to decipher the most accurate answers. Using validated data sets, the platform continuously tests itself and adapts to ensure the highest accuracy levels.
