Audit Recommendations
Detect and understand changes in risk to in-force policies in your portfolio.
Reduce Loss Ratios
Planck’s Cognitive Business Analytics Platform helps carriers manage their in-force books by allowing real-time, up-to-date views into their exposure.
Reduce Expense Ratios
Reduce engineering and audit costs by spotting the businesses that require special attention.
Collect More Premiums
Monitor the changes in your book to ensure optimal premium updates and collections.
How do Planck’s audit recommendations work?
Planck’s AI collects and processes all information regarding existing policies and returns audit recommendations according to any of the businesses’ exposure changes.
1.
The carrier uploads a list of in-force policies with business names, addresses, and existing rating information to Planck’s Cognitive Business Analytics Platform.
2.
Planck’s AI creates up-to-date insights and generates an audit recommendation following any of the covered businesses’ exposure changes.
3.
The platform provides audit recommendations for any further required actions.
What will change with Planck?
Planck automatically manages any existing customers’ exposure changes, helping determine actual exposure based on the latest data.
Expense Ratios:
- 10-20% improvement
Loss Ratios decreased by:
- 1–3%
Frequently asked questions
How does Planck ensure its data is of high quality?
Planck’s Cognitive Business Analytics Platform collects data from thousands of sources and uses its advanced technology capabilities to create real-time insights and achieve the highest levels of data accuracy in the industry. It continuously validates itself against verified data sets to maintain and improve its accuracy levels.
How frequently does Planck track changes for a given business?
Planck’s AI always creates the most up-to-date insights for a given business at the moment they’re queried. Carriers can choose the frequency that works best for them (i.e., quarterly, bi-annually, etc.).
