Planck Solutions

Improve Submissions

Prefill Policy Application Data Instantaneously

Get all the information you need to underwrite, quote, and bind any policy, automatically filled. Given only a customer name and address, Planck integrates directly with your agents’ or brokers’ workflow, saving time and improving the quality and completeness of underwriting data.

  • Make your company the preferred carrier to do business with
  • Increase submission-to-quote ratios and processing speed
  • Ensure risks are accurately represented on every application

Digital Underwriting

Eliminate most of the questions in your policy application forms. The only two inputs needed are customer name and address. Planck feeds all relevant data and insights straight to underwriting systems and rating models, enabling a fully digital insurance process.

  • Minimize your underwriting expense ratio and increase speed to quote
  • Fully configurable platform to any underwriting/pricing system
  • Planck is ACORD compliant and certified

Additional Data Insights

Explore, test, and use new data and insights by leveraging Planck’s ability to find, capture, and interpret new information about your clients’ risk profiles. Planck intelligently mines the open web and publicly available records in real-time to deliver the most impactful and innovative insurance insights.

  • Improve your market offering and target new segments
  • Optimize pricing, risk underwriting, and product development
  • Turn data innovation efforts into tangible value

Improve Underwriting Efficiency

Policy Data Validation

Planck allows your underwriting team to verify and validate data received from captive and non-captive distribution channels. Planck’s platform seamlessly integrates with your existing application review and approval workflow, which ensures you work with the most accurate and complete client and policy data.

  • Make your company the preferred carrier to do business with
  • Increase submission-to-quote ratios and processing speed
  • Ensure risks are accurately represented on every application

Streamline Renewal

Planck not only monitors changes to in-force policies, but also keeps all relevant information about your clients and their policies current. Low value-add data activity in renewal season is minimized and underwriters can focus on new risks, coverages, premiums, and exposure.

  • Increase premium and policy retention rates by fully automating renewals
  • Ensure premium and coverages correctly represent the latest risk profile and business classification
  • Understand changes in risk exposure at policy and portfolio levels

Positive Selection

For marketing purposes, carriers can finally create a list of prospect clients based on predefined risk criteria. Insurance marketing executives can target select underwriting and client profiles and Planck creates a defined list of business names and addresses to target.

  • Grow written premium while controlling for risk intake
  • Unbiased, open marketing tool that allows managing acceptable risk profiles
  • Confidently create new products and test new markets and classes

Premium and Policy Auditing

Planck’s platform automates and facilitates auditing premiums and policies, helping determine actual exposures based on the latest data. Our comprehensive, real-time data capture and mining capability allows policies and clients to be correctly classified using the latest information available.

  • Apply the proper classification and corresponding rates
  • Improve calculation of premium and premium taxes
  • Enhance customer relationship and focus on facts if disputes arise

Exposure Management

For Carriers

Proactively understand changes in your risk exposure, both at policy and portfolio level, by letting Planck’s platform automatically search, find, and interpret key risk and underwriting insights

  • Actively manage and decrease loss reserves
  • Make proactive, informed decisions about which risk, industry, classes to write
  • Monitor and react quickly to changes in exposure

For Re-Insurers

By utilizing only client names and addresses in premium & loss bordereaux, even if sometimes limited and incomplete, Planck AI enhances data reinsurers receive from their primary carrier partners and enables them to perform portfolio risk analytics and make informed decisions

  • Eliminate costly and time-consuming manual work to understand reinsured portfolio risk
  • Reduce the time to verify & ensure ceding companies adhere to underwriting guidelines
  • Develop new products and grow into new classes

Data Cleansing

Portfolio Data Enrichment

Carriers can leverage Planck’s AI to improve the quality and completeness of their historical policy and claims data. Planck leverages any piece of available data in existing data warehouses, databases, data lakes, etc. to provide accurate and up-to-date views to a client, policy, or claims record.

  • Reduce your loss reserves by improving the data feeding the models
  • Enhance management information for in-force policies in real-time
  • Proactive manage production mix and reduce overall combined ratios

New Data Insights

Explore, test, and use new data and insights by leveraging Planck’s ability to find, capture, and interpret new information about your clients’ risk profiles. Planck intelligently mines the open web and publicly available records in real-time to deliver the most impactful and innovative insurance insights.

  • Apply improved models on your entire book
  • Reduce your loss reserves
  • Turn data innovation efforts into tangible value added

Focus on The Truth - Work with accurate insights

Focus on The Truth

Work with accurate insights

The Traditional Way

Agents portal

Dozens of questions

Consumer portal

Dozens of questions

Underwriting processing

Manual validation

Renewals

Manual

Data enrichment

Best effort

WITH PLANCK

Two questions

Two questions

Automated insights

Automated

Automated

What’s new at Planck

Find The Right Solution

Learn more about Planck and how our solutions can help your business.

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