Based on learned carrier strategies, underwriter best practices, historical patterns, and automated research, Planck’s Cognitive Business Analytics Platform helps underwriters make more informed decisions regarding risk assessment, binding, and pricing.
Boost submission-to-quote speed
Reduce expense ratios
Reduce loss ratios
How do Planck’s underwriting recommendations work?
When the carrier receives a submission, the Planck platform automatically processes and assesses the application: rejecting it, sending it for quoting, or highlighting discrepancies that require manual inspection or further proof of evidence from the applicant.
What will change with Planck?
Underwriters no longer need to spend time searching for pieces of information to determine if a submission meets underwriting guideline criteria. Underwriting recommendations from Planck’s Cognitive Business Analytics Platform will assess and triage large numbers of submissions, reducing manual assessments for a more workable and efficient intake process.
Frequently asked questions
Can Planck configure insights to meet my specific needs?
Planck offers hundreds of data insights off-the-shelf. These insights can be configured to match your business’s specific needs. Furthermore, Planck has high configurability capabilities, so additional and specific insights for your unique business needs can be added.
What is the completion rate for a submission form, on average?
Planck is usually able to locate or generate accurate responses for 90-95% of questions in application forms.
How does Planck ensure its data is of high quality?
Planck’s Cognitive Data Analytics Platform collects information from an incredible number of sources. Using sophisticated algorithms and models, it scans each individual piece of data to locate additional risks and generate insights to determine the most accurate answers. The algorithm continuously tests itself against validate data sets and adapts to ensure the highest accuracy levels.