Leverage the power of AI to improve risk assessment and optimize claims outcomes

Workers’ Compensation Solutions

Underwriting Key Benefits

Price more accurately

Decrease quote turnaround time

Enable straight-through processing

Claims Key Benefits

Reduce cost & duration

Do more with less work

Drive better outcomes

Workers’ Compensation provides wage replacement and/or medical care to employees who are injured or become ill or injured as a direct result of their employment.

Workers’ Compensation protects employees and employers:

Employees: helping them recover and return to work as soon as possible
Employers: helps eliminate the need for litigation and helps cover legal costs if litigation does occur

Speak with us about Workers' Comp Solutions

Business Challenges and Solutions

Workers’ Comp is a challenging market for insurers. Claims costs are rising as workers age, but the large number of Workers’ Comp providers in the market lead to severe pricing pressure. Numerous insurance carriers, MGAs, MGUs, captives and others provide a broad range of choices for employers seeking coverage, which limits profitability potential for providers in underwriting, and cost pressures when claims occur.

What if you could identify good underwriting risks that others miss, and price them to win, while avoiding bad risks or pricing them so you can maintain a healthy loss ratio? Imagine if you could do this while also dramatically reducing quote turnaround times.

And what if you knew which claims needed attention and were at the greatest risk of becoming costly, so that you could take action quickly to help contain costs and get the injured worker healthy and back to work faster?

Now you can gain these benefits for both underwriting and claims, with Gradient AI’s Solution for Workers’ Compensation.

Workers’ Compensation Underwriting Suite

Improve your risk assessment capacities through a combination of machine learning, our vast dataset, and modeling expertise.

Obtain predictive insights to identify risk with speed and accuracy never before possible, enabling you to price more accurately and better manage risk. Compete more effectively and win more business, all while improving your loss ratios.

Gain powerful assessment and audit capabilities so you can keep your rates competitive while maintaining healthy loss ratios. Audit and verify class codes, to ensure that your pricing accurately reflects risk.

Gradient AI’s Workers’ Comp Underwriting Solution enables you to:

Price policies more accurately and with deeper insights
Enable Straight Through Processing by identifying low-risk applications
Accelerate expansion into new markets with a deeper understanding of risk

Looking to get started with AI more quickly? Learn more about WriteSpeed Workers’ Comp Underwriting solution.

Workers’ Compensation Claims Suite

Claims adjusters face large and growing caseloads, and as a result, they are usually challenged with keeping up with each and every one. Claims managers are working hard to do more with less, staying on top of growing caseloads all while managing their teams at a time of staff shortages and an aging and retiring workforce.

Improve your claims operations and triage process with an “early warning” of the most potentially expensive claims to focus proactively where needed, while reducing the cost of claims.

Capture the collective institutional knowledge of seasoned team members and deploy AI models to impart this wisdom to newer, less experienced employees and provide “guide posts” to help them perform more effectively.

Gradient AI’s Workers’ Comp Claims Solution enables you to:

Identify claims risks earlier in their lifecycle, enabling proactive steps towards effective outcomes and cost containment
Reduce duration of outstanding claims to better contain costs
Identify high-risk claims that require the attention of more seasoned adjusters to manage the claim to a better outcome and enable injured workers to recover and return to work faster

“A key reason we chose Gradient AI is due to the insight we receive from the solution’s vast dataset, allowing us to make more informed and nuanced decisions as it relates to evaluating the risk and pricing of new business. The additional insight that Gradient AI provides allows our underwriters to offer the right pricing and recommendations to our agents, enabling us to grow our business profitably.”

– Mike Richardson, Vice President of Underwriting, AmFed

“Gradient AI is a power tool for our underwriters. Our experienced underwriters’ judgement coupled with Gradient AI’s risk assessment capabilities is a winning combination, enabling us to quote policies significantly more correlated with their unique risk. The ability to blend our data with Gradient AI’s federated data has also been a key performance-enhancing factor especially as we enter new markets. It has helped us drive nationwide expansion, better meet customers’ needs and serve a broader range of industries.”

– Jacob Clymer, Chief Operating Officer, Service Lloyds

“We are realizing tremendous value from integrating our AI claims models into the Gradient AI solution. As a TPA, a key goal is to support and deliver exceptional value to our clients. By investing in innovative technology, we’ve been able to improve the claims journey for our customers. And our clients are thrilled with the results because of the increased capacity to triage incoming claims, decrease processing times and reduce the costs of claims.”

– Skip Brechtel, Executive Vice President and CIO, CCMSI