MPL Success is Determined by the Decisions Insurers Make for both Underwriting and Claims:

• What is the risk of this practice?
  
• What patterns lead to poor outcomes?
• Can we price this profitably?
• Should we settle this claim?
• At what price should we settle?
  

Introducing Gradient AI for Medical Professional Liability

Gradient AI provides innovative, industry-leading AI solutions to address insurers' key questions and needs for MPL Underwriting and Claims Management.

Gradient AI's Solutions for MPL Underwriting:

How attractive is this policy?

Risk Assessment

Risk Ranking: Likelihood of claims on a policy

Loss Ratio Targeting: Relative risk score of an application

How should we price this policy?

Quoting and Issuing

Loss Projection: Predicted losses associated with a policy

Premium Targeting: Recommended premiums

How has the risk changed?

Servicing

Risk Ranking: Likelihood of claims on a policy

Loss Ratio Targeting: Relative risk score of an application

Loss Projection: Predicted losses associated with a policy

Premium Targeting: Recommended premiums

Gradient AI's Solutions for MPL Claims Management:

How bad is this claim likely to be?

Notification

Risk Ranking: Initial likelihood a claim will exceed a predetermined high-cost threshold

How can we best keep track of changes to the claim file?

Evaluation and Investigation

Claim Development: Likelihood a claim will exceed a predetermined high-cost threshold as the claim file is updated

Can we avoid or mitigate litigation?

Legal Risk

Attorney Involvement: Likelihood a claimant will hire an attorney

Litigation Probability: Likelihood a claim will be litigated

Are we closing claims as efficiently as possible?

Settlement

Claim-Level Reserving: Total ultimate incurred of each claim

We invite you to learn more about Gradient AI's solutions for MPL.

Book a 30-minute discovery call to get the conversation started.