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Evolution Risk Partners Boosts Risk Projection Capabilities With Gradient AI
Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions in the insurance industry, today announced that Evolution Risk Partners has successfully adopted Gradient AI’s SAILTM underwriting solution to drive more accurate and informed decision-making for its customers in the self-funded space. SAIL enables Evolution Risk Partners to refine risk assessment, leading to more precise pricing and improved financial results.
Evolution Risk Partners, a Managing General Underwriter, partners with employers and brokers to provide customizable and innovative medical stop-loss solutions for self-funded medical programs.
Driven by advanced machine learning algorithms and a rich dataset encompassing medical, prescription, and lab data, Gradient AI’s SAIL provides deeper insights into risk. This allows Evolution Risk Partners to address the complex challenges of clients, particularly those that are fully insured or undergoing mergers and acquisitions, where data is often limited.
‘We sought a tool capable of greatly enhancing our risk assessment efforts, especially in areas with limited or no detailed group-specific data,” said Director of Alternative Risk Jennifer Taylor. “SAIL has not only helped us to make quicker, better-informed decisions on risk, but provided us with the detail of what is driving that risk. With other models, that critical information was missing.”
Access to more data and a deeper understanding of risk fueled profitable growth for Evolution Risk Partners, enabling the company to confidently quote on a larger portion of brokers’ business. “SAIL allows us to expedite underwriting decisions and provide guidance on the most challenging cases, which makes us more valuable to our brokers,” said George Lemmon, founder and CEO. “We are able to partner on a much bigger piece of their world and provide a stronger, more consultative approach to our brokers and our customers, which is priceless.”
“We’re excited to be working with Evolution Risk Partners and support its efforts to enhance risk assessment and underwriting in the alternative risk space,” said Stan Smith, founder and CEO of Gradient AI. “By leveraging Gradient AI’s advanced capabilities, Evolution Risk Partners now has the tools necessary to enhance its risk assessment and underwriting process. This allows the company to make more informed, data-driven decisions and support its continued growth and success.”
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