INSURETECH SOLUTIONS LLC
Product Development
Consulting
What we offer
We are an early stage startup with a group of passionate developers trying to build a suite of products to address the deficiencies in the insurance industry.
This is a mobile/web based self service product using the tech stack based on artificial intelligence neural net architecture. The systems are designed to handle big data and predicted outcomes are fine tuned based on machine learning algorithms.
- Implementation Consulting
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We provide cost effective and advanced technology solution for the
small and medium scale insurance firms. We work closely with our customers and third
party vendors to come up with custom solution to bridge the product communication
and functions. This includes but not limited to interface development, data assessment,
consolidation, migration, conversion and validation.
We provide consulting for P&C insurance companies with steps to modernize the product suites and upgrade them to keep it relevent with the modern technology trend.
- Product development
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We are currently developing two products based on artifical intelligence and machine learning neural network perceptron.
INSURIGHT Predictive analytics - This helps underwriters predict the cost of premiums and exposure models based on key industry specific attribute and custom drivers.
INSURIGHT Loss Management - This helps with better claims user experience, automated loss handling,reserve estimation, and fraud detection.
The systems are built with configurable options for customer specific installations.
We are an early stage startup attempting to bring more transparency, intelligence and automation in the insurance industry. There are several insurers that have not embraced modern technology as a result they are struggling to see market dynamics and loss forecasting for the exposures. The lack of automated processes in loss handling is further increasing the cost of operating the lines. They are either over collecting premiums or under pricing it. This causes them to dip into the investment pool some years or remain flush in some years with good profits. If done right I think we can come up with better pricing model and reserve allocation. Given that insurance is largely data driven the time is right for a good solution using the technology innovation around artificial intelligence and adaptive learning for this industry. With these current technologies in place we can open up this market space for larger competition and reduce price for the customer.
Guru Radhakrishnan
CEO & Founder
I have been in the industry developing and implementing insurance products for around 18 years in various roles and capacities as developer, consultant, product trainer, speaker and leader in the business working with various clients in the P&C market space.