Intelligent AI launches platform to tackle commercial property underinsurance
The platform uses multiple verified data sources to provide commercial property owners with more accurate reinstatement values to cover their buildings adequately. This ensures that insurers pay out fully in the event of a loss and reduces insurers’ and brokers’ exposures by enabling correct premiums through faster and cost-effective real-time rebuild cost data.
The platform also fully automates the entire process for many properties, greatly improving the cost and accuracy of results. This enables 100% of commercial properties to have an accurate yearly valuation.
The Intelligent Rebuild Cost Validation Platform is designed to work with Intelligent AI’s existing cloud-based Intelligent Risk Underwriting Platform. This platform aggregates over 300 data points, including AI document analysis, open data, satellite image analysis, property characteristics data, and real-time weather and flood risks. This gives insurers greater clarity across 100% of their portfolios, enabling them to identify, measure, predict, and mitigate various property perils in real-time.
“Our Intelligent Rebuild Cost Validation Platform is a game-changer for the property insurance market,” said Anthony Peake, founder and CEO of Intelligent AI. “It has the potential to significantly reduce the level of underinsurance, which is a major problem for property owners and the market as a whole.”
The platform is also a valuable tool for insurers and brokers, as it can help them to price premiums and manage their risks more accurately.
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