Sayata Unveils AI-Powered Risk Engine That Flags High-Risk Accounts
Sayata launched Sayata Risk Engine, an AI-powered platform that uses sophisticated AI to flag specific high-risk accounts that may be driving up loss ratios.
Sayata Risk Engine’s SmartExtrapolation technology uses Sayata’s proprietary AI to draw intelligent conclusions when traditional data sources fail. The Risk Engine uses a proprietary methodology that helps separate data signals from noise. Sayata’s data experts continually review data providers, regularly testing and selecting reliable data sources. Operators who adapt their portfolios based on Sayata Risk Engine results can achieve a 10 point reduction in loss ratios.
“Our team of experts in AI, data, actuarial science and insurance underwriting have worked tirelessly to develop the Sayata Risk Engine with a single goal: to provide insurers with a strategic advantage,” said Asaf Lifshitz, CEO of Sayata, based in Boston. “We provide a safety net that allows our partners to broaden their risk appetite while improving their overall profitability. »
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Canopy Connect and Hawksoft Launch Integration to Eliminate Data Entry
Canopy Connect and HawkSoft have launched a new integration that allows insurance agents to collect verified insurance data through Canopy Connect and import it into HawkSoft to eliminate data entry.
Canopy Connect is an insurance data collection platform based in San Francisco, while HawkSoft, headquartered in Canby, Oregon, is a management system for independent insurance agencies.
With the new integration, HawkSoft agencies can use Canopy Connect to allow customers to securely share their insurance information. Customers log in with their current carrier credentials via a secure link. Canopy Connect’s data capture platform will retrieve information on policies, drivers, claims and more, and easily export that data for use in HawkSoft.
“Getting accurate insurance information is a challenge that Canopy Connect has been solving for years,” said Rushang Shah, director of marketing at HawkSoft. “Bringing that data into the system an agent lives in during their workday, without data entry, is what this new integration between Canopy Connect and HawkSoft accomplishes.
“We partnered with HawkSoft with the shared goal of helping agencies grow and removing friction in agent and customer experiences,” said Tolga Tezel, founder and CEO of Canopy Connect.
Canopy Connect joined HawkSoft’s Solution Partner program in 2023.
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