Corvus Insurance, a cyber underwriter powered by an AI-driven cyber risk platform, announced new AI and natural language processing driven features to increase the degree of automation of routine manual tasks in the underwriter’s workflow within Corvus Risk Navigator.

These features aim to further reduce the workload on Corvus underwriters, increasing quoting efficiency and speed while delivering a loss ratio below 40 percent.

The Corvus Risk Navigator platform, built from the ground up through collaboration between Corvus’ underwriting and security teams, places real-time suggestions into the underwriting workflow based on a matrix of data including firmographics, threat intelligence, claims, and peer benchmarking. New features, including those built with large language models and natural language processing, aim to accelerate underwriters’ decision-making by automating routine tasks.

Specific workflow efficiencies added to the platform include automated industry verification, a new capability enabled by a large language model to replace manual research and validation of industry classification that is typically performed by underwriters. Automated application intake has been added as well, in which information is ingested from a variety of insurance applications received by email, including answers to security control questions, replacing manual data entry. Instant guideline validation also serves as a tool to analyze the information in an application against underwriting guidelines.

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INSUREtrust, a cyber insurance and risk management specialty broker within Starwind Specialty, announced the launch of Cyber Pre-Check, a new product that aims to simplify application and vulnerability scanning, as well as IT and insurance budget processes for policyholders.

INSUREtrust combines its own data and analytics with artificial intelligence powered by SecondSight.ai to bring this solution to its retail agency partners. Cyber Pre-Check completes a carrier-agnostic scan of a client’s environment prior to going to market, providing data that supports thorough submissions. It also creates a road map for clients’ IT security spend and assists with financial planning around increased limits.

Cyber Pre-Check utilizes a series of third-party risk modeling to confirm limit adequacy by comparing the percentage of losses insured by a client’s current limit against their peer group.

INSUREtrust, headquartered in the Atlanta metro area, is a specialty insurance brokerage for emerging risks. It is a subsidiary of Starwind Specialty Insurance, a subsidiary of CRC Group.

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In The Car, an embedded digital-first insurance enterprise was recently launched to enable car shoppers to also buy auto insurance, in one transaction, online or in the dealership.

By offering embedded insurance with the purchase of the new auto, In The Car uses information already provided for the sale and financing of the car and combines that with other information like prior insurance coverage, driving record, etc.

Auto policies written by In The Car are all backed and licensed by insurers.

Sources: Corvus Insurance, INSUREtrust, In The Car