MarketEdge Technology Enables Insurers to Quickly Find Suitable Policyholders and develop business books
NEW YORK, September 20, 2022 /PRNewswire/ — NeuralMetrics, a provider of fast, actionable market intelligence for insurance lead generation and underwriting, today announced the launch of MarketEdge, an AI-powered platform for researching and screening companies and US-based markets, prequalify leads and reach desirable insurance customers. Additionally, the solution assesses companies’ propensity to switch insurance providers in future renewal cycles, allowing insurers to efficiently add qualified policyholders based on company characteristics and risk factors.
Initially focusing on the US workers’ compensation market, NeuralMetrics is adding additional business lines to the MarketEdge product portfolio. MarketEdge uses artificial intelligence (AI) and natural language processing (NLP) to identify qualifying insights and viable leads so insurers can reliably identify the best prospects – especially important in the insurance policy industry. workers compensation, where finding leads takes time with low rates of conversion success.
Driven by smart technology, MarketEdge leverages information from various databases and public information sources, including OSHA, Centers for Medicare and Medicaid, Environmental Protection Agency, Paycheck Protection Beneficiaries , licenses, permits and inspections, and much more. The company regularly increases the data and adds new sources of information.
“The workers compensation market is undergoing significant changes. The implications of COVID-19, including the shift to virtual work, along with the impacts of inflation and cost-cutting measures are causing business leaders to reassess and seek out insurance coverage and services to optimal policyholders,” said Prakash Vasant, CEO, NeuralMetrics. “NeuralMetrics and its MarketEdge solution help carriers, brokers and agents capitalize on these opportunities, applying AI and complementary advanced technologies to quickly and accurately identify key targets and prospects.”
NeuralMetrics is on a mission to make commercial insurance underwriting easier and more efficient. The launch of MarketEdge is a key part of the broader NeuralMetrics platform, which includes SmartRatioMTan AI-powered solution to help insurers obtain trusted industry classifications and generate data compliant insights and risk insights to effectively underwrite commercial business.
Using SmartRatio, insurance companies and their distribution partners can quickly classify companies with just a name and address, understand associated risks, and access the specific underwriting information needed for accurate pricing and proposal generation.
Insurance organizations can visit NeuralMetrics at booth 3369 at Insurtech Connect at Las Vegas, Nevada on September 20-22, 2022for a demonstration of the MarketEdge and SmartRatio solutions.
NeuralMetrics facilitates comprehensive lead management and accurate, contextual commercial line underwriting for P&C insurers. The company’s easy-to-deploy data aggregation platform is powered by AI and natural language processing to instantly and seamlessly extract industry-compliant, actionable risk assessment insights. from dynamic public information sources. As an expert partner in the field of insurers, NeuralMetrics enables prospect research and qualification, reliable pricing classification, incisive underwriting and accurate policy pricing. For more information, visit www.neuralmetrics.ai.