Bringing The Power of AI to Insurance

We create tools that incorporate the power of machine learning into your existing pricing process.

The Technology
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The Technology

In this case study, we worked with an MGA that writes non-standard auto insurance. We fed our AI system a set of actual insurance policy and claims data, then asked it to 'score' every submission the MGA receives, live and in real-time, returning responses on each policy in under one second each. This algorithm has been running live for over two years now and has scored over 10,000 policies in that time. Each policy's score represents our system's estimate of the expected profitability that policy would achieve, on a policy-by-policy basis. We then sorted those policies top-to-bottom based solely on the assigned score and split those policies into ten equal-sized buckets, best scores to worst. We then calculated the actual, eventual loss ratio for each bucket. The graph below displays the result -- the Soteris scoring system demonstrates a clear ability to predict which policies are likely to lead claims, and which ones are not.

Our software has raised this customer's policy profitability **over 250%**.

« Best Scores
Worst Scores »
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The Power of AI
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The Power of AI in Insurance

Over time, we plan to revolutionize insurance across the value-chain.

  • Our tools rank incoming submissions so your underwriters can focus on the best ones.
  • Our tools deliver modernized pricing using state of the art machine-learning techniques.
  • We plan to develop solutions to detect fraud/slippage within claims.
  • Our systems will allow your business to streamline its claims processing.
Our Investors
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Our Investors

  • YCombinator
    Early In: AirBnb, Dropbox, Stripe
  • Amplify
    Early In: DataDog
  • Khosla
    Early In: Square, Lookout
  • Foundation
    Early In: Netflix, LendingClub
  • Data Collective
    Data Collective
    Early In: Square, Elastic, PlanetLabs
  • WIN
    Early In: Applovin, Okta, Pagerduty
  • Clocktower
    Early In: Chime, Tala, Steady

  • Mohak Shroff
    Senior VP of Engineering, LinkedIn
  • Sam Hodges
    Co-founder & CEO, Vouch Insurance
  • Thomas Rutherfoord
    Chairman, Core Assurance Partners
  • Jeremy King
    Senior VP of Technology, Pinterest
  • Wes McKinney
    Creator of Pandas
  • D. Scott Phoenix
    Co-founder & CEO, Vicarious
  • Scott McNealy
    Co-founder & CEO, Sun Microsystems
  • Paul Buchheit
    Creator of Gmail
  • Roger Egan, Sr.
    Former President, Marsh & McLennan Companies
  • Beth Axelrod
    Global Head of Employee Experience, AirBnb
  • James Barrese
    Former CTO, Paypal
  • Frederic Kerrest
    Co-founder & Chief Operating Officer, Okta
Want to Connect?
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Want to connect?

Whether you are interested in seeing a demo of our technology, partnering for a proof-of-concept, or just learning more about Soteris, we would love to talk.