Insider Brief
- Evolution Risk Partners, a Managing General Underwriter, has adopted Gradient AI’s SAIL™ underwriting solution to enhance risk assessment for self-funded medical programs, enabling more precise pricing and improved financial outcomes.
- SAIL leverages advanced machine learning and comprehensive medical, prescription, and lab datasets to deliver deeper insights, helping Evolution Risk Partners address challenges such as limited data in fully insured or M&A scenarios, ultimately increasing underwriting accuracy and efficiency.
- The partnership with Gradient AI has allowed Evolution Risk Partners to expand its capabilities, support brokers more effectively, and fuel profitable growth by enabling data-driven, informed decision-making in the alternative risk space.
PRESS RELEASE — Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions in the insurance industry, has announced that Evolution Risk Partners has successfully adopted Gradient AI’s SAIL™ underwriting solution to drive more accurate and informed decision-making for its customers in the self-funded space. SAIL enables Evolution Risk Partners to refine risk assessment, leading to more precise pricing and improved financial results.
Evolution Risk Partners, a Managing General Underwriter, partners with employers and brokers to provide customizable and innovative medical stop-loss solutions for self-funded medical programs.
Driven by advanced machine learning algorithms and a rich dataset encompassing medical, prescription, and lab data, Gradient AI’s SAIL provides deeper insights into risk. This allows Evolution Risk Partners to address the complex challenges of clients, particularly those that are fully insured or undergoing mergers and acquisitions, where data is often limited.
“We sought a tool capable of greatly enhancing our risk assessment efforts, especially in areas with limited or no detailed group-specific data,” said Director of Alternative Risk Jennifer Taylor. “SAIL has not only helped us to make quicker, better-informed decisions on risk, but provided us with the detail of what is driving that risk. With other models, that critical information was missing.”
Access to more data and a deeper understanding of risk fueled profitable growth for Evolution Risk Partners, enabling the company to confidently quote on a larger portion of brokers’ business. “SAIL allows us to expedite underwriting decisions and provide guidance on the most challenging cases, which makes us more valuable to our brokers,” said George Lemmon, founder and CEO. “We are able to partner on a much bigger piece of their world and provide a stronger, more consultative approach to our brokers and our customers, which is priceless.”
“We’re excited to be working with Evolution Risk Partners and support its efforts to enhance risk assessment and underwriting in the alternative risk space,” said Stan Smith, founder and CEO of Gradient AI. “By leveraging Gradient AI’s advanced capabilities, Evolution Risk Partners now has the tools necessary to enhance its risk assessment and underwriting process. This allows the company to make more informed, data-driven decisions and support its continued growth and success.”
About Evolution Risk Partners
Evolution Risk Partners, a Managing General Underwriter headquartered in Evanston, IL, provides a variety of stop loss offerings, including captives, pooled risk programs, and level-funded products. They pride themselves on an efficient and seamless client experience with direct access to underwriting, relationship leaders, and claims industry experts. To learn more, visit https://www.Evolution Risk.com/ and follow Evolution Risk Partners on LinkedIn.
About Gradient AI
Gradient AI is a leading provider of proven artificial intelligence (AI) solutions for the insurance industry. Its solutions improve loss ratios and profitability by predicting underwriting and claim risks with greater accuracy, as well as reducing quote turnaround times and claim expenses through intelligent automation. Unlike other solutions that use a limited claims and underwriting dataset, Gradient AI’s software-as-a-service (SaaS) platform leverages a vast industry data lake comprising tens of millions of policies and claims. It also incorporates numerous other features including economic, health, geographic, and demographic information. Customers include some of the most recognized insurance carriers, MGAs, MGUs, TPAs, risk pools, PEOs, and large self-insured employers across all major lines of insurance. By using Gradient AI’s solutions, insurers of all types achieve a better return on risk. To learn more about Gradient AI, visit: https://www.gradientai.com or follow on LinkedIn.
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