Sixfold partners with Sollers on AI underwriting offering

Artificial intelligence (AI) underwriting insurtech Sixfold has partnered with insurance technology consultancy Sollers to distribute its automated risk assessment technology to insurers.

Sixfold said its technology allows insurers to “automate submission intake, assess risk against their own appetite and get transparent, explainable underwriting recommendations”.

It added that, following the newly announced partnership, firms would be able to access an “AI, consulting and technology implementation” within a “single transformation programme”.

Roger Ferrandis, head of partnerships at Sixfold, said that “insurers should not have to replace the systems their underwriters already use to get value from AI”.

“Sixfold works within those systems and comes with underwriting knowledge built in from day one. Sollers know how those systems are setup and used. Together, that gets insurers to better underwriting results faster,” he continued.

Faster submissions

The technology firm – that said it has processed more than 1.5 million submissions across 50 lines of business for insurance firms including Zurich, Axis and Generali – claims its processes can result in up to 30% higher gross written premium (GWP) per underwriter.

Jakub Śliwiński, head of underwriting at Sollers, added: “We’ve built Sollers’ underwriting practice around the belief that the right technology, applied to the right part of the process, delivers outstanding results.

“Sixfold makes submission handling faster, more consistent and more intelligent. Together, we can help insurers achieve measurable results quickly while laying the foundations for underwriting transformation.”