CovrLogic wants to automate insurance coverage decisions

Judging by its website, CovrLogic is building an AI-powered coverage determination platform for property and casualty claims.

The company says its technology parses policy forms, endorsements, declarations, and state regulations to help claims professionals determine whether a loss is covered. Coverage decisions are accompanied by citations to the relevant policy language and regulatory provisions, creating an auditable record of how each conclusion was reached.

CovrLogic’s platform combines claim information, policy documents, weather data, coverage analysis, and financial details in a single workspace. As claim perils are identified, the system evaluates applicable coverages, exclusions, and conditions and generates coverage determinations.

The company also extracts and structures policy language from forms and endorsements, turning exclusions, definitions, and coverage triggers into data that can be analyzed by its reasoning engine.

According to the company, the platform is designed for carriers, MGAs, TPAs, and adjusters.

CovrLogic is currently in private beta.