Flow announces first AI insurance broker

Flow Specialty, “the next-gen specialty brokerage for commercial insurance,” is announcing “the industry’s first AI insurance broker.”

Flow claims that its AI model has passed RPLU certification exams for the cyber, errors & omissions, and executive liability modules. The startup, which is backed by Munich Re and raised ~$20 million, says that it is building an ecosystem of AI agents who operate like “the world’s best assistants.”

Based on the GPT 4.0 Omni core, Flow claims that its AI agents can handle risk appetite matching, generate quote comparisons, and construct review materials. The startup also claims that the AI agents can understand tradeoffs and considerations.

“For far too long, the middle market segment of specialty business has been underserved for retail brokers. I have been in this industry for more than two decades and have observed an underperformance around the quality of service, attention to details, and ability to serve the client in a manner they deserve. The stumbling blocks for wholesalers have been thin margins, bandwidth issues, and inconsistency of expertise across teams. We have solved these problems by using AI to dramatically scale our human brokers abilities far beyond what has been previously possible.” – David Derigiotis, President of Brokerage and Head of Insurance.

“In an industry that runs on trust and relationships, like the commercial insurance space, scale is a real issue. How do you enable brokers to take on more workload without burning the bridges of trust? The key is to enable wholesale brokers with ultimate availability, every single time. And in order for our brokers to provide this level of service, we’re training our AI to operate as the world’s best assistant.” – Flow Specialty CEO and Founder, Sivan Iram.