Insurtech startup NeuralMetrics is officially live
Meet NeuralMetrics :
The New York City-based startup led by Prakash Vasant is officially live and operating in the space of data and analytics for commercial lines insurers and financial services companies. Specifically, its Smart Ratio platform and Customer Knowledge portal quickly extract data in real-time from across the web to turn unstructured public data into underwriting insights that can directly validate (1) the business classification – aka know your customer (KYC), (2) flag high-risk exposures and ultimately (3) address very specific underwriting scenarios.
Counting three insurers-slash-partners, the company collaborates with commercial insurers by first understanding their book of business and risk appetite to later focus on quality web sources (keyword is ‘quality’ as NeuralMetrics only accesses vetted sources of data). The final result – true to its tagline of ‘volume in, value out’ – is a real-time underwriting and a simplified quote-to-issue processes that is relevant for ‘new business’, for ‘renewals’ and even for ‘prospecting’, as the platform highlights similar businesses by classification, distance, and size of business, as part of every search inquiry.
Bottom Line: tailor-made data solutions at scale.