In the property insurance market, the most dangerous risk is the one an underwriter doesn't know exists. Traditionally, identifying those hidden perils meant a manual “time-tax” that could stretch for days—and in the property insurance business, if you aren't fast, you aren't relevant.
We recently partnered with Roosevelt Road Specialty—a leading Managing General Underwriter of specialized insurance—to solve what's known in their business as the “SOV Problem.” Property insurers traditionally rely on a Statement of Values provided by clients. But there can be a lot missing in an SOV, such as under-declared value or rudimentary construction info. Manually verifying SOV information can be a massive time sink for underwriters.
With Neural Earth, Roosevelt Road can take a broad-brush stroke across an entire portfolio and instantly see what may need to be investigated further. The results of their collaboration with Neural Earth have redefined Roosevelt Road's operational velocity:
Shrinking Decision Windows: Underwriting reviews that once took hours or days now happen in minutes.
Surgical Precision: Roosevelt Road Specialty can now identify and exclude specific high-risk perils for a single building while confidently writing the rest of the portfolio.
Verifiable Trust: Our data gives Roosevelt Road's capital providers a precise view of what is on the books, protecting the MGU's reputation when treaty limits are tested.
“The worst way to find out you have a bad risk is through a loss.”— Brendan Cook, CUO of Property at Roosevelt Road Specialty
At Neural Earth, we're proud to help insurers find those risks before they become potential losses.