BTIS Adopts Gradient AI to Improve Risk Assessment in Workers’ Compensation Policies
AI-Driven Underwriting Solution Enables BTIS to Assess Risk More Accurately and Accelerate Quote Turnaround Time
BOSTON–(BUSINESS WIRE)–#AIinInsurance—Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions in the insurance industry, today announced Builders & Tradesmen’s Insurance Services, Inc. (BTIS), has adopted its underwriting solution to better predict risk and improve the pricing accuracy of workers’ compensation policies.
BTIS, a Managing General Underwriter (MGU), is a nationwide insurance intermediary focused on serving small businesses with a wide range of commercial insurance lines. The company is dedicated to building strong partner relationships through outstanding service and innovative insurance solutions. BTIS has experienced significant growth over the past 25 years. To sustain and build on this momentum, the company wanted to enhance its underwriting process to write more profitable policies while efficiently scaling its workers’ compensation business.
BTIS selected Gradient AI’s underwriting solution to evaluate risks with greater precision and speed, enabling the company to capture more business and reduce loss ratios. Gradient AI’s risk scoring and underwriting model helps BTIS assess risk more quickly and guide pricing decisions. This allows BTIS to create highly customized and cost-effective workers’ comp policies for its carrier customers, and deliver quotes faster than before.
“After seeing the success of Gradient AI with one of our carrier partners, we decided to integrate it with another carrier and into our proprietary workers’ compensation underwriting platform,” said Paul Hohlbein, president of BTIS. “We evaluated several options and chose Gradient AI because of its leadership in the field. Leveraging AI is key to enhancing the underwriting process for our customers and carrier partners. We are committed to delivering a world-class experience through our workers’ compensation marketplace, and Gradient AI is a crucial part of our strategy.”
Stan Smith, CEO of Gradient AI, added, “We are excited to partner with BTIS in its efforts to improve underwriting accuracy and efficiency. Our AI-driven underwriting solutions are designed to help MGAs like BTIS and other insurers achieve better outcomes by leveraging large, industry specific datasets and advanced machine learning models. We look forward to supporting BTIS as they continue to expand their work comp book of business aggressively and profitably.”
In the future, BTIS plans to leverage Gradient AI’s underwriting solution with additional carriers as its business further expands.
Gradient AI is a leading provider of proven artificial intelligence (AI) solutions for the insurance industry. Its solutions improve loss ratios and profitability by predicting underwriting and claim risks with greater accuracy, as well as reducing quote turnaround times and claim expenses through intelligent automation. Unlike other solutions that use a limited claims and underwriting dataset, Gradient AI’s software-as-a-service (SaaS) platform leverages a vast industry data lake comprising tens of millions of policies and claims. It also incorporates numerous other features including economic, health, geographic, and demographic information. Customers include some of the most recognized insurance carriers, MGAs, MGUs, TPAs, risk pools, PEOs, and large self-insured employers across all major lines of insurance. By using Gradient AI’s solutions, insurers of all types achieve a better return on risk. To learn more about Gradient AI, please visit: https://www.gradientai.com or follow on LinkedIn or X.
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