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IntellectAI & Confianza Inc., to streamline risk for P&C insurers

By Gloria Mathias

January 20, 2025

  • Confianza
  • Fintech news
  • FinTech solutions
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Confianza, Fintech news, Fintech Solutions, IntellectAI, InsurTech News, IntellectAI, the InsurTech business unit of Intellect Design Arena that offers AI and data-powered underwriting solutions, and Confianza, an InsurTech company that fast-tracks targeted risk selection for P&C insurers, have announced a partnership to transform the submission and quoting process.

With this partnership, Confianza’s predictions and risk scores enhance the underwriting process within IntellectAI’s digital underwriting platform, allowing carriers and MGAs to assess and segment risk earlier and faster than ever.

Confianza’s unique value proposition in the market provides detailed insight into the business and its operations while profiling the business principal and consumer. This provides underwriters with more holistic insights to make better-informed decisions about the actual business risk.

IntellectAI’s end-to-end, AI-powered underwriting ecosystem assists underwriters in risk assessment and decision-making across commercial, specialty, and E&S lines. This includes risk clearance, onboarding, and triage. Data and resultant predictive scores like Confianza’s can be directly integrated into risk-processing workflows. As a result, underwriters can make faster and better-informed decisions from submission to quote, improve speed to market, and enhance the broker and client experience.

Banesh Prabhu, CEO of IntellectAI, stated, “We are committed to reshaping underwriting processes within the insurance sector. Our collaboration with Confianza and incorporation of their targeted risk selection and loss prediction analytics into our ecosystem is a significant step toward realising this objective.”

Prabhu continued, “This partnership empowers insurers with a robust toolset to comprehend and oversee the risks associated with businesses and consumers, enabling them to elevate their decision-making capabilities and strengthen their competitive standing in the market.”

“We are incredibly excited to partner with IntellectAI in support of their mission to “digitise” risk by integrating data points and analytical predictions into their intake process, which will ultimately help their clients automate underwriter review and prioritise submissions that are within their risk appetite,” said John Petricelli, Chief Data Officer at Confianza Inc. “We believe this partnership is another formidable movement toward helping insurers achieve profitability and growth by strategically using technology to better segment and categorise risk in the small commercial and personal lines underwriting space.”

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