Best Insurance launches AI underwriting solution

Targets accident, sickness and unemployment market

Jaskeet Briah
clock • 2 min read

Insurance provider, Best Insurance, has launched an underwriting solution for the accident, sickness and unemployment (ASU) market, based on artificial intelligence (AI) and behavioural technology.

This is a quote-and-buy platform called Incomeadora, supported by Collinson Insurance. The solution combines real-time data from global data providers and claims data providers, cancellation patterns and Best Insurance's in-house data to predict the likelihood of anti-selection (i.e. the propensity of claim), alongside Large Language Models (LLMs). Best Insurance told COVER that the aim of the product is to create a more accurate picture of predicting which customers will make a claim and which won't, enabling the platform to rate premiums based on the "real risk of the customer rather t...

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