The Builders Group Leverages Gradient AI to Streamline Claims and Underwriting for Workers’ Compensation Insurance

Delivers Enhanced Claims Management and More Accurate Underwriting

Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions in the insurance industry, announced that The Builders Group (TBG) is using its solutions to streamline claims and to better evaluate the risks associated with underwriting workers’ compensation insurance.

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“We selected Gradient AI because of its vast industry dataset containing tens of millions of claims and policies, excellent customer service and extensive experience in AI and insurance”

TBG provides workers’ compensation policies for contractors, builders, remodelers, subcontractors and suppliers. Self-insured and member-owned, TBG’s workers’ compensation fund has about 700 member companies. The company’s goal is to offer affordable, high-quality workers’ comp that prioritizes medical care while delivering speed and accuracy of claims settlements by leveraging the latest technologies.

To enhance support for its claims and underwriting operations, TBG chose Gradient AI to reduce the cost of claims and improve TBG’s underwriting risk assessment. The solution’s AI models learn from both TBG’s data and Gradient AI’s industry data lake containing tens of millions of claims and underwriting records. On the claims side, Gradient AI enables adjusters to conduct earlier claim assessments, evaluate risk KPIs, and drive better outcomes. On the underwriting side, Gradient AI helps TBG assess risk more accurately for workers’ compensation policies.

Gradient AI also integrates with Origami Risk insurance platform, a cloud-based, end-to-end claims management solution for consolidating claims data and streamlining workflow processes which TBG is in the process of implementing. Gradient AI’s integration with Origami will allow TBG to work more efficiently by seeing key decision metrics such as loss predictions and risk rankings right at the point of decision.

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“We selected Gradient AI because of its vast industry dataset containing tens of millions of claims and policies, excellent customer service and extensive experience in AI and insurance,” said Stu Thompson, CEO of TBG. “As a result, our underwriters and claims adjusters can perform their jobs more proficiently. And because Gradient AI’s solutions seamlessly integrate with the Origami Risk insurance platform, our users will be able to obtain key decision metrics within the same platform that they are using to quote policies and manage claims.”

Like other insurers, TBG faces a generation of experienced underwriters and adjusters who will soon retire. To fill the potential talent gap, TBG is using Gradient AI’s solution to capture and retain the expertise of seasoned talent with decades of industry experience to help new employees become productive more quickly.

“The Builders Group, known for its technology innovation, is using AI to better predict risk and improve efficiencies for both workers’ compensation underwriting and claims,” said Stan Smith, founder & CEO, Gradient AI. “With Gradient AI, TBG can leverage our industry data lake and their own data to gain deeper insight into claims and underwriting risks. We are thrilled to be working with TBG to help it manage claims more efficiently, speed quote turnaround times, and most importantly, deliver better outcomes and experiences for its members and their employees.”

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