Roundstone Insurance Selects Gradient AI’s SAIL Solution to More Effectively Assess Risk and Enhance Underwriting Process

AI-powered SAIL Helps Roundstone Offer Competitive Healthcare Plans to SMBs

Gradient AI, a leading enterprise artificial intelligence (AI) software provider for the insurance industry, announced that Roundstone Insurance, a health insurance captive for small- to medium-sized employers, has selected its SAIL Solution to help companies better assess risk and afford high-quality healthcare plans.

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“We are thrilled that SAIL is proving to be an effective tool for Roundstone at both an employer and employee level. We look forward to continuing this relationship and supporting Roundstone’s mission to provide affordable, quality healthcare plans to companies of all sizes.”

Roundstone is a rapidly growing health benefits captive that specializes in offering cost-effective employee health insurance to small and mid-sized businesses. With its self-funded group captive solution, member organizations save on average 20 percent annually. Health insurance captives such as Roundstone Insurance have become increasingly popular in recent years by providing smaller companies with the same insurance purchasing power as larger enterprises. Through self-funded captive insurance models, these companies can receive similar coverage and rates to larger enterprises, resulting in direct cost savings for both employers and employees.

Many businesses that join Roundstone come from traditional insurance companies that do not share employers’ own claims history transparently with the employer. To meet the demands of its growing customer base, Roundstone continues to innovate and enhance its underwriting process to gain a more complete understanding of a group’s risk profile, especially when previous claims history is not available. Gradient AI’s SAIL Solution closes this informational gap for Roundstone and its advisor network.

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After evaluating several options, Roundstone selected Gradient AI’s SAIL Solution for Group Health Underwriting, due to its powerful machine learning capabilities and its ability to access vast amounts of de-identified data to comprehensively assess risk for member organizations. SAIL’s unique ability to leverage prescription, medical, and lab data at scale to inform predictions is a key reason for Roundstone’s choice. Gradient AI is the only company in the group medical insurance market that can offer this breadth and depth of data from a single source.

With SAIL’s data analytics and AI features, Roundstone is now able to visualize and assess specific group risks and drivers with finer granularity. This knowledge helps Roundstone’s underwriters to sharpen their insights when quoting new business. “Gradient AI enables us to get an objective snapshot projection of claims within minutes of submission,” said Bruce Dunham, underwriting manager at Roundstone. “More importantly, we get the critical information we need without conducting time-consuming personal health questionnaires, which can be tedious, error-prone, and viewed by employees as intrusive.”

Stan Smith, founder and CEO of Gradient AI commented, “We are thrilled that SAIL is proving to be an effective tool for Roundstone at both an employer and employee level. We look forward to continuing this relationship and supporting Roundstone’s mission to provide affordable, quality healthcare plans to companies of all sizes.”

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