NeuralMetrics – Insurtech Innovation Award 2023

1. v.9.21
© NeuralMetrics
September 15, 2023
Company and
Product Overview
Enabling actionable risk-assessment
intelligence for P&C insurers, MGAs,
brokers, and agents.
www.neuralmetrics.ai

2. v.9.21
Challenges We Solve
Accurately classifying a business is
fundamental and difficult
› Industry codes (NAICS or SIC) are
often either missing or inaccurate
in commercial submissions
Understanding the key quality
differences between businesses in
a class is essential
› Underwriters and producers need to
answer dozens of risk questions to
help qualify a risk for eligibility and
price it appropriately
Prequalifying the best, in-appetite
risks in every market is tough
› Carriers must be able to identify
best-in-class businesses tailored to
their appetite and proactively grow
their book of business
Classification Risk Insights Insured Lead Generation
Compliance
Lack of AI and data governance can lead to fines, loss of market share, and reputational damage
Carriers must be able to answer questions about their AI decisions, explain outcomes,
and ensure AI models stay accurate and compliant over time

3. v.9.21
NeuralMetrics Snapshot
› Engagements with four of the top ten U.S.
commercial lines insurers
› Processed 1.5M risk intelligence data requests
› Delivering 50K+/month risk intelligence data
requests for clients
› 60 team members
› 120+ years of combined experience in the
leadership team
› Presence in India, Middle East, Europe, and
North America for 24/7 support
› State-of-the art API-driven, cloud-first risk
intelligence delivery platform
› Listed on Google Marketplace
› Robust partnership ecosystem: Duck Creek,
InsuranceGIG, Ivans, BrokerTech Ventures
Accelerator Program, and more

4. v.9.21
NeuralMetrics Products
› Delivers highly
accurate business
classification in
seconds with just a
business name and
address/or email/
or website
› Automatically discovers
and answers critical
risk-evaluation
questions for diverse
businesses and
industries
› Enables carriers and
brokers to survey entire
target markets to
identify in-appetite
accounts and
prequalify leads
NeuralMetrics
CLASSIFICATION
NeuralMetrics
RISK INTELLIGENCE
NeuralMetrics
MARKET DATA
NeuralMetrics derives actionable intelligence from small data by leveraging artificial intelligence, natural language processing, vectors,
computational graphs, and other state-of-the-art technology — to generate the necessary data relationships.

5. v.9.21
What We Do
Input
Structured and
unstructured data from dynamic
public sources
Custom-developed web scraping
Graph data approach to
store structured data and
build relationships
Triangulation
AI & NLP to extract
information
Custom risk
intelligence and
industry classification
algorithms
Insured profiles based
on name and address
inputs
Output
Answers to industry-specific risk questions
Insights into insured's current or past policy
information, operations, revenue, licenses, permits,
and more
Classification (NAICS, SIC and line of business
codes, including WC, ISO GL, and more)
Links to all data sources for
transparency and compliance
Confidence scores
Dashboard
view
Downloadable
results
API for
smart integration
Delivery Mechanisms

6. v.9.21
How We Do It
Users search for a business
using a name and
address/or website/or email
AI-powered NeuralMetrics | Classification engine leverages real-time, fresh data
from dynamic, public sources of information to deliver highly accurate classification
(NAICS, SIC and line of business codes, including WC, ISO GL, and more)
The highly flexible NeuralMetrics | Risk Intelligence engine answers underwriting questions in
seconds with a confidence score and links to the source data, enabling full transparency for
regulatory compliance. Questions can be tailored to meet individual carrier requirements.
Confidence Score
Source Links
10-15 seconds

7. v.9.21
Functional Applications
 Enrich sales funnels to
optimize binding and drive
profitability
 Generate and prequalify leads
that convert and identify
profitable insureds
› Identify exposure
changes in the insured's
business operations and
circumstances during policy
period
 Validate business operations
at a specific property with
just an address
 Ensure risk-appetite fit
Business Acquisition Exposure Monitoring
Lessors' Risk Assessment
 Ensure there are no significant
changes in insureds' risk
profile before renewal
 Minimize premium leakage
 Identify in-appetite
accounts and enable
efficient due diligence of
books of business
 Leverage the bulk upload
feature
 Support premium audit and
portfolio integrity
 Identify business conditions for
premium audit work
selection
Renewal Support Book Roll Analytics
Premium Audit

8. v.9.21
NeuralMetrics | Classification Engine
Challenge: Misclassified policyholders can make up to 20 percent of commercial books,
resulting in underpriced policies, inaccurate actuarial models, and lost business at renewals.
24 NAICS code
business segments
covered, with more
in development
Transparency on all
data sources used
for deriving the
classification
Classification
mapped with risk
appetite to check
for products
available to quote
Instant access to
insights; can also be
integrated into existing
underwriting systems
Accurate business
classification with
only a
policyholder’s name
and address/or
email/or website
Proprietary
prediction
models to get
class codes right
to the last digit
NAICS, SIC and
line of business
codes, including
WC, ISO GL, and
more
82% accuracy for
2-digit NAICS
classification
Our Solution

9. v.9.21
NeuralMetrics | Risk Intelligence Engine
Challenge: Underwriting information gap; effort-intensive, manual data collection and validation process;
inaccurate agent submissions; rapidly evolving policyholder expectations
100% transparency
on all data sources used
for answering risk
questions
Improves
account-level
underwriting
Automates
underwriting
decisions and
increases quote
accuracy
Reduces time to
bind
Answers
underwriting
questions with
confidence scores
80% accuracy for
answers to risk
questions
450 out-of-the-box
risk insights
supported by 700+
models
Delivers
personalized risk
assessment
questions
Our Solution

10. v.9.21
Case study: Fortune 100 P&C insurer streamlines agent submissions
for more than 70% of small commercial accounts
Inaccuracies in agent submissions
impacted the overall accuracy of
quotes
Agents didn’t answer all questions or
used default answers, leading to
lower quote conversion rate
Underwriters spent hours
validating the information manually
After evaluating various data providers, the insurer selected NeuralMetrics Classification Engine
and Risk Intelligence Engine, because of 90% coverage and accuracy standards. The solutions
were integrated into the carrier’s quoting tools.
› NeuralMetrics Classification Engine and Risk Intelligence Engine use NLP and machine
learning to extract actionable information from hard-to-access, unstructured public data.
› Agents enter client information just once for prospective small commercial clients with a strong
web presence.
› The solution pre-fills the industry classification and risk questions to evaluate exposures.
With the solution APIs, agents can auto-fill supplemental questions in real time, and the
underwriters get a second opinion on the submitted data in their policy system.
Our Solution
Faster turnaround time—from
days/hours to minutes
Proven Results
Improved quote accuracy
Challenges

11. v.9.21
Why NeuralMetrics
› Workflow simplification
‒ Streamline underwriting
workflows and other critical
business processes to enhance
productivity and improve
employee experience
› Digital innovation
‒ Build a digital-first and data-
enabled risk-assessment
ecosystem to drive productivity
with stakeholders across the
insurance value chain
› Focus on the policyholder
‒ Offer exemplary and consultative
customer service via better
access to deep risk information,
to help identify and mitigate
potential exposures
› Transform the agent and
broker experience
‒ Ensure ease of interaction to
grow book of business and build
stronger relationships with
distribution partners

12. v.9.21
Thank You
Connect with us:
info@neuralmetrics.ai
Learn more:
www.neuralmetrics.ai