What is Pibit.ai?

Pibit.ai is an AI-powered platform designed for the insurance industry, specifically focusing on commercial property and casualty (P&C) insurers and Managing General Agents (MGAs). It streamlines the underwriting workflow by converting complex loss run files, regardless of their format, into standardized, comprehensive reports. This process significantly improves efficiency and allows underwriting teams to make more informed and accurate decisions.

The platform utilizes advanced language models to analyze and categorize information within loss run reports, such as coverage types and accident descriptions. This enables users to gain deep insights into loss trends, claim severity, carrier loyalty, delayed claims reporting, and the impact of large losses. By identifying where and why losses occur, Pibit.ai helps organizations precisely assess risk and optimize their underwriting strategies.

Features

Loss Summaries: Provides detailed summaries of policy history to understand loss trends.
In-Depth Account Insights: Offers insights into claim severity, carrier loyalty, delayed claims, and large losses.
AI-Powered Categorization: Uses language models to categorize coverage and accident descriptions for precise risk assessment.
Trend Identification: Helps differentiate between recurring incidents and isolated events.
Multi-Format Processing: Handles various carrier loss run file formats seamlessly.