Insurance businesses can work more efficiently and make better decisions with the aid of an AI-driven underwriting platform. Without it, companies risk making mistakes, missing out on profitable business prospects, and wasting time with outdated systems. Federato's RiskOps platform reduces time and effort by using intelligent technologies to help underwriters select the best insurance claims. The procedure is made simpler and more accurate by centralizing all required data and resources. Businesses in the insurance industry can save time, boost income, and keep up with market trends by doing this. Federato significantly affects the capacity of insurers to function more effectively and grow faster.

About Federato

Federato was established in 2020 to transform the $1 trillion+ property and casualty and specialty insurance market. In the face of societal risks and challenges, including the climate catastrophe, cyberattacks, and social inflation, they allow insurers to offer effective and reasonably priced coverage to underrepresented areas, individuals, and organizations through the application of cutting-edge deep reinforcement learning and artificial intelligence.

They have put up a top-tier leadership team with extensive knowledge of insurance and SaaS to help Federato implement the RiskOps revolution in underwriting. Federato has strong support from a group of venture capital investors with a combined track record of over $1 trillion in exits and managing assets exceeding $200 billion. StepStone Group led a $40 million Series C funding round, joined by investors such as Caffeinated Capital, Emergence Capital, and Pear VC.

Scalable Solutions That Deliver Results

Carriers Solutions

Federato assists carriers in expanding their book by bringing in more projects that fit their portfolio objectives. By keeping your teams informed about your whole portfolio, the Federato platform helps you monitor target progress, prevent accumulation issues, and link individual efforts to outcomes. Additionally, they lessen the time it takes to quote for the finest prospects and cut down on time lost on unwinnable risks by assisting your underwriters in concentrating their attention first on the most competitive and winnable business. In a matter of weeks, Federato's highly adaptable platform may be operational and enhancing the workflows of your underwriters, whereas custom-built underwriting systems might take years to develop and implement.

Real-time data and built-in decision support enable you to show reinsurance partners that your underwriters consistently execute their strategies as intended. Federato assists insurance companies with tackling important issues such as reaching growth targets, managing portfolio accumulation, and speeding up time to quote. The technology offers carriers decision support and real-time portfolio information, facilitating more intelligent underwriting that promotes profitable expansion.

MGA Solutions

Federato helps MGAs demonstrate to possible capital investors that they can accomplish portfolio goals and draw in more competitive offers. You may position your company for better capacity terms and show risk capital partners how successful your underwriters are using Federato's advanced reporting and portfolio guidance. With real-time status reports that enable prompt course corrections, they also include your portfolio strategy in the system to aid in directing underwriting decisions.

The Federato platform simplifies underwriters' workloads and drastically reduces IT expenses by providing a single interface to manage the whole underwriting process. Their AI-powered submission triage tools provide you with more bound quotations per underwriter by enabling your underwriters to concentrate on the proposals that most closely match your portfolio goals and that you have the best chance of winning.

MGA Aggregators Solutions

Federato's improved program visibility, enhanced member collaboration, and simplified system management enable MGA Aggregators to know what to do next. Develop a cooperative relationship with your MGA members by utilizing pre- and post-bind data, and then work together to implement your strategies. While keeping the flexibility to meet the specific requirements of each MGA, simplify the administration of several systems throughout your MGA portfolio.

Use data showcasing your MGA members' underwriting achievements to improve their capacity access and obtain real-time insights into their performance and opportunities. Make sure adverse selection is the issue of their competitors, not theirs, by focusing your member MGAs' time and attention on only the deals that have the best chance of winning.

Mutuals Solutions

Federato helps mutuals become more profitable and significantly boost the productivity of their underwriters. Your underwriters may concentrate on the most valuable deals with the support of the Federato platform's submission triage features, which also open up possibilities for even higher cost savings through straight-through processing. With the help of their real-time reporting capabilities, you can present your board and reinsurance partners with proven underwriting outcomes that are supported by current performance metrics.

Federato simplifies the submission-to-binding process into a single, flexible platform, increasing productivity and transparency while controlling technological expenses. The Federato platform helps your underwriters stay in sync while they assess risks by providing guidance and decision support at each step of the process, based on your portfolio strategy.

“When it comes to proving the value we provide for our customers, we choose to 'show, not tell.”