Sixfold

Revolutionize insurance underwriting with our cutting-edge generative AI co-pilot.

Insurance Underwriting Generative AI Risk Assessment Workflow Automation Underwriting Support Data Ingestion

Tool Information

Primary Task Insurance underwriting
Category business-and-finance
Sub Categories risk-assessment generative-text workflow-automation
Country United States

Sixfold provides a Generative AI solution designed for insurance underwriters. The tool ingests underwriting manuals, and highlights positive, negative, and disqualifying risk factors. It also gathers risk data from underwriting submissions, supporting documents, and third-party sources. Sixfold then generates semantic matches, summaries, and underwriting suggestions that are tailored to the users' unique risk appetite. The tool aims to boost underwriting capacity, transparency, and enhance the accuracy in decision making. It provides complete transparency around underwriting decisions, which might be appreciated by compliance teams. It can automate workflows by identifying patterns from various sources and uses generative AI to summarize risks in an underwriter's format. Sixfold also offers full traceability of all underwriting decisions, no mixing of data, and provides enterprise-grade security. The tool is designed to integrate with existing technology, avoiding the need to overhaul legacy systems.

Sixfold is a generative AI company based in New York City, founded in 2023. The company specializes in insurance underwriting solutions, focusing on automating risk assessment to enhance efficiency, accuracy, and transparency in underwriting workflows. Sixfold's mission is to reduce manual tasks for underwriters, allowing them to concentrate on high-value decision-making and relationship management.

The company offers a generative AI platform that automates risk analysis, triages submissions, and summarizes data to streamline the underwriting process. Initially focused on commercial insurance, Sixfold has expanded its capabilities to include life and disability insurance underwriting. Their transparency tools provide traceable AI-driven recommendations, fostering trust in automated decisions. With a hybrid team operating across various U.S. cities, Sixfold has raised $21.5 million in funding, positioning itself for growth in the insurance sector.

Pros
  • Ingests underwriting manuals
  • Highlights risk factors
  • Gathers risk data
  • Generative semantic matches
  • Generates risk summaries
  • Generative underwriting suggestions
  • Scans multiple data sources
  • Compliance-friendly transparency
  • Automates workflows
  • Traceability of decisions
  • No mixing data
  • Enterprise-grade security
  • Respects legacy systems
  • Processes multiple document types
  • Customizable to risk appetite
  • Improves underwriting efficiency
  • Improves decision accuracy
  • Helps in detecting inconsistencies
  • Semantic matching capabilities
  • Simplified language summaries
  • Supports diverse insurance needs
  • Triages submissions per risk
  • Detects risk signals
  • Improved risk matching
  • 10X faster triaging
  • Risk signals contextualized
  • Accelerates data gathering
  • Full sourcing of decisions
  • Transparency in tracing inputs
  • No co-mingling data
Cons
  • Limited to insurance underwriting
  • No underwriting manual customizability
  • Dependent on third-party sources
  • Relevance of semantic matches unknown
  • Risk analysis granularity unclear
  • Unknown data security measures
  • Legacy system integration limit
  • Risk appetite customization unclear
  • No explicit automation controls
  • No demographic-specific solutions

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