The Rise of Generative AI in Commercial Insurance

Generative AI has quickly emerged as a game-changing tool across many business segments. Unlike earlier AI models, which relied on lots of training data to train models for very specific language, generative AI is powered by large language models (LLMs) capable of understanding, generating and processing language at a near-human level. These models can be designed to handle the complex language of insurance policies and understand nuanced terminology, which makes them an ideal fit for commercial insurance applications, such as enabling brokers to automate complex processes, increase productivity, and enhance client satisfaction.


Blue Pond AI is one of the leaders in leveraging these advanced AI capabilities within the insurance sector. The company’s flagship product, the Broker CoPilot, is an GenAI-driven platform built to manage various insurance-specific tasks, such as policy checking, quote comparison, underwriting COI generation, and submission ingestion. By focusing on the specialized needs of the industry, Blue Pond AI aims to help brokers save time, reduce errors, and optimize client outcomes.



What makes generative AI so valuable in commercial insurance? The answer lies in its ability to process vast amounts of data and perform complex language-based tasks that were once time-consuming and prone to human error. With tools like Blue Pond’s Broker CoPilot, generative AI doesn’t just perform these tasks; it also generates valuable insights that brokers can use to better understand their clients and improve their services.


Policy Checking and Policy Review: Reducing Tedious Work & Your Risks


One of the most critical areas where generative AI can make a significant impact is in the realm of policy checking and policy review. Both processes are essential, but they serve distinct functions in the insurance workflow.


Policy Checking


Policy Checking is an essential service these days that involves comparing a client’s new policy against the expiring and some times also the submissions sent to the carrier. This process ensures that the renewed policy aligns with the original terms and conditions, as well as what the agent asked for to be covered in the application. Given the focus on productivity and automated scanning and intake of applications by Carriers these days, there are a lot of errors between what an agent submitted or the coverages in the previous policy and what the carrier sent back in the new policy.





The problem is worse when dealing with policies with large schedules, like complex multi location property policies or commercial auto policies. Checking details of all listed properties and trucks can be very tedious and hard for humans – but this is exactly the kind of work that 

AI does instantaneously and with high accuracy.


By automating policy reviews, Blue Pond’s Broker CoPilot gives brokers an essential tool to verify renewals quickly and accurately, enabling them to provide more value to clients by catching any potentially problematic adjustments. This is by far the single biggest lever to reduce E&O risks to an agency and making sure that your clients don’t have to suffer a denied claim due to an error.



Policy ReviewIn contrast, Policy Review is the process of comparing a quote or a policy issued by a carrier to what is typically covered in similar policies. This is a quick review for the agent or broker to get a quick checklist of what should be covered based on typical terms, coverages etc., but unlike policy check, it does not verify that is indeed what the client needs or asked for, or if it aligns with what they paid for and bought last year. Thus a policy review in essence, is a quick review not a comprehensive check.


To read Full blog visit- The Rise of Generative AI in Commercial Insurance

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