Verisk, a global leader in data analytics and technology for the insurance sector, has officially introduced its Commercial GenAI Underwriting Assistant, a cloud-based solution designed to modernize and streamline commercial property underwriting. By combining advanced data analytics with the power of generative AI, the new solution empowers underwriters to make faster, more informed decisions, improve profitability, and adapt to the constantly changing commercial property landscape.
The Commercial GenAI Underwriting Assistant brings several key innovations to the industry. First, it harnesses generative AI to automate routine workflows and manual tasks, while also summarizing complex datasets through advanced data ingestion. In addition, it delivers real-time risk appetite insights that accelerate underwriting risk assessment. Second, it integrates seamlessly with existing underwriting and policy administration systems as an API-enabled solution, ensuring flexibility, scalability, and security. Finally, it enhances decision-making with a “Human-in-the-Loop” approach, blending AI-driven insights with professional expertise instead of replacing it.
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Doug Caccese, co-president of underwriting solutions at Verisk, emphasized the urgency of automation in the industry. He said, “Automation is no longer a luxury for insurers it’s a necessity. As strategic partners to our clients and leaders in modeling and rating support, we want to help insurers evolve their workflows in a future-proof and scalable way. Our new AI assistant offers the industry trustworthy, responsible innovation at scale that will support and augment the expertise of insurance professionals, while also increasing speed and efficiency.”
Addressing Core Industry Challenges
The insurance sector currently faces rising operational costs, shrinking margins, and a workforce shortage that threatens valuable institutional knowledge. Verisk’s Commercial GenAI Underwriting Assistant directly tackles these issues by boosting efficiency, automating risk submission intake, and providing actionable insights that can improve pricing strategies.
Insights from Verisk’s 2025 State of the Industry Survey further highlight the need for such innovation. According to the report:
- 43% of respondents identified profitability as their top priority, followed by revenue and growth at 28%.
- 36% pointed to digital transformation and modernization as their biggest challenge.
- Most notably, 69% believe AI and generative AI will have the greatest impact on the industry within the next five years.
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These findings, based on responses from 264 attendees of the Verisk Insurance Conference, underscore the demand for intelligent automation and data-driven underwriting to maintain competitiveness.
Verisk developed the Commercial GenAI Underwriting Assistant in a private, secure environment built on ethical AI principles, including fairness, accountability, inclusivity, transparency, and privacy. The solution is part of Verisk’s broader Augmented Underwriting Suite, which integrates leading products such as Touchstone and Rulebook into a seamless, modular process.
By offering scalable technology and ethical AI, Verisk continues to help insurers, reinsurers, and other stakeholders reduce costs, modernize operations, and underwrite risks with greater precision across property, auto, commercial, and liability lines of business.
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