NeuralMetrics, a modern InsurTech data provider using natural language processing (NLP) technologies to power a real-time, alternative data engine for commercial lines general or property and casualty (P&C) insurance companies, is pleased to announce the company’s official launch.
NeuralMetrics is headquartered in New York City, with additional offices in the U.K., Europe, the U.A.E., and India, and was founded by data and technology experts and entrepreneurs, Prakash Vasant and Marcus Daley. The company’s SmartRatio SaaS platform, which is currently in live in production environments with several commercial lines P&C insurers, uses NLP and machine learning (ML) to extract actionable information from hard-to-access, unstructured public data to enhance decision-making and increase revenues.
“The world’s pace of change has accelerated dramatically in the last decade and insurers need more information in order to stay ahead of digital-first competitors,” said Prakash Vasant, co-founder and CEO of NeuralMetrics. “By providing real-time access to new and unstructured data sources, NeuralMetrics is helping transform the accuracy of insurers’ underwriting capabilities.”
“One of the greatest opportunities in InsurTech is addressing the information gap in the SME business sector,” explained Marcus Daley, technical co-founder and executive advisor. “The challenge has been working with big data while accurately processing models against small, public data that represents individual small businesses. Doing this efficiently represents a game changer for the industry.”
NeuralMetrics’ Smart Ratio plays an especially crucial role in delivering data for underwriting, as well as for classification and intelligent prospecting initiatives. Via open APIs, NeuralMetrics seamlessly integrates real-time, curated datasets with existing systems to streamline customer acquisition, improve the onboarding experience, elevate the accuracy of risk decisioning, and redefine the customer experience.