Pibit.ai

Pibit.ai is an AI-powered platform designed to streamline and enhance manual underwriting processes for property & casualty (P&C) insurance. The software automates data extraction from loss run documents, verifies information, and provides comprehensive analytics to improve efficiency and accuracy in commercial insurance underwriting.

Key features:
- Loss Run Automation: Extracts information from loss run documents using Computer Vision and Natural Language Processing (NLP) technologies.
- Data Verification: Ensures 100% accuracy through a dedicated data review platform.
- Data Enrichment: Gathers information from relevant third-party sources to provide a comprehensive view of the customer.
- Analytics: Generates visual reports summarizing key trends in loss run files.
- Flexible Delivery: Sends extracted data and analytics to carriers via APIs, Excel, SFTP, Email, or other preferred methods.

How it works:
1. The system ingests loss run documents.
2. AI technologies extract relevant information from the documents.
3. Data is verified for accuracy using the review platform.
4. Additional data is gathered from third-party sources for enrichment.
5. Visual reports and analytics are generated.
6. Extracted data and analytics are delivered to carriers through their preferred method.

Use of AI:
Pibit.ai utilizes a combination of Computer Vision, Natural Language Processing (NLP), and large language-based models to power its commercial insurance-specific AI solution.

AI foundation model:
The platform is built on a robust foundation of AI technologies, including Computer Vision and Natural Language Processing, tailored specifically for commercial insurance applications.

Target users:
- Property & Casualty (P&C) insurance carriers
- Commercial insurance underwriters
- Insurance brokers

How to access:
Pibit.ai's platform can be accessed through integration with existing insurance systems. The company has joined the Guidewire Insurtech Vanguards Program, which may provide additional avenues for implementation and access.

Security and compliance:
Pibit.ai prioritizes data security with SOC 2 Type II and ISO 27001 certifications. All data is stored on highly secure US-based cloud servers.