Bringing The Power of AI to Insurance

We create tools that incorporate the power of machine learning into your existing pricing process.

The Technology
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The Technology

Our first learning system understands the complex combinations of factors that drive your insurance risk - at a level of granularity beyond which humans can see - then uses what it has learned from your existing submission and loss data to score both current policies and future submissions to help you triage and price them.

In our pilot with our first customer, we fed our system a set of actual insurance policy and claim data to learn off of, then asked it to 'score' a separate set of policies it had never seen before. Each policy's score represents the system's estimate of the loss costs (incorporating both frequency and severity) of that previously-unseen policy. To test its predictive accuracy, we then sorted those policies top-to-bottom based solely on the assigned scores and split those policies into ten equal-sized buckets, best scores to worst, and then calculated the actual, eventual loss ratio for each bucket. The graph below displays the result -- the Soteris scoring system demonstrates a clear ability to predict which policies are likely to end up as loss-leaders, and which ones are not.

Our software has demonstrated the ability to raise our customers' profitability over 60%.

« Best Scores
Worst Scores »
The Team
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Who We Are

D. Scott Phoenix

Mr. Phoenix is the co-founder and CEO of Vicarious, which does fundamental scientific research into the nature of intelligence with the goal of building machines that exceed human intelligence. He is an advocate for the development of safe AI and a leading signatory on the Future of Life Institute's Open Letter on Artificial Intelligence. Before co-founding Vicarious, Mr. Phoenix was CEO of Frogmetrics (Y-Combinator S2008), Entrepreneur in Residence at Founders Fund, and CXO at OnlySecure and MarchingOrder. Mr. Phoenix earned his BAS in Computer Science and Entrepreneurship from the University of Pennsylvania.

Advisory Board - Co-Founder & CEO, Vicarious
William Jewett

William Jewett has over 30 years of experience in the insurance and reinsurance industry. Until May of 2012, Mr. Jewett was President and Board Member of Endurance Specialty (NYSE: ENH), a Bermuda-based insurance and reinsurance company. Prior experience includes Converium Reinsurance, Centre Re, NAC Re, and Prudential Re. He earned his BA in History and Science at Harvard University and his MBA from The Wharton School at the University of Pennsylvania.

Advisory Board - Former President, Endurance Speciality Holdings
Careers
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Join Soteris

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The Power of AI
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The Power of AI in Insurance

Over time, we plan to revolutionize insurance across the value-chain.

  • Our tools rank incoming submissions so your underwriters can focus on the best ones.
  • Our tools deliver modernized pricing using state of the art machine-learning techniques.
  • We plan to develop solutions to detect fraud/slippage within claims.
  • Our systems will allow your business to streamline its claims processing.
Want to Connect?
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Want to connect?

Whether you are interested in seeing a demo of our technology, partnering for a proof-of-concept, or just learning more about Soteris, we would love to talk.