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 complicated combinations of factors that drive your insurance risk - at a level of complexity beyond which humans can see - then uses what it has learned from your existing data to score both current policies and future submissions to help you triage and price them.

As a test, we fed this system a set of actual insurance policy and claim data, 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 probability that the previously-unseen policy would lead to a claim. To test its predictive accuracy, we then sorted those policies top-to-bottom based solely on the assigned score and split those policies into ten equal-sized buckets, best scores to worst. We then calculated the eventual claims rate for each bucket. The graph below displays the result -- the Soteris scoring system demonstrates a clear ability to predict which policies are likely to lead claims, and which ones are not.

By eliminating the higher-risk policies with our system, this company would have reduced its claims frequency by 10%.

« Best Scores
Worst Scores »
The Team
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Who We Are

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
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
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.