SafeGuard is a proactive risk management and monitoring tool that helps insurers and policyholders reduce the likelihood of claims. It integrates real-time data sources—including environmental factors, operational metrics (through IoT devices), and historical data—to identify and flag potential risks before they escalate. SafeGuard can send alerts to insurers and clients, enabling them to take preventative actions, thus reducing both the frequency and severity of claims. This solution is designed to enhance operational safety across industries, particularly those with high-risk exposures, such as aviation, logistics, and property.
ClaimSense is a GenAI tool specifically trained for the insurance industry. It streamlines the claims process by automating data gathering, verification, and decision-making steps, making claim resolutions faster and more accurate. ClaimSense is targetedly trained on the client data and ensures optimum privacy and security for it. Through this data, it is able to give precise insights and allows for better analysis and actions both for the client as well as the insurer.
RapidRate is an AI-driven dynamic rating and premium calculation tool. It uses machine learning models to provide accurate, real-time premium adjustments based on changing risk factors, such as market data, geographic location, and client behavior which includes their customised data. RapidRate enables insurers to offer flexible, usage-based premiums, aligning pricing more closely with real-time risk exposure. This allows insurers to offer competitive, tailored pricing that reflects actual risk, making coverage more appealing and cost-effective for clients.
PredictEdge is a unique feature offered by Parametriks that enables insurance companies and other actors such as hedge funds to gain insights into external datasets they would not typically have access to. By providing a comprehensive view of external indicators and trends, PredictEdge supports faster and more informed decision-making, enhancing insurers' ability to adapt to market dynamics.
