Gore Mutual to implement Underwriting Partner product
Element AI Element AI
April 17 3 min

Gore Mutual to implement Underwriting Partner product

Tomorrow’s insurance industry is taking form. Visible shifts are emerging within the insurance landscape, making room for key innovations in the artificial intelligence space. The role of this innovation is becoming increasingly important in augmenting decision-making and improving operational efficiencies. That’s why we are so pleased to announce our latest partnership with Gore Mutual Insurance, who chose Element AI to begin their AI journey through our Underwriting Partner software.

Canada’s oldest property and casualty (P&C) insurer, Gore Mutual, will be leveraging our AI-powered products within their underwriting process. Aligned with Gore Mutual’s commitment to building better insurance for their clients, underwriters will be empowered to better prioritize incoming submission requests as well as make faster, fair, and more informed decisions throughout the underwriting process.

Less time spent on repetitive tasks, more time spent on people

As with all Element AI products, our Underwriting Partner software - part of our Insurance Series - is modular and role-centric in design. Our team will work closely with Gore Mutual’s underwriting experts to configure and deploy features. Why? To enhance risk-assessments for diminished data-entry time, while preserving Gore Mutual’s unique underwriting practice.

Once deployed, the product functions by understanding data and inferring signals that power learning models to quickly facilitate decision making. With less time spent on repetitive tasks such as data-entry, underwriters are free to build more meaningful relationships with brokers and customers, in turn, further augmenting risk-assessment and reducing the incidence of monthly overflows.

Gore Mutual's AI first-mover advantage in a competitive industry

Gore Mutual’s first-mover advantage in a competitive industry

AI is not a passing fad, the time for insurers to invest is now. By taking this critical first step on their AI adoption journey, Gore Mutual is empowering its underwriters to better tackle their professional goals, and develop new skills within their role; all while improving customer service levels.

“As a 180-year old insurance company, we have a massive inventory of unstructured data, but we estimate that about only 20% of it is being used,” said Sean Christie, CIO and VP of Information Services, Gore Mutual. “Collaborating with Element AI to integrate the latest AI technology is a bold, disruptive move that we believe will benefit our insurance broker partners and customers by working alongside our underwriters to create a competitive edge from all that unused data. We can leverage it across our business to strengthen products, policies, claims, billing systems, and more.”

“Element AI is excited to collaborate with Gore Mutual to bring one of its first AI-powered products to market, demonstrating the evolution beyond rules-based automation (RBA) in underwriting, while maintaining transparency and explainability. This is a great validation of our AI technology in a highly competitive industry that is racing to integrate and adopt the benefits of AI,” said JF Gagné, co-founder and CEO at Element AI. “Beginning as a generic product that rapidly learns and improves over time as it is used, Element AI Underwriting Partner software helps accelerate cycle times to process a higher volume of applications. Delivering faster, more accurate quotes will result in a win-win for Gore Mutual and its customers,” added Gagné.

Our Underwriting Partner product is the latest product announcement in our Insurance series of AI-powered, role-centric products. Built on a perpetual ‘learning’, modular approach, Element AI offers adapted integrations for all its AI-powered products.