Businesses today rely on their insurance broker to be their system of record for insurance. This is a problem because brokers have limited time to help each of their clients.
Prism is an AI-native system of record that manages everything a business needs related to insurance, from the policies they have to the business context it relates back to. This allows businesses to get help whenever they need it without creating work for their broker.
Interactive demo
A contractor needs proof of insurance before starting work on a warehouse project.
“Can you send a COI for the warehouse project? ABC Properties needs to be listed as additional insured.”
— Mark Rivera, Operations
I’ve generated a certificate of insurance with ABC Properties listed as additional insured.
- •GL limit: $1,000,000 per occurrence
- •Aggregate: $2,000,000
- •Certificate attached as PDF
GL-2024-MC-4471, Section IV, p. 1
Why Prism
Insurance brokers have limited time for client servicing since the majority of their time is spent on sales. This results in significant client wait times, even for urgent requests. Moreover, insurance policies are difficult to understand, which means that businesses can't help themselves—even for basic questions like "am I covered for X?".
AI can change this, but only if agents have structured context and tools. Without this, even the best models produce inconsistent answers.
By extracting structured data from insurance policies and connecting with businesses' many core operating systems—which are often siloed—Prism is able to do the same work that would take brokers hours to do themselves with the highest levels of accuracy and expertise.
What Prism does
Proof of insurance requests from landlords, vendors or clients. Compliant certificates for each unique request, with the specific landlord or vendor listed as the certificate holder.
Basic policy questions. Factual answers for topics like policy term lengths, deductibles, exclusions, and coverage limits for internal and external audiences.
Declaration updates. Proactive updates to reflect changes in risk as businesses add vehicles, open new locations, or hire employees mid-term and at renewal.
Application filling. Assist with filling underwriting and renewal forms based on past policies and current business context.
Results
COI turnaround drops from 2–4 hours to 12 minutes.
Transactional servicing drops from 27h/week to 10h, freeing time for growth.