Bowhead Specialty, a provider of casualty and professional liability products, has announced its deployment of Kalepa’s Copilot underwriting platform to utilise its advanced AI for improved risk selection and optimal customer experience.
This partnership follows Bowhead’s successful $128m oversubscribed IPO last week, according to InsurTech Insights.
The collaboration aims to keep Bowhead Specialty at the forefront of technological advancements in the insurance industry, enhancing its risk selection process and customer experience through the use of AI.
This move is expected to significantly impact the company’s top and bottom lines by leveraging Kalepa’s innovative technology.
Bowhead Specialty offers a range of casualty and professional liability insurance products. The company is committed to providing tailored insurance solutions to meet the specific needs of its clients.
Kalepa, on the other hand, is known for its Copilot underwriting platform, which uses advanced AI to streamline and optimise the underwriting process, helping insurers make more informed decisions.
The integration of Kalepa’s Copilot will enable Bowhead Specialty’s underwriters to bind more policies more profitably. The platform’s AI capabilities help underwriters focus on submissions with the highest profit potential, analyse every risk comprehensively, and ultimately win more business.
Stephen Sills, CEO of Bowhead Specialty, expressed his enthusiasm about the partnership, stating, “Our partnership with Kalepa allows us to stay on the cutting edge. Many companies make big claims in their demos and talk about the potential of Al, but no one has impressed us as much as Kalepa.”
Steve Feltner, COO of Bowhead Specialty, commented on Kalepa’s product, “We considered many underwriting solutions to see if they could materially impact our top or bottom line – we’ve seen nothing out there like Copilot.”
“Not only is Kalepa’s technology miles ahead of other vendors, but when it came to driving real impact on our business, there was no competition.”
Jeff Saunders, head of casualty at Bowhead Specialty, said, “Using Copilot helps us bind more policies, more profitably – it’s that simple. Our underwriters love Copilot because it helps them focus on submissions with the highest profit potential, analyse every risk to make an informed decision, and ultimately win more business.”
Kalepa CEO Paul Monasterio, added, “We are delighted to collaborate with Bowhead Specialty, and we are proud of the many benefits that Copilot has already provided.”
“Commercial insurance is a trillion-dollar industry on pace to double within the decade, but it has been left behind technologically for several decades. Copilot’s groundbreaking Al is changing that by delivering tangible improvements to growth, efficiency, and profitability for insurers of all sizes. We are excited about our continued, rapid growth, and look forward to helping more underwriters Bind with Confidence than ever before.”
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