Sixfold Content
Product Update
Referral Agent: From “To-Do” to “Done” in Seconds
Sixfold is shifting from insight to action. Our AI has helped underwriters surface risks, highlight insights, and guide decisions, but now we’re taking the next step with a suite of agents designed to clear bottlenecks in the underwriting process. First up: Referral Agent.
.png)
Stay informed, gain insights, and elevate your understanding of AI's role in the insurance industry with our comprehensive collection of articles, guides, and more.
Now Live: One-Click Source Verification for Every Fact
Sixfold’s in-line citation feature is all about building trust and confidence with underwriters by making it effortless to trace the source of Sixfold’s insights. And now, with our latest update we’re making this feature even better!
Sixfold’s in-line citation feature is all about building trust and confidence with underwriters by making it effortless to trace the source of Sixfold’s insights. And now, with our latest update we’re making this feature even better on our commercial platform!
So, what is new?
When reviewing an applicant’s case, you'll notice these improvements:
- Exact Source Page: No more searching through the entire document—now you’ll see the exact page where a fact was found.
- In-line Fact Attribution: Each fact provided by Sixfold will include a specific source citation.
- One-Click Verification: Click any citation, and it will instantly open the source page for you.
It’s now even easier and more intuitive to check exactly where Sixfold’s insights came from—whether a questionnaire, loss run statement, webpage, or any other source. This improves traceability and gives underwriters extra peace of mind. No need to read through a full report or scroll through multiple pages to validate Sixfold’s insights.
“This feature exemplifies our commitment to building trustworthy and explainable AI with elegant simplicity.”
- Drew Das, AI Software Engineer
Get in touch to get a full demo of Sixfold's platform.
.png)
AXIS Adopts Sixfold’s Purpose-Built AI Solution
Sixfold, the AI solution designed to streamline end-to-end risk assessments for underwriters, announced its partnership with AXIS, a global leader in specialty insurance and reinsurance, a collaboration that has yielded positive results in its initial roll out.
October 18, 2024 - Sixfold, the AI solution designed to streamline end-to-end risk assessments for underwriters, announced its partnership with AXIS, a global leader in specialty insurance and reinsurance, a collaboration that has yielded positive results in its initial rollout. Within the first month of deployment, AXIS underwriters leveraged Sixfold’s solution to improve efficiency, accurately classifying businesses and aligning cases with their risk appetite.
“This partnership is all about leveraging AI to empower our underwriters and even further enhance the service we provide to our customers. We were searching for a solution that could reliably deliver precision, and Sixfold has done just that and more.
The real game-changer has been the time savings—freeing up valuable hours so our underwriters can zero in on the work that drives results while ultimately benefiting the customer” said Josh Fishkind, Head of Innovation at AXIS.
“Our goal is to provide meaningful ROI for all our customers, and AXIS has already begun to see these benefits,” said Alex Schmelkin, Sixfold's Founder & CEO. “We look forward to continuing our partnership as AXIS discovers more ways Sixfold can enhance their underwriting processes.”
Read the full customer story here and check out the Insurance Post article covering our work with AXIS.
New AI Features to Raise the Bar on Underwriting Efficiency
We’ve enhanced our commercial underwriting platform with a suite of AI-powered features that streamline end-to-end underwriting across all lines of business.
With our latest product updates, we’ve extended our commercial underwriting product with a suite of AI-powered features to facilitate end-to-end underwriting across all lines of business, scaling from transactional underwriting to complex, three-dimensional risks.
Sixfold’s number one superpower is to easily–and quickly–ingest carriers’ unique underwriting guidelines and automatically surface the submissions that match the carrier’s unique risk appetite. The platform empowers carriers to streamline the underwriting process by:
🔘 Analyzing publicly available information and ingesting data from multiple disparate sources in an instant for a comprehensive risk assessment
🔘 Generating a comprehensive summarization of the business’s operations and providing NAICS/SIC classification
🔘 Surfacing positive and negative risk factors tuned to a carrier’s unique appetite
🔘 Answering complex questions across large sets of documents
🔘 Prioritizing risks with an underwriter-facing dashboard for improved resource allocation
Over the past half, we’ve significantly matured our P&C underwriting platform with deep investments across accuracy, traceability, performance, and extensibility. Some of the key highlights include:
✔️ Improved Accuracy with Advanced Document Extraction
As underwriters ask complex questions across large sets of documents, we’ve invested in new models to improve extraction across the universe of insurance documents. With Sixfold’s latest models, we’ve seen a 40% boost in accuracy in extracting data from the most illegible documents.
With our ongoing investments in extraction models tailored to the documents underwriters see daily, Sixfold ensures precise and reliable insights from large, challenging document sets, transforming how underwriters interact with data.
.png)
✔️ Appetite Match Scoring with Weighted Risk Scoring
To replicate underwriters’ cognitive processes, Sixfold is introducing weighted risk signals to reflect the nuance across how underwriting factors impact where a risk sits within a carrier’s appetite. Now, carriers can assign varying importance to different factors to prioritize risks more accurately based on alignment with their risk appetite.
✔️ Enhanced Transparency with Inline Citations
Not only can Sixfold answer complex questionnaires across lines of business, but now all answers are grounded in the original source material with citations to the most relevant sections for confident decision-making.
✔️ Bringing Risk Classification and Summarization Down to Seconds
With our continued commitment to investing in the Sixfold pipeline architecture to improve performance, availability, and resilience, we’ve brought down the median case processing time from 80 seconds to 31 seconds. With these enhancements, in less than a minute, Sixfold can research publicly available information to learn everything we can about a business and analyze the aggregated data for business summarization and NAICS/SIC classification.
✔️ Embed Sixfold across Underwriters’ Existing Workflows with our API
With the Sixfold API, carriers can seamlessly integrate Sixfold into existing workflows for enhanced productivity and unified risk management. From automated data gathering and ingestion to custom-tailored underwriting recommendations that can be embedded across existing workflows and systems, Sixfold cuts out the manual work and document handling overhead for 10x faster risk review processes.
✔️ Mitigating drift and bias with our Responsible AI framework
Designed to navigate the rapidly evolving AI landscape confidently, Sixfold’s Responsible AI framework ensures carriers are well-insulated from risk with its enhanced auditability, data provenance, and traceability. By actively collaborating with regulatory bodies and legal counsel, Sixfold remains at the forefront of responsible AI innovation, safeguarding carriers with unparalleled diligence.
👀 Coming Soon: Research Assistant
Stay tuned for future launch updates to hear about upcoming capabilities like Sixfold’s Research Assistant, designed to find answers to complex research questions, all of which are grounded in the original source material with citations.
Want to see our new capabilities in action?
Get in touch →
New Features to Revolutionize Life & Disability Underwriting
Our latest Life and Disability AI-powered features focus on overcoming longstanding underwriting challenges and gives a fresh perspective to underwriters.
With our latest product update, we’ve sharpened our focus on Life & Disability via a suite of AI-powered features that overcome common underwriting challenges.
Sixfold’s number one superpower is to easily–and quickly–ingest carriers’ unique underwriting guidelines and automatically surface the submissions that match the carrier’s unique risk appetite. Moreover, the platform empowers Life & Disability carriers to streamline the underwriting process by:
🔘 Ingesting data from multiple disparate sources in an instant
🔘 Generating a comprehensive summarization of the applicant's health history and lifestyle within minutes
🔘 Surfacing positive & negative risk signals aligning with the unique risk appetite of each carrier
🔘 Triaging submissions with an underwriter-facing dashboard for improved resource allocation
We've significantly broadened our Life & Disability offerings by expanding into six key areas, facilitating us to quickly create a comprehensive 360-degree applicant profile in just minutes by:
✔️ Reducing manual workload through improved document ingestion
Our technology has been significantly enhanced to process and analyze an extensive history of lab results, diagnoses, and medication records, covering years or even decades.
The platform is proficient in ingesting data from various sources including APS files, MIB reports, labs, applications, supplementals, Electronic Health Records (EHR), and Fast Healthcare Interoperability Resources (FHIR) files. By automating the ingestion of these diverse data types, Sixfold eliminates the need for manual document handling by underwriters.
✔️ Refining risk evaluation with a holistic view of medications, treatments, lifestyle choices, and family history
The platform leverages advanced synthesis of adjacent applicant history information, including pertinent family medical histories and lifestyle attributes, to offer a comprehensive understanding of their broader health habits and disease predispositions.
By integrating details from submitted records—such as family diagnoses ("father was diagnosed with melanoma at 63, but was successfully treated")—with insights into exercise routines ("engages in moderate-intensity aerobic exercise and weight lifting"), hobbies ("applicant scuba dives several times per year"), and substance use ("consumes a few beers every few days"), Sixfold provides a holistic view of an applicant's health.
This comprehensive approach enhances the precision of assessments, enabling more informed decisions regarding risk.
✔️ Improving risk decision precision with in-depth analysis of health condition progression
We are now able to aggregate data related to a condition, including adjacent factors like medication, to chronologically track the comprehensive progression of the condition across multiple data sources. By utilizing detailed health data and its evolution over time, we enable more informed and accurate underwriting decisions.
This approach provides a unique layer of detail, incorporating crucial health information over time, allowing underwriters to quickly grasp risk with relevant context, thereby informing more precise rating and pricing.
✔️ Enhancing fraud detection by identifying inconsistencies across sources
Underwriters are tasked with synthesizing and managing a vast amount of information from lengthy documents, including Attending Physician Statements (APS), self-reported data, laboratory results, and more. An important aspect of analyzing these documents is to identify inconsistencies or discrepancies that could arise from oversight or fraud. Instead of solely relying on underwriters to detect irregularities across diverse documents, Sixfold proactively identifies and flags these discrepancies to the underwriter.
The platform's automated capability to identify problematic areas empowers underwriters to make informed decisions, leading to more accurate pricing of premiums and greater reliability of applicant information, safeguarding both insurers and applicants.
✔️ Expanding traceability with full document and page number sourcing
Our recent achievement of SOC 2 Type 2 certification underscores our commitment to being a responsible AI solution.
In this release, we've taken traceability to the next level by ensuring underwriters have access to complete information sourcing, pinpointing the exact document and page for increased transparency and accuracy.
✔️ Boosting underwriting capacity with upgraded triaging functionality
Sixfold's latest update introduces a streamlined dashboard experience, designed specifically to empower underwriters to efficiently prioritize applicants who meet their risk tolerance and gracefully set aside those who do not. This effectively addresses the common 'front door issue' in Life & Disability underwriting, which involves managing an overwhelming influx of submissions by automating the pre-processing of applications. Within minutes, Sixfold accurately identifies and aligns applicants with the carrier’s risk criteria, significantly easing the burden of manual sorting and enabling underwriters to focus on the most suitable cases.
Our newest updates equip life & disability underwriters with a complete, clear and accurate health snapshot for every applicant, pinpointing key data points without sacrificing our commitment to compliance and data privacy.