We are committed to delivering on the promise of AI to power commercial insurers in their pursuit of a fast-growing, profitable book. - Paul Monasterio, Kalepa
NEW YORK (PRWEB) July 14, 2020
Kalepa, the pioneering commercial insurance underwriting software company combining Artificial and Human Intelligence, announced today that it has been named a Cool Vendor by Gartner, Inc. The 2020 report titled Cool Vendors in Insurance recognizes interesting, new and innovative vendors, products and services in the insurance market. Kalepa is one of five companies recognized by Gartner in the report.
According to the report from Gartner, “The commercial P&C insurance market has not transformed core business processes, such as underwriting, believing they were overly complex and that technology was not the answer. While a few vendors have launched offerings to improve workflow and analytics for P&C underwriters, these solutions failed to support both automated and human-based underwriting decision making and apply learning principles.”
"I am very proud of the Kalepa team for being recognized by Gartner, the world’s leading research and advisory company," said Paul Monasterio, Co-Founder & CEO of Kalepa. "We are committed to delivering on the promise of AI to power commercial insurers in their pursuit of a fast-growing, profitable book. Kalepa’s team works tirelessly to serve our underwriter users who rely on Kalepa’s Underwriting Copilot to enhance their productivity and make increasingly informed risk selection decisions. Furthermore, we are pursuing a bold vision of enabling underwriters to 10X their performance and financial impact.”
“I congratulate Kalepa on being named a 2020 Cool Vendor by Gartner”, commented Mario Vitale, venerable insurance industry leader and former CEO of Aspen Insurance Group, Zurich Global Corporate and Willis North America. “In my opinion, Kalepa is uniquely positioned to transform the way commercial policies are underwritten, combining underwriter expertise with the power of big data and cutting-edge technology. Kalepa has done a terrific job relentlessly focusing on delivering measurable value for insurers and helping their customers win.” Paul Monasterio added: “we are thankful to Mario for his decades of leadership and vision in our industry and we are honored that he has agreed to join us in this mission as a member of Kalepa’s Advisory Board”.
Source: Gartner, “Cool Vendors in Insurance,” Sham Gill, Venkatesh Padmanabhan, Laurie Shotton, Kimberly Harris-Ferrante, Manav Sachdeva, Richard Natale, 29 May 2020.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's Research & Advisory organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Kalepa delivers decision-support software to commercial insurance underwriters. Kalepa's AI-powered Copilot enables underwriters to focus their time on the highest ROI opportunities and to rapidly evaluate and optimally select risk. By analyzing billions of points of structured and unstructured data, Copilot augments underwriters with insights and recommendations on every risk. Copilot’s AI engine incorporates active learning to continuously improve and empowers each underwriter to achieve their highest level of performance. Copilot helps insurers, MGA’s and Program Managers to enhance underwriting performance and drive profitable premium growth. Kalepa is based in New York City and is backed by IA Ventures.