TensorAssist, Tensorflight’s chatbot assistant powered by OpenAI’s ChatGPT-4, helps commercial property insurance clients understand property data quickly.
TensorAssist, a new chatbot assistant powered by OpenAI’s ChatGPT-4 technology, has been introduced by Tensorflight, a provider of property data and analytics. All current Tensorflight clients with commercial property insurance are eligible for TensorAssist. They are able to quickly comprehend the enormous variety of data points in its property intelligence platform thanks to it.
Customers may quickly gain a much deeper understanding of how Tensorflight assesses risk with TensorAssist. As a result, it will be able to carry out evaluations on properties on a far wider scale than ever before with greater accuracy and efficiency.
In order to provide thorough coverage of 95% of properties in developed countries, the Tensorflight platform combines property data from three sources of imagery: ground level, aerial, and cutting-edge satellite images. It also includes data from public, contributory, and proprietary sources.
The vast property data platform of Tensorflight contains details on building characteristics including construction type, roof pitch/geometry, and number of floors. Additionally, there are other more specific criteria including the composition and condition of the walls, the state of the facade, and even the existence of highly combustible aluminum composite panels (ACP).
Tensorflight’s virtual AI assistant, created especially for the property insurance industry, will act as a priceless expert in property analysis and eventually be able to offer users detailed information and insights on any requested property as well as advice on related risks.
Standardizing documents with unstructured text
Jakub Dryjas, CEO of Tensorflight, commented on the launch: “With TensorAssist, our goal is to set a new benchmark for speed and accuracy in risk assessment in the commercial property insurance sector.
“Our AI assistant makes it possible for insurance underwriters to obtain in-depth information that once required the assistance of our team, completely changing the process. With the use of technology, we can streamline our business processes, cut expenses, and ultimately provide even more value to our clients.
In order to standardize unstructured text documents like Statement of Values (SoVs) and building permits, which frequently arrive in a range of formats, Tensorflight is also utilizing powerful GPT text processing capabilities.
Tensorflight will use this technology to make sure that these documents are coherent and consistent, greatly expediting the underwriting procedure. In order to give insurers even more crucial information, Tensorflight is improving its property data underwriting operations by providing succinct textual summaries of property and building portfolios.
Tensorflight’s longer-term goal is to develop a fully-fledged AI underwriter with higher accuracy and full autonomy using customer input from TensorAssist. A senior (human) underwriter from an insurance business will be able to provide this advanced system with instructions and assistance.
Tensorflight aims to empower one person to effectively manage the workload of an entire autonomous underwriting team by fusing the knowledge of a senior underwriter with the abilities of an AI underwriter. This will revolutionize the entire underwriting process while streamlining operations and maximizing efficiencies.