Risk Assessment

New applicant requesting auto insurance quote with complex driving history.

"AI evaluates comprehensively: "I've completed the risk assessment for applicant John Smith, age 34. Here's my analysis: Driving Record Analysis: Clean for past 3 years (positive factor). One at-fault accident 4 years ago (minor impact - outside 3-year window). No DUIs or major violations (positive factor). 15 years licensed (experience credit). Vehicle Risk Profile: 2022 Honda Accord EX - safety rating: 5-star. Anti-theft device installed - discount eligible. Garaged overnight - lower theft risk. Annual mileage: 12,000 (average). Location Factors: ZIP 60614 - urban area, moderate theft rate. Commute: 15 miles each way - moderate exposure. No high-risk parking locations. Credit-Based Insurance Score: 780 (Excellent) - qualifies for best rates. Aggregate Risk Score: 72/100 (Low-Moderate Risk). Recommendation: APPROVE - Standard rates with good driver discount. Suggested premium: $1,245/year. Available discounts: Multi-policy (-12%), defensive driving course (-8%), pay-in-full (-5%). This application can be auto-approved - no manual underwriting needed.""

Homeowner applying for coverage on older home with some risk factors.

"AI assesses property risk: "Risk assessment complete for property at 456 Oak Street. Property Analysis: Year built: 1965 (58 years old - elevated risk factor). Square footage: 2,400 sq ft. Construction: Wood frame with brick veneer. Roof: Replaced 2019 (4 years old - positive). Electrical: Updated to 200-amp 2018 (positive). Plumbing: Original copper with some galvanized (concern). HVAC: Replaced 2020 (positive). Risk Factors Identified: HIGH: Galvanized plumbing increases water damage risk. Recommend inspection or replacement. MODERATE: No sump pump - basement water risk. Credit offered for installation. MODERATE: Trees within 20ft of structure - wind/fall risk. LOW: Detached garage - fire separation adequate. Location Analysis: Fire station: 1.2 miles (good response time). Flood zone: X (minimal flood risk). Crime rate: Below average for area. Natural disaster exposure: Low tornado, no earthquake, moderate hail. Aggregate Property Score: 65/100 (Moderate Risk). Recommendation: APPROVE with conditions. Standard rate + 8% for plumbing concern. Offer to remove surcharge upon plumbing inspection/update. Required: Photos of electrical panel, roof, and plumbing. Premium estimate: $1,890/year (or $1,740 with plumbing update).""

Small business applying for general liability and property coverage.

"AI evaluates business risk: "Commercial risk assessment for ABC Consulting LLC. Business Profile: Type: IT Consulting firm. Employees: 12. Annual revenue: $2.4M. Years in business: 7 (established - positive). Location: Leased office space, 3,000 sq ft. Operations Analysis: Primary work: On-site and remote consulting. Client locations: Various (increases exposure). Employee travel: Moderate (25% travel time). Physical operations: Low-risk (office-based). Liability Risk Factors: Professional services - E&O exposure identified. Recommend professional liability coverage. Client contract review - adequate hold-harmless clauses. No history of claims (positive). Industry Loss Data: IT consulting has below-average GL claims. Primary exposure: Slip/fall at client sites. Property Assessment: Office contents value: ~$150,000. Computer equipment: High concentration risk. Business interruption exposure: Moderate. Recommended Coverage Package: General Liability: $1M/$2M - Premium: $1,850/year. Property: $200K contents - Premium: $1,200/year. Professional Liability: $1M - Premium: $2,400/year. BOP discount available: -15% when bundled. Total recommended premium: $4,633/year. Risk Score: 58/100 (Low-Moderate). Auto-approval eligible with standard documentation.""