Insurance underwriters typically spend weeks reviewing loss runs, policy documents, and risk factors before making coverage decisions. Kolena AI compresses that timeline to minutes by automating the document analysis, data extraction, and risk assessment steps that consume most underwriting hours.
This system tackles loss run analysis by ingesting reports from different carriers and standardizing their formats automatically. Claims from one carrier might show dollar amounts in column C while another puts them in column F, but Kolena normalizes these variations so underwriters can compare trends across multiple carriers without manual reformatting. The system extracts values with over 99% accuracy according to the company's performance data. One regional insurance carrier reported their underwriting review time dropped from two weeks to two minutes per file after implementation.
Risk profiling pulls together underwriting factors, claim history, and safety protocols into structured assessments. Instead of reading through pages of narrative text to find relevant exposure information, underwriters get standardized risk scores that highlight the factors driving each rating. The fraud and compliance monitoring module scans policy applications and applicant data for anomalies that might indicate misrepresentation or regulatory issues. This catches discrepancies human reviewers might miss when processing high volumes of applications.
Document extraction handles the tedious work of pulling specific data points from PDFs and scanned images. The validation layer checks extracted values against expected ranges and flags outliers for manual review. Operational insights let underwriters search company operations data, cross-reference sanctioned-party lists, or look up hazard grades without leaving the interface.
All outputs meet audit requirements. The system maintains SOC 2 and HIPAA compliance, which matters for carriers handling sensitive medical information or working with enterprise clients who require security certifications. The audit-ready format means underwriters can justify decisions to regulators without rebuilding documentation from scratch.
Kolena offers a two-week free trial. Pricing details aren't publicly listed beyond that trial period.
Kolena targets insurance carriers and underwriting teams dealing with commercial lines where loss runs and risk assessments drive most decisions. It's built for teams processing enough volume that manual review creates bottlenecks. Small agencies writing a few policies monthly won't see the same efficiency gains as carriers handling hundreds of submissions weekly. The system works best when fed structured documents. Handwritten notes or heavily redacted files will likely require more manual intervention than clean digital submissions.
