Health insurance captive chooses Gradient AI

Solution will help the captive better assess risk

Health insurance captive chooses Gradient AI


By Ryan Smith

Gradient AI, a software provider for the insurance industry, has announced that Roundstone Insurance, a health insurance captive for small to medium-sized employers, has selected its SAIL solution to help companies better assess risk.

Roundstone is a health benefits captive that specializes in offering cost-effective employee health insurance to small and medium-sized businesses. Such captives have become increasingly popular in recent years for providing smaller companies with the same insurance purchasing power enjoyed by larger corporations.

Many businesses that join Roundstone come from traditional insurance companies that do not share employers’ own claims history transparently with the employer, Gradient AI said. SAIL closes this information gap.

Roundstone selected Gradient AI’s SAIL product for its machine learning capabilities and its ability to access large amounts of de-identified data to assess risk for member organizations. SAIL can utilize prescription, medical and lab data at scale to inform insurance decisions.

Using SAIL’s data analytics and AI features, Roundstone can assess specific group risks and drivers with more granularity, Gradient AI said. This knowledge helps Roundstone’s underwriters to make more informed decisions when quoting new business.

“Gradient AI enables us to get an objective snapshot projection of claims within minutes of submission,” said Bruce Dunham, underwriting manager at Roundstone. “More importantly, we get the critical information we need without conducting time-consuming personal health questionnaires, which can be tedious, error-prone, and viewed by employees as intrusive.”

“We are thrilled that SAIL is proving to be an effective tool for Roundstone at both an employer and employee level,” said Stan Smith, founder and CEO of Gradient AI. “We look forward to continuing this relationship and supporting Roundstone’s mission to provide affordable, quality healthcare plans to companies of all sizes.”

Last month, Gradient AI announced that The Provant Group and The Builders Group had chosen the SAIL solution to streamline their operations.

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