Planck

Planck is an AI-based data platform for commercial insurance that transforms underwriting processes through real-time data insights. The platform enables insurers to instantly underwrite policies using just a business name and address. Planck's technology harvests and analyzes billions of data points from thousands of sources including public records, government databases, social networks, review sites, and business websites. The platform uses advanced AI capabilities including computer vision, natural language processing, and proprietary machine learning models to generate risk insights with 90% accuracy. In July 2024, Planck was acquired by Applied Systems, a major provider of cloud-based insurance management systems, to expand AI capabilities across Applied's global product portfolio.

The platform offers up to 800 customizable insurance-specific insights and can assign detailed NAICS codes to create comprehensive business risk profiles. Its proprietary entity matching algorithms verify relationships between businesses and information sources. The platform's SAGA search engine compiles all data used in its models, eliminating the need for underwriters to consult multiple external sources. Planck's business model involves charging carriers a percentage of premiums that pass through the platform rather than per-query fees. In September 2023, the company launched Planck PLUS, a generative AI-enhanced underwriting workbench that serves as a strategic toolkit and co-pilot for underwriters.