Flow launches ‘AI agent’ for specialty coverages

Wholesale broker Flow Specialty Insurance Services LLC Wednesday launched an artificial intelligence-backed brokerage service that it says can pass the Registered Professional Liability Underwriter exams.

The service is available to retail brokers for specialty coverages, including cyber liability, errors and omissions and executive liability insurance, said David Derigiotis, Detroit-based president of brokerage and head of insurance.

“Artificial intelligence thrives on data and pattern recognition, so we feed it an unbelievable amount of information,” he said.

The information includes insurer brochures, policy forms, quotes, communications with underwriters and coursework for the RPLU exams, which it passed, Mr. Derigiotis said.

“It’s able to get an understanding of market appetite, what a carrier is likely to do on a particular risk, it’s able to understand the nuances of coverage,” he said.

Risks are submitted by email and the service can handle any size account but is aimed at small- to medium-sized risks where brokerage margins are thinner, Mr. Derigiotis said.