Verisk has introduced the cloud-hosted Commercial GenAI Underwriting Assistant, intended to modernise underwriting for commercial property.

The solution uses the company’s data analytics and generative AI (genAI) capabilities to streamline decision-making by automating routine tasks, ingesting and summarising large datasets, and providing immediate insight into risk appetite to speed up risk evaluations.

It is offered as an application programming interface (API)-enabled service to connect with existing policy administration and underwriting platforms.

Verisk describes the product as employing a “Human-in-the-Loop” model, where AI outputs are combined with professional judgement rather than substituting for it.

The solution was developed in a controlled environment and adheres to responsible AI principles including fairness, accountability, transparency, privacy and inclusivity.

Findings from Verisk’s 2025 State of the Industry survey, based on responses from 264 attendees at the Verisk Insurance Conference, are cited alongside the launch.

The survey shows 43% of respondents identified profitability as their organisation’s main priority, while 28% cited revenue and growth.

Digital transformation and technology modernisation were named as the top challenges by 36% of participants, and 69% indicated that they expect AI and genAI to exert the greatest influence on the sector over the next five years.

The assistant is part of Verisk’s Augmented Underwriting Suite, which brings together products such as Touchstone and Rulebook into a modular workflow.

Verisk underwriting solutions co-president Doug Caccese said: “Automation is no longer a luxury for insurers – it is a necessity.

“As strategic partners to our clients and leaders in modelling and rating support, we want to help insurers evolve their workflows in a future-proof and scalable way.

“Our new AI assistant offers the industry trustworthy, responsible innovation at scale that will support and augment the expertise of insurance professionals, while also increasing speed and efficiency.”