Markel Insurance has collaborated with insurtech company Insurate to advance middle-market workers’ compensation through AI and safety scoring methodologies. 

Insurate’s platform employs advanced AI algorithms to analyse extensive datasets, delivering detailed insights into workplace safety performance.  

This enables more precise risk assessment and pricing, particularly for complex industrial and service operations prevalent in the middle market. 

The initiative aligns with Markel’s decision to enter the middle-market workers’ compensation sector.  

Markel programmes & alliances executive director Jeff Lamb stated: “Insurate’s forward-thinking approach to risk assessment and safety aligns perfectly with Markel and our commitment to innovation, empowering individuals, and creating long-term value.  

“We were impressed not only by their technology but also by their fundamental understanding of the insurance landscape and their focus on fostering safer workplaces.” 

By combining Markel’s strengths with Insurate’s technological innovation, the collaboration seeks to deliver tailored workers’ compensation solutions for middle-market businesses. 

Insurate CEO Joe McIlhon said: “This relationship is a powerful validation of our vision and technology. Markel’s support will accelerate our ability to deliver solutions that protect workers and reward businesses dedicated to safety excellence.” 

Recently, Markel expanded its partnership with Cyberwrite for cyber risk modelling.  

Markel Europe is leveraging Cyberwrite’s AI technology to support underwriters in assessing cyber exposures and sharing information with brokers and clients. 

The integration provides predictive cyber risk analytics for businesses worldwide, reducing loss ratios and enabling data-driven underwriting in seconds.