Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions in the insurance industry, today announced that Prodigy Health Insurance Services, a managing general underwriter (MGU) specializing in medical stop loss insurance, has chosen Gradient AI’s SAIL™ solution to optimize its self-funded insurance plans.
Prodigy is using Gradient AI’s SAIL group health underwriting solution to quote new business and transition clients from fully insured to more cost-effective self-insured plans. The company’s Integrated Health Solutions offers employers fixed monthly costs for administration, claims payments, and stop-loss insurance. Prodigy uses SAIL’s analytics to help employers be more proactive in improving healthcare outcomes while reducing healthcare costs.
Gradient AI’s rich medical data and advanced analytics enable Prodigy to offer innovative self-funded plans and to partner with employers to offer affordable high-quality healthcare to their employees. SAIL is unique in its ability to leverage prescription, medical, and lab data at scale to inform predictions, and is the only solution in the group medical insurance market that can offer such extensive data from a single source.
“We chose Gradient AI because it provides the most accurate assessment of risk and healthcare utilization, leading to more effective healthcare risk management and predictable insurance plan costs,” said John Youngs, CEO of Prodigy. “SAIL’s analytics enable us to help our clients be more proactive about their employees’ healthcare, driving better patient outcomes while controlling costs. Its high-quality medical data and advanced analytics have been a game changer, allowing us to transition fully insured businesses to more effective self-insured plans while enhancing healthcare outcomes.”
Using SAIL’s analytics, Prodigy’s solutions focus on delivering proactive employee healthcare management and cost reduction. This approach benefits employees and employers, and aligns with Prodigy’s mission of ensuring quality care and outcomes.
Stan Smith, CEO of Gradient AI, said, “We are thrilled to collaborate with Prodigy to enhance their medical stop loss insurance business. Our SAIL solution empowers Prodigy to optimize their offerings, enabling clients to transition to self-insurance while maintaining a strong focus on healthcare quality and cost-effectiveness.”
Gradient AI is a leading provider of proven artificial intelligence (AI) solutions for the insurance industry. Its solutions improve loss ratios and profitability by predicting underwriting and claim risks with greater accuracy, as well as reducing quote turnaround times and claim expenses through intelligent automation. Unlike other solutions that use a limited claims and underwriting dataset, Gradient’s software-as-a-service (SaaS) platform leverages a vast industry data lake comprising tens of millions of policies and claims. It also incorporates numerous other features including economic, health, geographic, and demographic information. Customers include some of the most recognized insurance carriers, MGAs, MGUs, TPAs, risk pools, PEOs, and large self-insured employers across all major lines of insurance. By using Gradient AI’s solutions, insurers of all types achieve a better return on risk. To learn more about Gradient AI, please visit: https://www.gradientai.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231114702039/en/