Lexcel has introduced its AI operating system for specialty insurance, a platform that applies each firm’s own guidelines and precedent to every submission it reviews. Underwriters use it to receive and triage broker submissions, manage their pipeline and prepare the work they issue, while retaining authority over every decision.

Specialty underwriting depends on expert judgment, and at most firms that judgment lives in prior files and with a few senior underwriters. As submission volumes grow, it becomes harder to bring that experience to bear on each new risk. Lexcel turns that experience into a foundation the whole team works from, one that compounds over time instead of starting over.

“Specialty underwriting teams handle thousands of submissions a year, and their loss ratios depend on applying the firm’s judgment consistently and comprehensively across that volume,” said David Stepovich, Co-founder and Chief Executive Officer of Lexcel and a former M&A attorney at Latham & Watkins. “Firms want to grow without compromising their standards. Our role is to put their existing expertise to work on every risk.”

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Underwriters review this work before anything is issued, and the firm’s positions are held as rules the team controls. Every decision the team makes flows back into the platform as precedent for future submissions.

Lexcel configures each deployment alongside the firm’s team on live business and connects to the systems teams already use so firms do not need in-house AI engineers or a new system of record.

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