Skyward targets self-funded health insurance market

Skyward Specialty Insurance Group partners with Gradient AI, an enterprise software provider of artificial intelligence (AI) solutions for the insurance industry, to power SkyVantage, a state-of-the-art technology-driven stop-loss solution for its A&H (Accident and Health) division .

According to Skyward, as employers’ medical costs continue to rise, more and more companies are turning to self-funded health insurance models. However, due to a lack of access to sufficient historical data, many businesses are reluctant to purchase stop-loss insurance or access the protection they need to self-fund employee benefits. Inability to take advantage of the value-added quality and cost containment solutions offered to self-funded employers. These employers have been relegated to the full insurance market to provide health insurance, resulting in double-digit annual growth and a plan design that leaves employees functionally uninsured.

Skyward Specialty A&H has met this challenge with SkyVantage, which leverages Gradient AI’s SAIL medical underwriting solution. As a result, Skyward Specialty has access to Gradient AI’s vast medical datasets and machine learning, and by combining this intelligence with underwriting process expertise, Skyward Specialty is able to assess group health risks at a deeper level.

With this solution, Skyward Specialty leverages the insights and more accurate assessments of these data to offer highly customized and cost-effective solutions for the self-insurance market. This has enabled employers to provide employee benefits in a more cost-effective manner, and many employers have self-insured employees who might otherwise not have been able to do so. You can hang it.

Byron Way, Chief Executive Officer of Skyward Specialty’s A&H division, said: “Our philosophy is that when an employer’s plan wins, so do we. Combined with , SkyVantage is a true differentiator in the market.”