London-based Volt Underwriting has partnered with insurtech firm Novee to introduce an artificial intelligence-powered data intelligence layer across its power and renewables underwriting operations.
The collaboration focuses on improving how complex insurance submissions are processed. Energy and renewable infrastructure risks often include large volumes of documentation such as engineering surveys, historical loss reports and extensive schedules of insured assets.
Novee’s platform is designed to help structure and process this information by automatically cleansing large asset schedules, organizing exposure data and extracting insights from supporting documents. The structured information can then be fed directly into catastrophe modelling and pricing systems used by underwriters.
By automating parts of the data preparation process, the companies aim to reduce manual workloads for underwriters while improving the quality and speed of risk assessment.
Volt’s underwriting teams will also receive analytical insights derived from engineering documentation and loss histories, helping support underwriting decisions in complex energy and infrastructure risks.
The technology is designed to integrate with existing underwriting workflows rather than replace core insurance systems. According to the companies, this allows managing general agents and insurers to incorporate advanced analytics into their current processes without major technology overhauls.
The partnership highlights growing adoption of artificial intelligence tools within specialty insurance markets, particularly in sectors such as energy and renewable infrastructure where underwriting often involves large and complex datasets.
Source: InsuranceMagz