Starkweather & Shepley Insurance Brokerage, Rhode Island’s largest independent insurance agency, has introduced an artificial intelligence (AI)-powered platform aimed at making the insurance procurement process easier and improving underwriter risk assessment.
Investment advisors often face time-consuming and complex application procedures, particularly for securing management and professional liability coverage. Starkweather & Shepley’s new AI platform seeks to ease this burden by automating significant parts of the application process.
The software is designed to pre-fill insurance forms and underwriting worksheets, using a proprietary algorithm and extensive data, speeding up the overall process, according to the company.
Jessica Thayer, senior vice president and financial institutions practice leader at Starkweather & Shepley, emphasized the role of client input in developing the platform. “Our clients’ feedback has played a critical role in our decision to implement advanced technology that simplifies the insurance process,” she said.
“We recognize the challenges our clients face when completing insurance applications. With this innovative solution, we’re making strides toward providing a more stress-free experience for them.”
Thayer added, “Our objective is to make the insurance process straightforward. We want our clients to focus on what truly matters without being overwhelmed by the complexities of traditional application methods.”
Earlier this year, Starkweather & Shepley opened a new office at Golden Bear Plaza, located at 11760 U.S. Highway One West Tower in Palm Beach Gardens, marking their second location in Florida.
At the time, Andrew Fotopulos, then executive vice president for Florida and now the firm’s chairman, remarked: “We’re thrilled to expand our Palm Beach Gardens location and proud of the accomplishments of our Florida team.
“As we celebrate 145 years of business, our continued growth is a reflection of the hard work and commitment of our entire team.”
