Frequently Asked Questions
Verikai serves the U.S. Health, P&C, and Life Insurance markets. With our initial focus in the health insurance industry, we have grown to over 40 active carriers/MGUs and 400 brokerages utilizing our technology to improve their sales and underwriting processes.
Verikai offers both an API version of our product and a web-based UI for our customers. The Verikai team can help you decide which version best suits your business and operational needs.
We have a large array of data sources, and our data science team is constantly evaluating new data sources, so the timing varies dependent on the source. Most of our existing data is updated in real-time along with certain data sources updated daily, weekly, and monthly. We are continually improving our machine learning models to give our customers the most predictive risk platform on the market.
Verikai at its core is an applied data company. While we are best known as a leader in the predictive risk space for insurance, we utilize traditional and alternative data in conjunction with our unique machine learning technology to help insurers gain greater insight to solve their most difficult problems.
We have the largest database of human behaviors in the United States, with our AI-powered machine learning platform we’re able to provide actionable insights into the behaviors of millions of people, helping insurers to make more accurate risk assessments and drive profitable growth.
In fact, our “prove it before you buy it” mantra is at the core of our business. We conduct in-depth statistical validations of our products against historical performance to demonstrate their effectiveness, and we have a proven track record of outperforming our competitors.
Verikai remains operating as a standalone company. While our culture and day-to-day business has not changed, we now have access to greater resources.
As a startup, we have always had long-standing ambitions to keep creating new products in new lines of business and innovating for our clients. We knew AFG was the right partner due to their shared belief around prioritizing customers, focusing on the future, and respecting employees.
This is an exciting new chapter for Verikai. With the support from AFG, we can invest in our culture, products, and customers in ways we couldn’t before. We can’t wait for what’s next!
Verikai is in the business of taking cutting-edge technology and providing it in an easy-to-use solution for insurance carriers. We are purpose built to serve the insurance industry and assist in giving our carrier customers the most powerful set of predictive tools possible. We are here to supplement the status quo and to make technology highly accessible. We can help usher in a new era of data and AI across the insurance industry.
The application of what we are doing applies across health, life, property & casualty, and more. We plan on creating more products in more lines of business to help insurers access the power of alternative data and machine learning.
Our goal is to increase financial access to crucial products for consumers and small businesses.
Verikai places a high priority on data privacy and security, and is committed to ensuring the safety and security of customer data through various measures. Verikai has implemented multiple security measures to safeguard user data. This includes encrypting all data at rest, enforcing restricted user access with multi-factor authentication, and adhering to comprehensive data protection policies that meet SOC and HIPAA standards.
Have more questions about Verikai? Send us an email at email@example.com.