AI Prompts for Insurance

I am a commercial property underwriter. I have received a broker submission for a new business account. The attached documents include: 1. ACORD 125 & 126 forms 2. 5 years of currently valued loss runs 3. A statement of values for 15 locations Please act as an underwriting assistant. Review the following [[redacted]] text from these documents and extract the key data points into a structured summary. I need to know: - The proposed policy effective date. - The applicant's industry (NAICS code if available). - Total insured value (TIV) across all locations. - Number of locations with a value over $[[threshold, e.g., 10M]]. - Total number of open claims and total incurred on closed claims in the past 3 years. - Any large losses over $[[threshold, e.g., 100k]]. Here is the redacted text: [[Paste redacted text from ACORDs, SOV, and loss runs]]

I am reviewing a new business submission for a [[line of business, e.g., Cyber Liability]] policy. Based on our standard underwriting requirements listed below, please review the provided [[redacted]] submission documents and identify any missing information or documents that I need to request from the broker. Our requirements: - Completed and signed application - 3 years of financial statements - Details of current cybersecurity controls (MFA, EDR, etc.) - Incident response plan - List of all third-party vendors with access to sensitive data Provided documents: [[Paste redacted text or list of document titles]]

Act as a senior underwriter. My firm's risk appetite for [[line of business, e.g., General Liability for contractors]] is attached. Please review the following summary of a [[redacted]] new business submission and identify any characteristics that fall outside our stated appetite or require special consideration. My firm's appetite: - No more than 25% of work is residential. - No work on buildings over 5 stories. - No wrap-up / OCIP projects. - Must have been in business for at least 3 years. Submission summary: [Paste a redacted summary of the applicant's operations, e.g., "Applicant is a framing contractor, 5 years in business. 40% of recent work has been on residential multi-family projects up to 7 stories. Has one OCIP project on the books for next year."]

Please draft a professional and courteous email to an insurance broker declining to quote a submission. The reason for declination is that the applicant's operations fall outside our underwriting appetite for [[specific reason, e.g., 'residential construction exposure']]. The email should be polite, thank the broker for the opportunity, and express interest in seeing other business from them that fits our appetite. Do not include any specific details about the applicant.

I have an inbox full of emails from brokers. Please categorize the following email subjects into three buckets: 1. **New Business Submissions:** Requiring full review. 2. **Endorsement/Change Requests:** Requiring processing on an existing policy. 3. **General Inquiries:** Questions that need a response. Email subjects: [Paste a list of email subject lines, e.g., "FW: New GL/Auto Submission - ABC Construction", "Bind Order Request - Policy #12345", "Question on XYZ Corp Renewal", "Can you write a car wash?"]

I am analyzing a renewal for a client who currently has our [[Policy Form A]] and is considering moving to [[Policy Form B]]. Please act as a coverage expert. I will provide the key coverage and exclusion sections from both [[redacted]] policy forms. Your task is to create a table that compares the key differences in coverage for: - [[Coverage part 1, e.g., Definition of "Insured"]] - [[Coverage part 2, e.g., Water Damage Exclusion]] - [[Coverage part 3, e.g., Notice of Claim provision]] Highlight which form provides broader coverage for the insured in each case. [[Paste redacted text from both policy forms]]

I have 5 years of [[redacted]] loss runs for a workers' compensation renewal. The data is in a messy format. Please extract and summarize this information into a clear table with columns for: Year, Total Incurred, Total Paid, Number of Claims, and a brief, one-sentence description of any claim over $[[threshold, e.g., 50,000]]. After the table, provide a 2-3 sentence summary of the overall loss trend. [[Paste redacted loss run data]]

Act as a compliance analyst. I am underwriting a [[type of risk, e.g., a restaurant with liquor service]]. My company's underwriting guidelines are provided below. Please review the [[redacted]] applicant information and create a checklist that shows whether the applicant meets, fails, or needs more information for each guideline. Guidelines: - Must have a fire suppression system over cooking surfaces. - Staff must have alcohol service training. - No history of liquor license violations. - Security plan required if open past midnight. Applicant Info: [Paste redacted applicant details, e.g., "Applicant is a 150-seat restaurant, open until 2 AM on weekends. Has a wet chemical fire suppression system. All servers complete TIPS training. No security plan mentioned in the application."]

I am preparing for an underwriting call with the broker for a complex [[type of risk, e.g., manufacturing]] account. Based on the initial [[redacted]] submission information below, generate a list of 10 specific, open-ended questions I should ask to better understand the risk, their safety procedures, and their quality control. Submission Info: [Paste redacted summary, e.g., "Applicant manufactures and imports widgets from an overseas supplier and distributes them to big-box retailers. They have a product recall plan but the details are vague."]

Using the structured data points provided below, write a 2-paragraph risk summary for an underwriting file. The summary should be objective and concise, suitable for a manager's review. It should cover the nature of the operations, the positive attributes of the risk, and the key concerns or exposures that need to be addressed in pricing or terms. Structured Data: - **Line of Business:** [[e.g., Commercial Auto]] - **Applicant:** [[e.g., Regional plumbing contractor, 15 years in business]] - **Fleet Size:** [[e.g., 25 vehicles]] - **Radius of Operations:** [[e.g., 100 miles]] - **Driver Vetting:** [[e.g., MVR checks annually]] - **Safety Program:** [[e.g., Telematics in all vehicles, monthly driver training]] - **Loss History:** [[e.g., One large liability loss 3 years ago, otherwise clean]] - **Concern:** [e.g., Vehicle usage includes emergency calls, raising nighttime driving risk]

A [[type of risk, e.g., retail store]] I insure has experienced several slip-and-fall claims in the past year. Based on this pattern, generate a list of 5 practical loss control recommendations I can suggest to the insured to help prevent future incidents. Frame them as helpful advice.

Please draft a letter to a broker outlining the subjectivities that must be met before coverage can be bound for a [[line of business]] policy. The subjectivities are: 1. Receipt of a signed wind mitigation report. 2. Confirmation that the fire alarm system is centrally monitored. 3. A copy of the contract with their main supplier. The tone should be clear, professional, and collaborative.

I need to explain to a broker why the "Fungi or Bacteria" exclusion is being added to their client's property policy. Please draft a simple, clear explanation (about 100 words) that I can use in an email. The explanation should avoid overly technical jargon and focus on the fact that this is a standard exclusion for un-mitigated water damage and mold, which is a common industry practice for this type of risk.

I have a 20-page property inspection report for a risk I am underwriting. I will paste the [[redacted]] 'Recommendations' and 'Key Deficiencies' sections. Please summarize the findings into a few bullet points, separating critical life-safety recommendations from standard maintenance suggestions. [[Paste redacted text from the inspection report]]

I need to have a difficult conversation with a broker about a non-renewal due to deteriorating loss experience. Let's role-play. I am the underwriter. You are the broker. I will start by explaining the situation. Your goal is to push back, ask for another chance, and question my data. I need you to help me practice responding calmly and sticking to the facts of the case. Start by responding to this: "Hi [[Broker Name]], I'm calling about the renewal for XYZ Corp. I'm afraid I have some bad news. We won't be able to offer a renewal quote this year.

I am preparing for the renewal of a large [[line of business]] account. The policy expires in 90 days. Please create a checklist of information I need to gather and actions I need to take. Include items like: - Requesting updated exposure information from the broker. - Analyzing the current term's loss experience. - Checking for any changes in the insured's operations. - Reviewing the current pricing against new rate-and-form filings.

I have a [[redacted]] spreadsheet of my current book of business, with columns for [[Policy Number, NAICS Code, Premium, Incurred Losses]]. Please act as a data analyst and describe the overall characteristics of my portfolio. I want to know: - What are the top 3 industries by premium? - What is the overall loss ratio for the book? - Are there any industry segments with a loss ratio significantly higher than the average? [[Paste redacted spreadsheet data]]

Based on the following [[redacted]] portfolio data, identify the top 5 policies that are the strongest candidates for a significant rate increase at renewal. Your criteria should be a combination of a high loss ratio over the past 3 years and a current premium that appears low relative to their exposure. List the policy IDs and a one-sentence justification for each. [Paste redacted data with columns for Policy ID, 3-Year Loss Ratio, and Current Premium/Exposure]

I have the expiring terms for a policy and the proposed renewal terms. Please create a table comparing the two, showing the changes in: - Premium - Limits - Deductibles - Key endorsements being added or removed Expiring: [[e.g., $100k premium, $1M limit, $5k deductible]] Renewal: [e.g., $120k premium, $1M limit, $10k deductible, new water damage exclusion added]

Please draft a short paragraph for a broker to share with their client, explaining why their [[e.g., Cyber]] insurance premium is increasing at renewal even though they have had no claims. The explanation should reference general market conditions, such as the increased frequency and severity of ransomware attacks across the industry and the rising cost of reinsurance for all carriers.

I have decided to [[decline/quote/bind]] a policy for [[redacted applicant ID]]. Based on the following summary of facts, please generate a concise, objective, and compliant entry for the underwriting file that documents the basis for my decision. The entry should reference the specific underwriting guidelines that were met or not met. Facts: - Risk: [[e.g., New venture restaurant]] - Guideline 1: Requires 3 years of management experience. Applicant has 10 years. (Met) - Guideline 2: Requires fire suppression system. Applicant does not have one. (Not Met) - Guideline 3: Location must not be in a flood zone. Location is in Flood Zone A. (Not Met) - Decision: Decline.

Act as a compliance officer. Colorado's SB 21-169 prohibits unfair discrimination based on protected classes in insurance. I am about to decline a risk. Please review my proposed declination reason below and flag if it could be perceived as a proxy for a protected class or otherwise be considered unfairly discriminatory. Reason for Declination: "The applicant's credit score is below our minimum threshold.

I used a generative AI model to help summarize a large submission file. I need to document this for my underwriting file to comply with the NAIC AI Model Bulletin. Please draft a short note for the file that states: - What tool was used (e.g., "Internal instance of a large language model"). - What task it was used for (e.g., "To summarize 50 pages of redacted loss runs"). - That no PII was entered into the model. - That I, the licensed underwriter, personally reviewed the AI-generated summary for accuracy and made the final underwriting decision based on my own judgment and the verified source documents.

I need to write a file note that another underwriter might have to read years from now. Please translate the following internal underwriting shorthand into clear, unambiguous language. Shorthand: "Sent to UW mgr for auth bc of TIV. Will need reins. support. Subj to survey." Clear Language: [Your output should be something like: "Referred to the underwriting manager for approval due to the Total Insured Value exceeding my binding authority. This risk will require facultative reinsurance support. Binding is subject to a satisfactory loss control survey."]

Imagine I am an insurer who has received a request from a state regulator about our use of AI in underwriting. Draft a template for a response that confirms our commitment to fair and compliant practices. The response should mention: - Our adherence to the NAIC AI Model Bulletin. - Our established AI governance framework. - The use of human oversight and judgment for all final underwriting decisions. - Our policy of not using AI to make binding decisions without a human in the loop.