Chelsea Avondale offers Skynet, an automated scientific underwriting platform that uses physics‑based hazard models, granular property data, and machine learning to assess each peril and policy individually. The real‑time, exposure‑based pricing engine enables property and casualty insurers to generate more accurate rates, lower loss ratios, and better portfolio construction.
Funding
$50.3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
MPFounders
Product
Problem
Property and casualty insurance pricing relies on grouping similar risks and using historical loss data, which leads to widespread mispricing of individual policies and inadequate assessment of low-probability, high-impact events such as wildfires, floods, and earthquakes.
Solution
Chelsea Avondale has created Skynet, an automated scientific underwriting platform that evaluates each peril and each policy independently using physics‑based hazard models, granular property data, and policyholder attributes. The system performs live, point‑of‑sale risk analysis to generate precise, exposure‑based prices rather than averages across geographic zones. By integrating catastrophe modeling, machine learning, and real‑time computation, Skynet delivers lower loss ratios while enabling insurers to offer more competitive rates to low‑risk customers. The technology is deployed in the group’s own carrier, Max Insurance, and is available for licensing or joint‑venture partnerships to extend scientific underwriting across markets.
Target Audience
Primary customers are property and casualty insurers seeking to improve underwriting accuracy, reduce loss ratios, and expand competitively priced product offerings.
Features
- Peril‑specific risk assessment that separates flood, fire, earthquake, and other hazards for each property
- Policy‑level analysis using detailed attributes of the insured, the building, and its location
- Physics‑based catastrophe models combined with machine‑learning to price events that have never occurred
- Real‑time pricing engine that runs at the point of sale, automating underwriting decisions
- Integration with policy administration systems to streamline issuance and claims handling
- Licensing and partnership options for insurers to adopt the Skynet platform in new regions