Archipelago utilizes AI to digitize risk data for large commercial property owners, enhancing data quality and streamlining the preparation of Statements of Values (SOV). This technology reduces the time spent on data management, allowing clients to focus on strategic advisory and improve their overall risk resilience.
Funding
$72.4M 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.
Founders
Product
Problem
Preparing Statements of Values (SOV) for large commercial properties is a time-consuming process that often involves managing inconsistent and incomplete data, leading to inaccuracies in risk assessment and potential undervaluation of assets. Traditional spreadsheet-based methods are prone to errors and lack the sophisticated analytics needed to optimize insurance outcomes.
Solution
Archipelago provides an AI-powered platform that digitizes and enriches risk data for commercial property owners and insurance brokers, streamlining SOV preparation and improving data quality. The platform automates data collection, validation, and enrichment, reducing the time spent on manual data entry and analysis. By leveraging machine learning, Archipelago identifies data gaps, corrects inconsistencies, and provides tailored recommendations to improve the accuracy of property valuations and risk profiles. The platform also facilitates collaboration between brokers, clients, and underwriters, enabling seamless data sharing and real-time insights into property risks.
Target Audience
Archipelago targets insurance brokers, risk managers, and commercial property owners who need to streamline SOV preparation, improve data quality, and gain deeper insights into property risks.
Features
- AI-driven data validation and enrichment to improve the accuracy of SOVs
- Automated COPE (Construction, Occupancy, Protection, Exposure) prefill data integrations
- Hazard mapping and geocoding to visualize geographic exposure
- Outlier detection to identify and correct valuation discrepancies
- Document management capabilities to organize and link source documents to SOV data
- Analytics dashboards to showcase data improvements and visualize risk exposures
- Role-based permissions for secure access and collaboration
- Integration with third-party modeling platforms (RMS & AIR) and data providers (Verisk, CoreLogic)