Shepherd operates an online insurance platform tailored for the commercial construction industry, utilizing data analytics and AI to enhance underwriting speed and accuracy. By automating administrative processes, the platform reduces response times to an average of 12 hours and offers up to 25% premium savings for clients who implement advanced risk management technologies.
Funding
$22.3M 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.
CVFounders
Product
Problem
The commercial construction industry faces challenges with slow and inaccurate insurance underwriting processes, often leading to delays and inflated premiums. Traditional methods struggle to efficiently incorporate advanced risk management technologies implemented by clients, hindering potential cost savings.
Solution
Shepherd provides an online insurance platform tailored for the commercial construction industry, leveraging data analytics and AI to streamline underwriting and improve accuracy. The platform automates administrative tasks, significantly reducing response times and enabling faster policy issuance. By integrating with various risk management software and offering a curated app marketplace, Shepherd facilitates the adoption of safety technologies and provides premium discounts for clients who proactively manage their risks. This integrated approach allows for a more comprehensive assessment of risk profiles, resulting in potential premium savings and improved coverage terms.
Target Audience
Shepherd's primary customers are commercial construction companies and their brokers seeking efficient, data-driven insurance solutions and premium savings through proactive risk management.
Features
- AI-powered underwriting engine for rapid risk assessment and policy generation
- Integration with leading risk management software and telematics solutions
- Curated app marketplace offering tools for safety, compliance, and project management
- Automated credit system for clients utilizing advanced risk mitigation technologies
- Average response time of 12 hours for submissions
- Comprehensive coverage offerings including Primary Casualty (General Liability, Commercial Auto, and Workers’ Compensation) and Excess Casualty
- Platform onboarding and support for policyholders to maximize platform benefits