Shepherd offers specialty insurance capacity for commercial construction risks, leveraging an AI-powered underwriting platform to expedite decision-making and reduce response times. The company incentivizes risk management technology adoption, potentially lowering premiums by up to 25% and providing free software tools to manage operational expenses.
Funding
$13.5M 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
Commercial construction projects face challenges in obtaining specialty insurance capacity, often experiencing lengthy underwriting cycles and administrative inefficiencies. This can lead to delayed project starts and missed opportunities for cost optimization through risk management technology adoption.
Solution
Shepherd provides specialty insurance capacity for commercial risks by integrating a proprietary risk management software platform with AI-powered underwriting. This approach streamlines the decision-making process, significantly reducing response times from weeks to an average of 12 hours. By incentivizing the adoption of leading risk management technologies, Shepherd offers potential premium savings of up to 25%. The platform also includes free software tools designed to address common risk management pain points, thereby reducing operational expenses for clients.
Target Audience
The primary target audience includes commercial construction firms and project developers seeking efficient specialty insurance solutions and opportunities for cost reduction through technology integration.
Features
- Specialty insurance capacity for Primary Casualty, Excess Casualty, and Builder's Risk lines.
- Integrated risk management software platform with AI-driven underwriting capabilities.
- Automated underwriting workflow designed for expedited decision-making.
- Data partnerships that enable premium credits for clients utilizing specific technologies.
- A curated marketplace of technology partners offering discounts on risk management solutions.
- AI-powered compliance tools providing free software for insureds to manage risk.
- Claims data parsing utilizing Optical Character Recognition (OCR) for enhanced underwriting analysis.
- A web-based platform for managing insurance policies and accessing risk management resources.