What Planck does

Planck is an AI-powered data and analytics platform purpose-built for commercial insurance underwriting, founded in 2016 and headquartered in New York with engineering operations in Tel-Aviv. The company addresses a core pain point for commercial carriers: the inaccuracy, incompleteness, and staleness of self-reported submission data for small and mid-sized businesses. Its platform ingests public data sources, applies proprietary AI trained specifically on commercial insurance risk patterns, and delivers real-time business classifications (covering all 1,012 six-digit NAICS codes), risk scores with confidence levels, and underwriting recommendations to carrier underwriting teams.

The product portfolio is organized around the Planck PLUS suite: PLUS Data (GenAI-powered underwriting data and classifications delivered via API and UI), PLUS Risk Workbench (a conversational underwriting workbench), PLUS Chat (a GenAI co-pilot allowing natural language underwriting queries), and Planck Enterprise (full lifecycle AI integration with collaborative development). Underlying technology combines multiple neural networks, generative AI, natural language processing, computer vision for analyzing business imagery, and predictive analytics — all trained on audited datasets to convert intermediate insights into final underwriting predictions.

Planck monetizes through enterprise SaaS subscriptions sold via direct enterprise sales and API integration, with the Enterprise tier on multi-year contracts. Customers include top US commercial carriers such as Chubb, AIG's Attune, Berkshire Hathaway GUARD, Great American Insurance Group's Republic Indemnity, and Hospitality Insurance Group, plus Australian carriers CGU and NRMA via IAG. Following acquisition by Applied Systems in July 2024, the company is extending AI capabilities to the agency and broker distribution side of the insurance market through Applied's installed base.

Name

Planck

Legal name

Planck

Website

http://planckdata.com

Company type

Private

Founded year

2016

Operating status

Acquired

Headcount range

51–100 employees

Short description

Planck provides an AI-powered underwriting data and risk assessment platform for commercial insurance carriers, offering real-time NAICS-based classifications, GenAI conversational underwriting, and API-integrated risk insights. Acquired by Applied Systems in July 2024.

Ownership category

akta.pro rank

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Enterprise SaaS Subscription: Planck provides an AI-based data platform for commercial insurance as a B2B SaaS solution. Carriers pay for access to the platform's underwriting insights, classifications, and risk assessment capabilities. Pricing appears to be subscription or usage-based with enterprise contracts.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Planck provides an AI-powered data and analytics platform for commercial insurance underwriting, delivered through its Planck PLUS suite. The platform generates real-time business risk insights, NAICS classifications, and underwriting recommendations from public and proprietary data sources, and exposes these to carrier underwriters via API, UI, and a GenAI conversational workbench. It is sold to enterprise insurance carriers as a B2B SaaS subscription.

Product overview

Planck provides an AI-based data platform for commercial insurance underwriting, now part of Applied Systems following acquisition in July 2024. The product portfolio is organized around Planck PLUS (a collection of modules including PLUS Data for GenAI-powered underwriting data and classifications, PLUS Risk Workbench for the interactive underwriting workbench with conversational AI, and PLUS Chat as the GenAI conversational interface within the workbench) and Planck Enterprise for large-scale deployments with collaborative development capabilities. Additional use-case features include Submission Prefill, Underwriting Recommendations, Policy Monitoring, and Renewal Recommendations. The platform uses proprietary AI models trained specifically for commercial insurance to generate real-time insights, risk assessments, and business classifications from multiple data sources including visual analysis.

Differentiator

Problem solved

Functional benefit

Brands

• Planck PLUS: A collection of AI-powered solutions for commercial insurance underwriting, including PLUS Data (GenAI underwriting data solutions with API integration, reliable classifications, and thousands of insights), PLUS Risk Workbench (GenAI-powered underwriting risk workbench with chat capabilities), and Planck Enterprise (enterprise-level GenAI underwriting integration).
• PLUS Chat
• PLUS Risk Workbench
• PLUS Data

Products and services

• PLUS Data GenAI-powered underwriting data solution providing reliable business classifications (NAICS codes), thousands of pre-trained insights across commercial insurance lines, and customizable data aligned to the carrier's own risk definitions. Delivered via API and UI and intended for commercial insurance underwriters and product teams that need accurate, real-time business risk data.
• PLUS Risk Workbench GenAI-powered underwriting risk workbench with a ChatGPT-style conversational interface (PLUS Chat) that lets underwriters ask specific underwriting questions, inspect the reasoning and supporting data behind insights, and standardize/automate underwriting decisions. Targeted at commercial insurance underwriting teams seeking to streamline submission-to-bind workflows.
• Planck Enterprise Enterprise-level GenAI underwriting offering that includes collaborative development with Planck's Data Science & Development teams, full access to PLUS Data and PLUS Risk Workbench, and custom GenAI capabilities built for the entire policy lifecycle (lead generation, underwriting, renewals, exposure management). Sold to large commercial insurance carriers on multi-year contracts.

Quantifiable outcome

• Over 90% accuracy of data
• +4 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability7 records

Feature5 records

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Emerging players

• Tarmika: Commercial insurance comparative rating and quoting workflow platform for independent agents and carriers. Tarmika focuses on small commercial lines submission and rating automation, partially overlapping with Planck's submission prefill capabilities.
• Socotra: Cloud-native insurance core system platform serving insurers with modern policy administration, underwriting, and billing capabilities. Socotra provides modern infrastructure that insurers may use to build or integrate AI underwriting tooling alongside or instead of third-party platforms like Planck.

Direct peers

• Convr: AI-driven commercial insurance underwriting workbench that digitizes and automates submission intake, risk scoring, and decisioning for commercial lines carriers. Convr targets the same commercial insurance underwriting workflow as Planck's PLUS Risk Workbench.
• Cape Analytics: AI-based geospatial property intelligence platform for insurance underwriting and risk assessment, using computer vision and aerial imagery. Cape Analytics overlaps with Planck's commercial property risk assessment capabilities and shares a computer vision approach to risk data.
• Akur8: AI-powered insurance pricing platform for property & casualty insurers, automating rate-making and underwriting risk modeling. Akur8 competes in the commercial insurance AI space with a focus on pricing rather than submission data enrichment.
• Cytora: AI-powered risk data platform for commercial insurance underwriting, providing digital risk insights from public and proprietary data sources. Cytora is the most directly comparable competitor to Planck in commercial underwriting AI, and was acquired by Guidewire in 2023.
• Betterview: Property intelligence and risk analytics platform for insurance, leveraging aerial imagery and AI to support underwriting and portfolio monitoring. Betterview serves similar commercial property carrier customers as Planck.

Broad incumbents

• Duck Creek Technologies: Cloud-based core system provider for P&C insurers offering underwriting, policy administration, billing, and claims solutions. Duck Creek serves the same commercial insurance carrier customers that Planck sells into.
• Guidewire: Leading insurance software platform providing core systems, underwriting, and claims solutions to P&C insurers, and acquirer of direct competitor Cytora in 2023. Guidewire is a broad incumbent whose insurance core system footprint gives it distribution advantage for embedded AI.
• Verisk: Major data analytics and technology provider to the insurance industry, offering underwriting data, claims analytics, and risk assessment across personal and commercial lines. Verisk is the broad incumbent insurance data provider that Planck competes against for carrier spend.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/planckdata
• Facebookfacebook.com/planckresolution
• LinkedInlinkedin.com/company/planckdata

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds5 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Planck