Overview
Hammurabi is an AI underwriting platform for the medical stop loss insurance market, serving insurance carriers, managing general underwriters (MGUs), and self-funded employers. The platform is a division of Xchange Benefits LLC, a subsidiary of Octave Specialty Group (NYSE: OSG), and was formally launched as a distinct product in February 2026.
The platform applies proprietary neuro-semiotic models -- combining machine learning with complex systems science and public health analytics -- to predict employer health risk and generate stop loss pricing. It processes unstructured underwriting documents and produces competitive proposals with loss control guidance, reducing the traditional underwriting timeline from days to minutes.
Hammurabi was incubated at UC Berkeley SkyDeck and backed by accelerators including Plug and Play and InsurTech NY through four funding rounds. Its CODEX human intelligence augmentation system supports the underlying underwriting workflow and is positioned within the broader Octave Specialty Group portfolio targeting the USD 40B medical stop loss segment.
Products & Services
AI Medical Stop Loss Underwriting Platform
An underwriting automation platform built for the medical stop loss segment. The platform ingests unstructured plan documents and claims data, applies machine learning models to predict health risk at the employer level, and outputs pricing proposals with competitive benchmarks and loss control recommendations.
Key Features
- Employer health risk prediction using neuro-semiotic ML models
- Automated document ingestion and structured data extraction
- Stop loss proposal generation with pricing and loss control guidance
- Near-instant turnaround replacing multi-day manual underwriting cycles
Target Users: Stop loss carriers, MGUs, insurance producers and brokers
CODEX (Human Intelligence Augmentation System)
Hammurabi's proprietary human intelligence augmentation framework that enhances underwriter decision-making alongside AI-generated outputs.
Key Features
- Structured workflow for human-in-the-loop underwriting review
- Augments AI risk predictions with underwriter context and overrides
Target Users: Underwriters, carriers, MGUs
At a Glance
- Founded
- 2018
- Headquarters
- San Francisco, California
- Employees
- 11-50
- Funding
- Accelerator
Category & Focus
- Category
- Underwriting & Risk
- Subcategories
- Automated Underwriting Risk Scoring AI/ML Underwriting
- Insurance Verticals
- Health Group Benefits
- Target Customers
- Carriers, MGAs/MGUs, Brokers, Employers
Customers
- Old Republic Insurance (partner)
- MMC (partner/affiliate)
Links
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Last updated: 2026-06-16