# Planck

> AI platform for commercial insurance providing submission validation and underwriting recommendations

## At a glance

| Field | Value |
| --- | --- |
| Category | AI & Automation |
| Type | Solutions Provider |
| Region | NA |
| Headquarters | New York, NY |
| Founded | 2016 |
| Stage | Acquired |
| Employees | 51-100 |
| Funding | $71M+ (Acquired by Applied Systems, Jul 2024, ~$300M) |

## Overview

Planck is an AI platform designed for commercial insurance that offers solutions for submission validation and underwriting recommendations. Founded in 2016, the company transformed the commercial insurance data space by providing an AI-driven data platform with real-time insurance-related analytics insights.

The platform specializes in pre-filling the majority of answers accurately and quickly in ACORD forms to prevent fraud and mistakes, ultimately reducing loss ratios by making underwriting more efficient. Planck had approximately 80 employees with offices in New York and Tel Aviv.

In July 2024, Applied Systems acquired Planck for approximately $300 million. The Israeli company now forms the base for Applied Systems' AI Development Center in Israel, significantly expanding Applied's AI capabilities and accelerating their vision for the next generation of digital insurance.

## Products & services

### AI Data Platform

Commercial insurance data platform providing real-time analytics and insights.

**Key features:**

- Automated ACORD form pre\-filling
- Submission validation
- Business classification
- Risk profiling from external data

*Target users:* Underwriters, Submission Processors

### Underwriting Recommendations

AI-powered underwriting decision support.

**Key features:**

- Risk assessment recommendations
- Data\-driven underwriting insights
- Fraud prevention indicators
- Loss ratio optimization

*Target users:* Underwriters, Risk Managers

## Category & focus

- Subcategories: Underwriting Data, Submission Processing, Commercial Intelligence
- Insurance verticals: Commercial P&C
- Target customers: Carriers, MGAs, Wholesale Brokers

## Notable customers

- Nationwide \(strategic investor\)
- Hannover Re \(strategic investor\)
- Multiple commercial carriers and MGAs

## Links

- Website: <https://www.planckdata.com>
- Directory profile: <https://insurtechlist.com/companies/planck/>
- Linkedin: <https://www.linkedin.com/company/planck-re>
- Company page: <https://www.planckdata.com/company>

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*Last updated: 2026\-03\-25*