Foresight Named A Celent Model Insurer for Digital and Emerging Technology

SAN FRANCISCO, CA, UNITED STATES, June 18, 2025 /EINPresswire.com/ -- Foresight Risk and Insurance Services (“Foresight)” a tech-enabled commercial insurance MGU, has been named a 2025 Celent Model Insurer in the category of Digital and Emerging Technology. The award recognizes Foresight’s forward-thinking initiative, “Project Lake House: Innovating Workers’ Compensation through the Centralization of Data, Industrialization of Processes, and Automation of Workflows.”

Founded in 2020, Foresight is a safety-focused commercial insurer that leverages cutting-edge AI, real-time data, and intuitive safety technology to predict and prevent workplace risks before they become claims. This recognition underscores their mission to modernize insurance, empowering brokers and policyholders with proactive insights and human-centered support.

“We’re honored to be recognized by Celent for how we’re employing cutting-edge tech to redefine commercial insurance,” said David Fontain, CEO at Foresight. “This award reflects our commitment to leveraging cutting-edge AI to improve underwriting intelligence and proactively keep workers safe. By analyzing expected versus actual claim outcomes (based on industry benchmarks and historical loss data), we estimate that our safety-first approach has helped prevent over 1,300 workplace injuries since launching. Meanwhile, our self-learning systems continually evolve to better understand and mitigate risk, all to ensure every worker returns home safely.”

As part of the Project Lake House initiative, Foresight leveraged IntellectAI’s Magic Submission to transform how loss run data is ingested and structured across submissions. By automating the extraction and normalization of unstructured claims data, Magic Submission enables Foresight to digitize and analyze account loss histories with speed and precision, fueling AI-powered risk profiling for underwriting decisions and loss prevention.

“We’re proud to see Foresight recognized for their bold approach to transforming workers’ compensation,” said Banesh Prabhu, CEO of IntellectAI. “Their vision for modernizing workers’ compensation through data and AI is truly reshaping the industry. We’re thrilled that Magic Submission contributed to the success of their award-winning initiative.”

Celent’s Model Insurer Awards are judged based on three criteria: tangible business results, innovation relative to industry norms, and implementation excellence. Winning initiatives, such as Foresight’s, serve as benchmarks for how technology can drive real transformation in insurance.

“The Model Insurer Awards recognize how insurers are using technology to change the face of insurance,” said Keith Raymond, Senior Analyst at Celent. “These insurance carriers should serve as an inspiration to others looking for strong examples of best practice implementation that will have a truly meaningful impact on business results and the industry overall. The entry from Foresight clearly demonstrated this.”

About Foresight Risk and Insurance Services
Foresight Risk and Insurance Services is a safety-focused commercial insurer powered by cutting-edge AI and data analytics. Foresight leverages proprietary predictive models to proactively identify and mitigate workplace hazards before they become claims. By combining technology with dedicated underwriters and hands-on safety advisors, Foresight streamlines underwriting, reduces losses, and builds a culture of continuous safety improvement.

About Intellect Design Arena Limited
Intellect Design Arena Ltd is an enterprise-grade financial technology leader, providing composable and intelligent solutions for futuristic global financial institutions across fifty-seven countries. Intellect’s revolutionary First Principles Thinking-based Enterprise Connected Intelligence Platform, eMACH.ai, is the most comprehensive, composable, and intelligent open finance platform in the world. With an impressive array of 386 microservices, 650 events, and over 2015 APIs, eMACH.ai enables financial institutions to design and deploy future-ready technology solutions that provide a significant global competitive edge.

With three decades of domain expertise, Intellect offers a full spectrum of banking and insurance technology products through four lines of business: Global Consumer Banking (iGCB), Global Transaction Banking (iGTB), IntellectAI, and Digital Technology for Commerce (iDTC). Intellect is a pioneer in applying Design Thinking and our 8012 FinTech Design Center, the world's first Design Center dedicated to Design Thinking Principles, underscores our commitment to continuous and impactful innovation, addressing the ever-growing need for digital transformation. We proudly serve over 325+ customers worldwide, supported by a diverse workforce of solution architects and domain and technology experts in major global financial hubs. For more information about Intellect, visit https://www.intellectdesign.com/

IntellectAI is an Insurtech Transformation Partner with contemporary AI and ML solutions, data insights triangulated from thousands of sources, and agile technology, data science, and consulting teams that take a strategic approach to tackling the biggest challenges for the industry. https://www.intellectai.com/na/

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Intellect Design Arena Ltd
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Email: nachu.nagappan@intellectdesign.com

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