RISR Releases AI-Powered Tool to Support Business Planning
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RISR is launching an artificial intelligence (AI)-powered document analysis and risk management module, designed to give advisors actionable intelligence from key risk documents including buy-sell agreements and insurance policies.
“Advisors know business owner clients are a major growth opportunity and need ways to demonstrate their value from the first conversation,” said Jason Early, founder and chief executive officer of RISR. “With the ability to uncover hidden risks surrounding the business in minutes, advisors are building deep trust with owners from day one.”
Advisors will be able to upload buy-sell and insurance documents, and the platform identifies potential risks to an owner’s equity in the event of death, disability or dispute.
The platform also generates plain-language summaries for each document, along with key provisions, risks and recommended next steps. A cross-document analysis layer identifies inconsistencies, such as conflicts between a will and a buy-sell agreement, while a “Next Best Document” feature guides advisors on which documents to request next based on gaps in the analysis.
“We believe it’s our job to unlock the power of AI for advisors looking to bring new services to business owners in a reliable and effective way,” said Alex Michaels, head of product at RISR. “Advisors get the power of an advanced planning desk behind them, and owners get protection from potentially critical exposures.”
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with nearly a decade of experience and a passion for telling stories and reporting news.