Norm Ai, a company specializing in artificial intelligence for legal and compliance applications, has launched a new solution aimed at easing the arduous process of responding to Due Diligence Questionnaires (DDQs) and Requests for Proposals (RFPs). This platform is designed specifically for financial services and insurance institutions, allowing them to generate accurate, source-verified answers and respond more efficiently to complex questionnaires.
The new AI-driven platform extracts answers directly from approved firm materials, significantly reducing the manual effort typically involved in these resource-intensive workflows. Traditionally, completing a single questionnaire has demanded input from multiple contributors across various departments, including finance, compliance, and operations. Senior reviewers often find themselves spending excessive time on formatting and minor edits instead of focusing on strategic oversight. The existing systems primarily aid in searching past responses or generating draft text; however, they fall short in ensuring that the answers are current, accurate, and validated against official sources.
To address these challenges, Norm Ai centralizes institutional knowledge, enabling teams to pull answers from this centralized repository. For each question posed, the platform identifies relevant approved sources, generates a contextually grounded response, and meticulously tracks edits and approvals from draft to final submission. This systematic approach not only streamlines the workflow but also enhances the reliability of the responses provided.
Founder and CEO John Nay emphasized the importance of trust in AI outputs, particularly in high-stakes environments. “Using AI in high-stakes workflows only works when teams can trust the output,” Nay stated. “Norm is built with human judgment at its core, grounding answers in approved sources, firm standards, and reviewer decisions so that judgment is applied consistently.” This approach aims to transform how organizations manage DDQs and RFPs, ensuring both accuracy and compliance.
The platform boasts several key features aimed at optimizing the response process. A centralized answer bank allows organizations to store every approved response in a governed, versioned repository. This facilitates easy access to institutional knowledge while maintaining ownership, expiration dates, and policy tags, creating a reliable source of truth. AI agents are employed for question extraction and intent recognition, interpreting each question’s nuances and prioritizing responses drawn from the answer bank based on context.
When a direct answer is not available, the system generates responses using approved data, complete with citations and clear rationale. This evidence-based drafting ensures that every line of the response can be traced back to verified sources. Furthermore, the platform allows teams to link new questionnaires to previously approved versions, enabling the automatic carryover of validated answers. This not only minimizes rework but also ensures consistency across future submissions.
Continuous learning is a fundamental aspect of the platform. Feedback from reviewers is accumulated over time, enhancing the accuracy of responses and reinforcing institutional precedents. As a result, organizations can expect faster and more consistent answers in subsequent cycles of questionnaires. The system also includes flexible export options, allowing completed documents to be returned to their original formats, such as Word or Excel, with all citations and version history intact.
As organizations increasingly turn to AI to streamline operations and improve accuracy, the launch of Norm Ai’s platform represents a significant advancement in how financial institutions handle DDQs and RFPs. The integration of AI into these workflows not only reduces manual labor but also enhances the reliability of responses, laying the groundwork for a more efficient and compliant future in the financial sector.
