Insurance Times Tech & Innovation Awards 2019
AXA XL has been announced as one of the finalists for the Tech & Innovation Awards 2019 in the category of Best Use of AI-Underwriting. Competing with other premier UK based insurance companies, AXA XL was selected as one of the most significant business enterprises using Artificial Intelligence.
AXA XL Risk Consulting has chosen to use Cogito®, the Expert System Artificial Intelligence platform, to identify the correct meaning of words and expressions in context and to understand the relationship between different concepts and entities. Through to the integration of Cogito, AXA XL’s risk consultants can extract the knowledge and insights from 100+ page engineering surveys within minutes, automating the arduous process of manually reading site survey reports through NLP (natural language processing).
Nicky Singh, Vice President of Sales, UK & Ireland at Expert System, commented: “Working with AXA XL is an honor for Expert System. The impact that Artificial intelligence is having on the insurance industry is self-evident: Artificial Intelligence is helping insurers dramatically reduce expense and enhance their business. With AXA XL we used an adoption-oriented approach, in order to enhance AXA XL Risk Consulting capabilities to manage low value tasks and serve clients, being more efficient.”