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11th October 2017
Lloyd's signs up with Expert System for its first artificial intelligence application
In the first Artificial Intelligence rollout for the world's specialist insurance market, Lloyd's, Expert System has signed a worldwide agreement that enables cognitive automation powered by Cogito, transforming business processes to support the needs of market participants.
"Artificial Intelligence drives productivity by changing the way we benefit from data, and Lloyd's continues its history of innovation," said Craig Civil, head of Data Innovation, Lloyd's. "Expert System's cognitive applications help us to meet our strategic objective and evolve business models through new applications."
Expert System allows businesses to transform effectively by automating business processes and improving customer experience.
"Artificial Intelligence is disrupting the insurance sector at an unprecedented rate," said Nicky Singh, vp UK & Ireland, Expert System. "In a decade, a significant part of the insurance industry will be powered by AI. It is a reality that we need to embrace. We are proud that the world's largest insurance market is working with us to innovate through AI."
Lloyd's Trends(2,557 articles)