- Brexit-light at the end of the tunnel for UK financial services?
- Lloyd's announces aggregated market loss of £2bn for 2017-the first loss for six years
- London Market agrees a mandate to use electronic placement with a sliding scale by quarter
- ABI and leading UK insurers welcome a Bill to reform the law relating to whiplash claims and the way in which the personal injury Ogden Discount Rate is set
- Insurance Europe develops a template that could help companies meet the obligation under the General Data Protection Regulation(GDPR)
- The Institutes and the International Insurance Society(IIS) announce a strategic affiliation
- gradient A.I., a Milliman predictive analytics platform, now aids management of workers' compensation risk expired
- SSP Keychoice extends long-term relationship with RAC for a further five years expired
- Atradius reports a strong 2017 result expired
- IGI profit dips but 19% growth in GWP expired
- Ping An net profit up 43% in 2017 expired
- Liberty Mutual Specialty Markets appoints Hitchcock to new position of Paris-based Terrorism Underwriter with a European roving role expired
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."
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