AEGIS selects expert.ai to enhance data strategy with AI-based natural language understanding
AEGIS has selected the expert.ai natural language platform to implement a risk engineering solution that will extract and analyze critical information from risk engineering reports during the property underwriting process.
AEGIS is a leading mutual insurance company that provides liability and property coverage, as well as related risk management services, to the energy industry. Its policyholders represent virtually the entire energy infrastructure in North America, including electric and natural gas utilities, related energy companies, oil & gas exploration and production companies, water utilities, and transmission & distribution companies.
expert.ai works with some of the largest organizations and government agencies throughout Europe, the Americas, and the Middle East, and offers patented AI technology and a unique hybrid approach to natural language, combining symbolic human-like comprehension and machine learning to address even the most complex unstructured information management use cases.
By applying the power of AI to the information-intensive underwriting process, AEGIS engineering teams will collect data more efficiently and comprehensively, enabling them to provide deeper insights to both underwriters and policyholders regarding key risk exposures and mitigation strategies.
“Artificial intelligence will continue to play a crucial role within AEGIS’s digital transformation program which aims to maximize our efficiency and increase our data analytics capabilities,” said Scott Schenker, senior vice president and chief information officer at AEGIS. “We’ve selected expert.ai for its ability to read, organize and extract relevant data so our team can be more efficient both in terms of managing repetitive tasks as well as better serving our policyholders.”
“Our first goal is to support our teams by improving and streamlining the process by which we extract, analyze and aggregate critical information during the property underwriting process," added Tim Heinze, senior vice president nd chief loss control officer at AEGIS. "In the course of evaluating and selecting an AI platform, expert.ai outperformed all of our evaluation criteria in terms of ensuring speed and efficiency while delivering the high-quality information needed to properly assess the risks of our policyholders and provide domain expertise based on the data collected.”
By automating the reading and extraction of relevant data from natural language texts, expert.ai offers a range of AI services to reduce risk, improve risk selection and pricing, and augment capacity for insurance carriers and brokers.
“We help insurers understand and extract the data they need from loss control and property reports, policies, renewals and submissions, at scale and more than four times faster than their standard,” said Michael Watt, vice president of insurance at expert.ai. “All of this is performed with maximum accuracy, ensured by expert.ai’s unique approach to mixing language understanding, a robust knowledge graph and machine learning. We are thrilled that AEGIS will leverage our NL platform to help support its policyholders and honored that AEGIS has selected expert.ai as a trusted AI partner for their digital transformation.”
The expert.ai brand is owned by Expert System. For more information, go to www.aegislink.com and www.expert.ai.