We’re proud to announce that Hiscox’s generative AI-enhanced lead underwriting model enabled by Google Cloud is now live. Following a successful proof of concept, the new underwriting model, the first-of-its-kind in the London insurance market, is now delivering market-leading insurance quote times for sabotage and terrorism risks. Kate Markham, Hiscox London Market CEO, said: “We were really excited by the potential shown by the proof of concept, so to see it now making a tangible impact on our business – starting with sabotage and terrorism – is fantastic. The efficiency delivered is testament to the outstanding collaboration between Hiscox and Google Cloud. It proves that by bringing teams together and harnessing technology, we can deliver tangible benefits for customers, while freeing up our underwriters from manual tasks and allowing them to focus on more complex risks where human expertise is critical.” Read the press release here: https://lnkd.in/ej3PcFie
Richard Holling
2mo
Interesting
Co-Founder at ClaimMentor | Revolutionizing Claims with AI
2moThrilled to see Hiscox and Google Cloud pioneering generative AI in underwriting! This first-of-its-kind model in the London insurance market is a significant step forward in delivering faster, more efficient insurance solutions. It’s exciting to witness how technology can transform our industry. At ClaimMentor.com, we're inspired by your dedication to leveraging technology to enhance customer experiences and empower professionals to focus on what truly matters. #Innovation #Insurance #AI #Underwriting #claims