AEGIS Selects expert.ai to Enhance Their Data Strategy with AI-based Natural Language Understanding
ROCKVILLE, Md., Dec. 16, 2020 /PRNewswire/ -- AEGIS has chosen 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. By applying the power of artificial intelligence to this information-intensive 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, SVP 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."
Tim Heinze, SVP and Chief Loss Control Officer at AEGIS adds: "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. 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."
About AEGIS
Associated Electric & Gas Insurance Services Limited ("AEGIS") is a leading mutual insurance company that provides liability and property coverage, as well as related risk management services, to the energy industry. Our 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. Our energy expertise, combined with a collaborative and fair approach to claims management and specialized loss control services, has set AEGIS apart from commercial insurance companies since the company was founded by its policyholder-members in 1975. The company's premium revenues are $1.8 billion and total assets are more than $7.9 billion.
For more information visit https://www.aegislink.com/
About expert.ai
Expert.ai is the premier artificial intelligence platform for language understanding. Its unique hybrid approach to NL combines symbolic human-like comprehension and machine learning to transform language-intensive processes into practical knowledge, providing the insight required to improve decision making throughout organizations. By offering a full range of on-premise, private and public cloud offerings, expert.ai augments business operations, accelerates and scales data science capabilities and simplifies AI adoption across a vast range of industries including Insurance, Banking & Finance, Publishing & Media, Defense & Intelligence, Life Science & Pharma, Oil Gas & Energy, and more. The expert.ai brand is owned by Expert System (EXSY:MIL), that has cemented itself at the forefront of natural language solutions, and serves global businesses such as AXA XL, Lloyd's of London, Zurich Insurance Group, Generali, Bloomberg BNA, BNP Paribas, Rabobank, Dow Jones, Gannett, IMF and EBSCO.
For more information visit www.expert.ai
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