Lloyd’s signs AI deal

Post reports that Lloyd’s of London has teamed up Italian technology firm Expert System to bring artificial intelligence into the market.

Powered by Expert System’s Cogito platform, it is claimed the cognitive automation of claims management, contract integrity and customer interaction will bring measurable return on investment to reduces costs and ensure faster, more accurate processing at each step of the claims cycle.

Nicky Singh, vice president of UK & Ireland at Expert System said, ‘Artificial Intelligence is disrupting the insurance sector at an unprecedented rate.

‘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.’