Hiscox partners with AI startup Eigen to slash costs

Hiscox has teamed up with tech startup Eigen Technologies to speed up how internal data is processed and reduce costs. Two pilots are underway to test the suitability of Eigen's NLP (natural language processing) platform at addressing the challenges Hiscox faces with unstructured qualitative data. It will explore machine learning (ML) and extraction technology. Currently the global specialist insurer and underwriter for Lloyd's London relies heavily on manual data entry. It hopes to transform how data is managed.