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New AI-powered cyber underwriting firm launches

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Envelop Risk, a new global specialty cyber insurance analytics and underwriting firm, has been launched in London. The firm also operates offices in Boston, Washington DC, and Bermuda. Envelop Risk provides cyber underwriting to re/insurers, partnering with cyber security firms to deliver custom cyber insurance products for their customers. Using its proprietary artificial intelligence-based simulation model the company claims to provide "more-accurate policy and portfolio pricing with increased access to capital markets, while reducing overall risk exposure". Envelop applies an augmented intelligence approach, combining quantitative methods with human expertise in underwriting and cyber security.


Munich Re launches automated underwriting tool

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Munich Re Automation Solutions Ltd has launched an automated underwriting solution for the global mid-tier insurance market, known as'Allfinanz Spark'. According to a statement from Munich Re, Spark is a software-as-a-service (SaaS) solution that allows mid-tier firms to automate their underwriting processes and helps them explore valuable new opportunities, and enhance their customer experience for life insurance. "By offering auto-underwriting and analytics on a SaaS model, we are removing many of the upfront costs and implementation barriers to entry that mid-tier firms face, while providing the full power of our enterprise application," said Declan O'Neill, EVP for product & data at Munich Re Automation Solutions. "As a result, they can automate and accelerate customer onboarding, eliminate error-prone paperwork, repetitive questions and medical tests, and bring the power of analytical insights to their underwriting business. This means a more responsive, more agile business. Our customers who have already deployed Spark on a SaaS basis have reported substantial improvements in client satisfaction as a result."


Munich Re introduces automated underwriting tool

#artificialintelligence

Munich Re Automation Solutions Ltd has launched an automated underwriting solution for the global mid-tier insurance market, known as'Allfinanz Spark'. According to a statement from Munich Re, Spark is a software-as-a-service (SaaS) solution that allows mid-tier firms to automate their underwriting processes and helps them explore valuable new opportunities, and enhance their customer experience for life insurance. "By offering auto-underwriting and analytics on a SaaS model, we are removing many of the upfront costs and implementation barriers to entry that mid-tier firms face, while providing the full power of our enterprise application," said Declan O'Neill, EVP for product & data at Munich Re Automation Solutions. "As a result, they can automate and accelerate customer onboarding, eliminate error-prone paperwork, repetitive questions and medical tests, and bring the power of analytical insights to their underwriting business. This means a more responsive, more agile business. Our customers who have already deployed Spark on a SaaS basis have reported substantial improvements in client satisfaction as a result."


How Personalization can Aid Insurance Underwriting

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FREMONT, CA: The insurance industry is increasingly incorporating technology-driven solutions to address many of its challenges. Underwriting solution is one such aspect of the insurance sector that is benefitting highly from innovations such as artificial intelligence (AI), improved data analytics solutions, and others. When it comes to underwriting, insurance firms are eyeing solutions that can serve the particular interests of individual customers. Personalization of insurance underwriting has the potential of revolutionizing the industry.


AI, Algorithms, and E-Discovery

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Last week, hosts Jim Calloway and Sharon Nelson talked to Andrew Arruda, the CEO of ROSS Intelligence, about how artificial intelligence can assist lawyers, not replace them. They also discussed the biggest misconceptions about AI. Recorded at ABA TECHSHOW 2017, this episode of The Un-Billable Hour focuses on litigation finance underwriting for commercial cases. Joshua Lenon, lawyer-in-residence for Clio, and Eva Shang, founder of Legalist, discuss how Legalist, a service dedicated to financing litigation underwriting, works and how it integrates with Clio. They discuss the different e-discovery products available, sanctions, and discovery interactions with social media.