Insurers are increasingly using AI and data to transform the way they operate. Laura Barkatz, Global Lead, Data Strategy, and Sandhya Petizon-Louis, Chief Operating Officer, APAC & Europe at AXA XL, shed light on how the company is applying cutting edge AI solutions to optimize every aspect of their business.
Artificial intelligence is increasingly becoming an integral part of the way many companies do business. At AXA XL, we are using AI across the insurance value chain – from enabling deeper risk understanding, to informing innovative insurance solutions, to streamlining operations and claims processing.
There is no doubt that AI is transforming the way businesses of all types operate today. In insurance, it is enabling automation and process efficiencies, while also unlocking new insights that enable improved decision-making at every stage of the process, from initial risk assessment and management, right through to risk transfer or claims.
AI is a vital part of our strategy to move from ‘payer to partner’ and protect what matters most for our clients. At AXA XL we believe that AI can enhance human decision-making by providing tools and insights that enable people to do their jobs more effectively and efficiently by focusing on the areas where they add higher value.
To facilitate that, we are developing an ecosystem of AI to help our clients and colleagues in a variety of ways. For example, our Digital Risk Engineer AI tools monitor the health of assets and buildings by capturing and intelligently processing data from connected systems like heating, ventilation and air conditioning. And our Opportunity Pipeline Management tool combines diverse data sources and historic performance metrics to highlight the best opportunities in brokers’ pipelines, so that our colleagues can proactively pursue them.
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