Abhijeet Kuray, Chief Technology Officer, Mosaic Insurance
What was your decision criteria?
What was the speed of deployment?
Matt Phillips, Chief Application Officer, Axis Capital
“We’re an insurance company and not in the business of developing these deep AI models ourselves. I don’t want to invest money in areas that will change or become obsolete, with mea we have a partner who are able to keep us up with the pace of change.”
“Today we have a team of people just capturing a subset of what’s in the submission and we get data quality issues. With mea we’re able to capture significantly more data, use what we need for clearance and store the rest of it for downstream analytics. With mea we have more data, more accuracy, better analytics, and less cost.”
“Our reality, from the first pass, has been much higher level of accuracy than we would have expected.”
What level of accuracy did you start with and how many fields?
How to think about accuracy in data extraction
How did it start?
Michael Reilly, Managing Director, Accenture
“In terms of AI risks, it depends what you’re using model to do – if you’re using it to make an underwriting decision that can be a problem, but mea is just reading and extracting what’s on the page and this isn’t where the regulatory concerns are.”
“This is the evolution that the industry has been waiting 300 years for – it’s the critical first step to being able to build a digital future.”
“What makes mea unique is that it was founded by insurance executives who understand the unique challenges involved in complex insurance documents… working with them does not require you to train their team on what insurance means.”
How to stay future proofed?
Did it work?
What are data benefits of automating?
How can you increase hit rates?
Philippe Gouraud, CEO Rising Edge
“mea works beyond expectations.. it has a match rate of 100% for core fields and is easy to implement.. we integrated it without any disruption”
What was your need?
What are the full benefits of data extraction?
What are the risks of using AI if it is a black box?
Chris Jackson, Managing Director Acquinex
“This collaboration with mea is a game-changer. By integrating mea’s platform, we are not only enhancing our operational efficiency, but also positioning ourselves as pioneers in the digital MGA space.”
Joti Harper, COO Acquinex
“The speed and ease with which mea’s platform integrated into our workflow is a testament to its robustness and the expertise of the mea team. This partnership has undoubtedly exceeded our expectations.”
Global COO, $30bn P&C Carrier
”It is amazing, I have never seen AI work like this, you were over 90% accurate from day one… my experience of other AI solutions is 20-30% accurate after months of work, what you have is totally different.”
Senior Underwriter, London Market Specialty Carrier
“Despite the AI confidence scores not being 100% I would say most of the data was spot-on at the first attempt which was really exciting.”
