AXA XL chooses AI platform for risk
AXA XL Risk Consulting has inked a deal with Expert System to use its cognitive computing software Cogito to assist with property survey assessment.
Using Cogito allows AXA XL risk consultants to gain insights from engineer surveys, which can be hundreds of pages, in minutes, by using computer vision to read them.
"Our risk engineers deal with an increasing amount of data; a trend that keeps accelerating. As a result, the industry is turning to technology to help analyze it. Delivering enhanced data and analytical capabilities, both internally and externally, is an essential element of our journey, and the work completed in partnership with our Risk Consulting team and Expert System adds to the AXA XL tool kit," says Steven Walden, Director of Strategy Operations for Global Property at AXA XL.
AXA says its use of AI has been on the rise, since it has been working with a number of AI start-ups through its Accelerate and Digital teams. "By adopting AI based capabilities, AXA XL Risk Consulting can enhance its risk modelling capabilities, be more efficient in the management of low value tasks, and ultimately better serve clients," says Corinne Vitrac, Chief Executive Officer of AXA Matrix.