Xceedance launches Center of Excellence for Generative AI
Property/casualty insurance technology provider Xceedance has set up a Center of Excellence for Generative AI. The initiative aims to enhance investment in developing and introducing high-ROI generative AI use cases across the insurance value chain.
Xceedance believes as the insurance landscape contends with emerging risks like cyber threats and climate change, Generative AI will simplify identifying patterns and correlations within vast datasets, quickly unearthing deep insights and refining risk assessment models.
By harnessing the power of AI, Xceedance is poised to lead the way in redefining the insurance landscape, ensuring insurers can adapt and thrive in the evolving digital era, the company said.
Arun Balakrishnan, CEO of Xceedance, stated: “One of the most compelling advantages of Generative AI is its ability to expedite data processing, elevating insurance professionals from laborious, repetitive tasks to higher-value responsibilities. Xceedance is at the forefront of innovation, collaborating with several insurers and brokers worldwide to establish a sandbox environment for experimenting with Generative AI. This approach ensures motivated users gain exposure to Generative AI, enabling them to identify high-return use cases and fail fast, fostering technological exploration.”
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