Swiss Re signs up to AI-driven Natural Language Understanding technology Cogito
Swiss Re Group has partnered with Expert System to provide AI-driven Natural Language Understanding (NLU) technology Cogito.
The tie up will offer Swiss Re’s digital and analytics strategy deep knowledge and data accuracy throughout the value chain. The global reinsurer has already improved efficiency by automating certain tasks including assessing risk reports and claims evaluation.
Expert System said its technology uses “human-like comprehension” to make accessing information easier, faster and more accurate to allow insurers and reinsurers to “automatically read and precisely process vast quantities of data in a fraction of the time it would otherwise take”.
Michael Foehner, head of digital and smart analytics at Swiss Re, said: “Cogito allows us to reduce the time to production. Thanks to its out-of-the-box capability to understand natural language based on a unique knowledge graph, we have easily internalised and integrated natural language understanding into our ecosystem.
Marco Varone, President of Expert System, added: “Cogito’s market-proven offering helps insurers and reinsurers advance their business strategies, by leveraging our unique and extensive experience in the industry.”
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