SECTOR

Artificial Intelligence in Insurance

The latest Machine Learning techniques applied to the most valuable use cases.

The insurance market is rapidly evolving.

Providers are integrating AI to take advantage of an explosion of data emerging from connected devices, smart cities and the changing relationships between humans and their technologies.

Keeping up with the advancements in AI is essential. It doesn’t just affect the bottom line, it affects the lives of millions. If you don’t do it now, your competitors and a new wave of Insurtech startups will.

Mind Foundry can help every step of the way.

We will bring you a world-class AI platform and a team that's experienced in solving some of the most challenging applications in insurance with cutting-edge methods in AI. Our partnerships and our product will allow you to integrate AI and machine learning into your business for true transformation.

The world is changing. Mind Foundry can help you change with it.

Our unique approach to insurance is based on three pillars.

First Principles Transparency

Insurance is a highly regulated market, and as such, your decisions must be interpretable and justifiable. Your customers deserve to understand your decision process, and they will thank you for it. Let us transform your business with a fully transparent AI system that speaks your language.

Human AI Collaboration

Your domain expertise is vital, and without it we won’t solve your problems. Our AI engine works alongside your pricing managers, claim handlers, underwriting operatives and their teams to scale their performance and deliver immense time and cost savings.

Continuous Meta-learning

Your competitors are after the same customers as you. Maybe your existing models are outdated and difficult to replace. Mind Foundry's Platform continuously learns from data, detecting drift and reacting to market changes as needed. You’ll never need to replace a model again.

Learn more about our values.

Machine Learning solutions for insurance

Drawing on world-leading AI expertise, Mind Foundry creates solutions rooted in an in-depth understanding of the latest ML technologies to improve multiple aspects of insurance, from improving existing solutions in terms of speed and accuracy, to automating processes with intelligence, freeing up human time to solve more creative challenges.

Fraud Detection

Insurance fraud is changing, with fraudsters adapting to more advanced detection systems. Medium and small value fraudulent claims are just as time-consuming to process as larger ones and add up to significant losses every year. Our platform uses natural language processing (NLP) with an advanced machine learning decision engine to ensure your organisation can process claims at speed, requesting your intervention only when strictly needed.

Read about our work in Fraud Detection.

Enhanced Pricing

Our AI platform can help you better understand your customers, providing you with more informed and accurate pricing decisions. Our methods replace established but dated algorithms to provide more accurate risk estimates while retaining the level of transparency and interpretability necessary to meet regulatory requirements.

Read our case study on Enhanced Pricing.

AI for Telematics

Wide-scale adoption of telematics is on the rise and AI is making them more valuable than ever. Combining AI with the data produced from telematics allows for real-time crash detection alerts that help insurers dispatch emergency services when every second matters.

Telemetry data can also reveal patterns in driving behaviour that can help insurers improve their risk and price modelling and incentivize drivers to make the roads safer for everyone.

Read our case study on Driving Behaviour Classification.

Driving Behaviour

With telemetry data, we can now profile each individual's driving behaviour and advise them on best practices on the road, safest routes and improvements they can make to save money on their policy. We can detect the latest driving trends, for example, those of Uber drivers or delivery drivers, to determine if policies are being used as intended.

quote

Our collaboration demonstrated the quality and power of the Mind Foundry Platform and its world-class talents who enhanced our machine learning capabilities. Now we are embarking on an ambitious project to transform our entire insurance operation on a global scale to lead the rapidly evolving mobility insurance sector by joining forces with Mind Foundry.”

Jun Ikegami

Executive Manager - Telematics Projects at ANDI Europe

A Trusted Partner

Collaboration is vital for ensuring a successful AI integration within your organization, especially in a highly competitive and constantly evolving market like insurance.

We are here to help you along your digital transformation journey with a powerful AI Platform, custom AI solutions, and instructor-guided access to an educational curriculum that will prepare your entire team for transformation.

PRODUCT

Mind Foundry Platform

Develop, deploy, monitor and maintain AI systems that integrate multiple data sources, Machine Learning models and people throughout an organisation.

Learn more.

Service

Applied Machine Learning

At Mind Foundry we understand that every customer’s problem and infrastructure is different. Our team of Machine Learning scientists and engineers will help you customize your solution every step of the way.

Learn more.

Education

Machine Learning in Insurance Certification

Grounded in our Oxford University
heritage, education is key for us. We
offer a range of certifications for data
analysts, data scientists and
business executives, covering a
range of different learning methods
from distance learning to in-person
classes, at all experience levels.

Learn more about Mind Foundry Academy.

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Unlock your AI potential

Contact our Insurance specialists to learn more about working with Mind Foundry.

Mind Foundry Ltd
Ewert House, Ewert Place
Oxford, OX2 7DD

+44 1865 649755
info@mindfoundry.ai

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