Collaboration Announced Between mea Platform and The Hartford
The Hartford Streamlines Insurance Workflows with mea Platform's AI
The Hartford, an innovative insurer, has partnered with mea Platform to enhance its operations with AI that is tailored to the insurance industry. The collaboration has led to significant improvements in efficiency, particularly in the Wholesale Property business and underwriting document processing.
In a pilot program, mea Platform's AI successfully classified approximately 100,000 new business submission emails for Navigators, a brand of The Hartford. This automation has resulted in a 20-minute average reduction in underwriting document handling time per case.
The heart of mea Platform's solution lies in its proprietary insurance domain-specific Language Model (dsLM) and agentic AI deployments. These technologies automate critical insurance workflows such as submissions processing, claims handling, and risk placement. They offer rapid, scalable deployment and immediate operational impact.
Encouraged by the success of the pilot, The Hartford is expanding mea Platform's capabilities to additional use cases. The firm aims to further streamline its operations, improve customer experiences, and boost employee productivity.
The Hartford currently has several hundred AI models in production, driving business results, enhancing agility, and accelerating decision-making. This AI-driven innovation is part of a broader strategy aimed at achieving quicker quotes (75% of quotes bound within minutes), improving combined loss ratios, and better risk assessment and underwriting accuracy with AI tools.
Beyond The Hartford, mea Platform is partnering with other industry players to revolutionize underwriting efficiency and enhance underwriting productivity. Sollers Consulting and mea Platform are collaborating to improve digital capabilities in underwriting and claims, with a focus on the Lloyd's and London market. IQUW is partnering with mea to implement their advanced processing platform, while Acquinex is using mea's platform to automate their submissions processing, aiming to increase compliance scrutiny and speed up feedback.
In summary, the expansion of mea AI capabilities at The Hartford impacts insurance workflows by automating document classification and key information extraction, enabling faster processing times, enhancing operational scalability and decision-making speed, expanding AI usage into claims and risk placement processes, and supporting The Hartford’s strategic goals of improving customer experience, boosting small business premium growth, and increasing overall underwriting efficiency.
[1] The Hartford Press Release, "The Hartford Expands Use of mea Platform's Generative AI Capabilities for Underwriting Document Processing," 2021. [2] The Hartford Press Release, "The Hartford Achieves Quicker Quotes and Improved Combined Loss Ratios with AI Tools," 2022. [3] The Hartford Press Release, "The Hartford Boosts Small Business Premium Growth with AI-Powered Underwriting," 2023.
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