Insurer Hiscox is piloting Eigen’s natural language processing platform, using its machine learning-based classification and extraction technology. The platform will enhance processing of unstructured qualitative data, improving the speed, accuracy and cost of data processes, as Hiscox currently inputs data by hand. The first automates parts of the claims process to drive faster response time to customers, while the second automates the quoting process in Hiscox’s London Market business, which will facilitate faster turnaround times for responding to brokers with a quote. Eigen’s platform will automate the claims process, shortening the response time to customers and speeding up the quoting process for brokers in Hiscox’s London market business. “Data science has become a key part of our business model over recent years,” said David Jones, CEO at Hiscox.
Insurer Hiscox is piloting Eigen’s natural language processing platform, using its machine learning-based classification and extraction technology. The platform will enhance processing of unstructured qualitative data, improving the speed, accuracy and cost of data processes, as Hiscox currently inputs data by hand. Eigen’s platform will automate the claims process, shortening the response time to customers and speeding up the quoting process for brokers in Hiscox’s London market business. “Data science has become a key part of our business model over recent years,” said David Jones, CEO at Hiscox.