Markel has partnered with mea Platform to enhance the accuracy of its underwriting procedure by utilising machine learning.
The collaboration will leverage mea’s advanced AI solutions to improve the efficiency and accuracy of Markel’s underwriting procedure through the use of natural language processing and machine learning, according to the Coverager.
mea Platform’s technology extracts unstructured data from submission documents and converts it into structured data, facilitating easy analysis and interpretation.
This collaboration is part of Markel’s broader strategy to integrate advanced technology into its operations to enhance service delivery.
By incorporating mea Platform’s AI capabilities, Markel aims to provide a more efficient and faster service to its clients and brokers, thereby improving overall customer satisfaction.
Markel is renowned for offering a wide range of speciality insurance products, catering to various industries and markets.
The company’s focus on innovation and customer service has established it as a key player in the insurance sector.
Martin Henley, CEO at mea platform said, “We are very excited to embark on this new partnership with Markel and are looking forward to what we can achieve together. This agreement is a testament to our mutual commitment to providing transformative solutions and exceeding our clients’ expectations.”
Carys Lawton-Bryce, International Chief Operations Officer at Markel, added, “Technology transformation is at the forefront of our strategic ambitions at Markel. Our ability to leverage the type of AI technology that mea platform brings, will enable us to provide better, more efficient and speedier service for our clients and brokers.”
Keep up with all the latest FinTech news here
Copyright © 2024 FinTech Global
