AI use case

Accelerating insurance underwriting

by
Hiscox
Context

Hiscox used BigQuery and Vertex AI to create the first AI-enhanced lead underwriting model for insurers, automating and accelerating the quoting for complex risks.

Results

Reduced quoting time from three days to a few minutes.

Results not reported in the source
Industry
Insurance
Region
Europe
Published
September 24, 2024
Agent type
Employee Agents
AI provider
Google
Models/tools
Not disclosed
ICE score
280
The ICE framework in this database provides a quick way to assess the feasibility and potential impact of AI use cases, with higher scores signaling more actionable opportunities.

Impact: Potential benefits to the business.

Confidence: Likelihood of achieving expected results.

Ease: Simplicity of implementation in terms of resources and time.

ICE Score: Calculated by multiplying the component scores.

Note:
Each score is AI-generated based on available data and should be viewed merely as a general guideline for deeper exploration of the use cases.
Impact
8
Confidence
7
Ease
5

4

AI use cases in

Insurance

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180 Seguros

Insurance
Data Agents
Quick win
Use case
Improving operational metric tracking
Context

180 Seguros is powering its data management platform for employees with Google Cloud AI and BigQuery.

Models/tools

Nsure.com

Insurance
Use case
Automating customer service
Context

Nsure.com uses Copilot Studio to create custom AI copilots that automate up to 90% of incoming customer requests, such as handling insurance quotes, payments, renewals, and discounts.

Models/tools

Generali Italia

Insurance
Data Agents
Quick win
Use case
Streamlining model evaluation and deployment
Context

Generali Italia, Italy's largest insurance provider, used Vertex AI to build a model evaluation pipeline that helps ML teams quickly evaluate performance and deploy models.

Models/tools
Explore industries

128

companies using

Employee Agents

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Use case
Slow advisor information retrieval
Context

Morgan Stanley integrated GPT-4 and Whisper from OpenAI into their workflows, including an internal chatbot and meeting summary tool, enabling financial advisors to quickly retrieve firm knowledge, generate summaries, and provide timely, tailored client insights.

Models/tools
...
2
Use case
Democratizing AI access
Context

BBVA, a global financial institution, widely adopted ChatGPT Enterprise, creating over 2,900 custom GPTs within five months. By integrating ChatGPT into various departments, BBVA empowered its 125,000 employees to develop tailored AI solutions that enhance efficiency, spark creativity, and streamline workflows. This democratized AI access enabled rapid prototyping, reduced project timelines from weeks to hours, and facilitated the sharing of expert knowledge across the organization.

Models/tools
...
2
Use case
Automate sales workflows
Context

Rox, a sales platform, integrated OpenAI’s GPT-4o, GPT-4o mini, and Realtime API into their system to create a three-tiered AI-powered assistance platform. This includes data unification, complex reasoning, and interaction layers, enabling the Rox Agent Swarm to automate repetitive tasks and provide actionable insights, increasing sales reps' productivity by 50%.

Models/tools
...
3
Explore agents

196

solutions powered by

Google

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Use case
Streamline communication & document creation
Context

Hydro Ottawa, a major electricity provider for Canada’s capital, implemented Google Workspace and Gemini to improve collaboration, create job posts, conduct legal and technical research, write policies, generate content, summarize documents, and organize meeting agendas across all teams.

Models/tools
...
1
Use case
Improving accessibility for students
Context

Pepperdine University uses Gemini for Google Workspace to enhance accessibility and collaboration across campuses. Faculty leverage generative AI for custom lesson plans and research support, while administrative teams use it for tasks like creating meeting minutes and custom images for presentations. Live captioning and translation features in Google Meet address language barriers, fostering equity and accessibility for students.

Models/tools
...
1
Use case
Securely working faster in a highly regulated industry
Context

Pennymac, one of the largest lenders and mortgage servicers in the US, leverages Gemini for Google Workspace and Vertex AI to enhance efficiency while ensuring data security. The HR team uses Gemini for drafting job descriptions and policy documents, while technical teams use Gemini with proprietary data to improve the underwriting process by querying regulations and best practices.

Models/tools
...
2
Explore AI providers

54

AI use cases in

Europe

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Use case
Managing tourist congestion
Context

The City of Rome is implementing a GPT-4-powered virtual assistant called Julia via Microsoft Azure OpenAI Service. It guides visitors away from crowded tourist hotspots by providing personalized recommendations for lesser-known sites, leveraging a city-curated dataset to offer trustworthy and diverse travel experiences.

Models/tools
...
1
Use case
Improving document accessibility
Context

The European Parliament launched Archibot, an AI-powered tool built with Claude in Amazon Bedrock, to enhance access to their archives. Archibot allows users to search and understand millions of documents, reducing search time by 80% and improving user satisfaction by 58%. The tool processes 10 times more queries monthly, offering multilingual support and retrieval-augmented generation (RAG) to help researchers and policymakers analyze legislative documents and create reports efficiently.

Models/tools
...
2
Use case
Faster feature deployment
Context

Gumroad, an e-commerce platform for digital creators, uses Claude 3.5 Sonnet to enable customer support teams to fix issues with code and contribute to product development. Claude assists them in writing code, locating files, and resolving customer issues.

Models/tools
...
2
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