Higher accuracy in calculating risk exposure, with results yet to be fully quantified.
The client is a long established specialist insurance and reinsurance business operating within the Lloyd’s of London market, underwriting a wide range of specialist Marine, Energy, Aero, and liability classes of commercial insurance. A significant portion of work within the Lloyd’s market remains manual, involving large binder files for individual insurance cases. Underwriting policies required validating risk aggregation against previously underwritten policies in the same region, a process that involved categorizing risks associated with similar exposures in the area. While tools existed to simulate potential disasters and identify risk exposure, they came at high cost and required time consuming integration.
Aiwozo deployed AI agents to drive data into cloud based Risk Aggregation tools and generate simulations of risk exposure, without requiring integration with third party applications.
Data agents sourced the relevant underwriting data directly, feeding it into the Risk Aggregation tools to run risk exposure simulations.
Analytics agents processed the simulation output, running it through further analysis to refine the risk exposure results.
The final results were then updated directly in the underwriting tool, giving underwriters accurate, ready to evaluate risk exposure data without manual intervention at any stage.
Key business and operational challenges that limited performance, scalability, and governance before automation was introduced.
