Expert.ai announced that its Platform for Insurance has won a Silver Stevie® Award in the Insurance Solution Category in the American Business Awards®, the USA’s premier business awards program. The accolade recognizes the company’s commitment to innovation and product excellence in transforming strategic and complex Insurance processes with advanced AI solutions.
Michael Gallagher, founder and Executive Chairman of the Stevie Awards, commented: “We are delighted to acknowledge the wide range of American organizations in The 2024 American Business Awards. This year, we witnessed a surge in nominations in categories like Product Innovation, Innovation of the Year across diverse industries, and Technology Categories, mirroring the influence of new and emerging technologies shaping our nation. We look forward to honoring the achievements of Stevie winners on June 11th in New York City.”
More than 300 professionals worldwide participated in the judging process to select this year’s Stevie Award winners from more than 3,700 nominations across a wide range of categories. The expert.ai Platform for Insurance automates the review of documents across claims, underwriting and risk management using a combination of semantic AI, machine learning and generative AI. This enables the categorization, extraction and summarization of data for faster decisions at scale to reduce risks and costs while driving better outcomes.
According to the judging panel, the platform “is catering to all the stakeholders—Risk Engineers, Underwriters, and Claim Handlers—well. In an industry where there is a lot of documentation, both standard and non-standard formats, the solution offers a great opportunity for automation, thereby increasing the efficiency and throughput.” The expert.ai solution was also lauded for the “exceptional innovation, expertise and effectiveness in leveraging AI to transform insurance workflows.”
“We are proud of this recognition honoring the work of our expert.ai team to continue to build innovative AI solutions that provide unequalled value for insurers,” said Keith C. Lincoln, CMO of expert.ai. “While there is significant buzz in GenAI within insurance, it is appropriate to be recognized for our innovative approach that focuses on results and value. Having worked with many of the world’s largest insurance companies on numerous implementations, we have deep experience helping insurers leverage practical AI to streamline their processes and transform their businesses.”
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