Travelers Announces Strategic Partnership With Groundspeed Analytics; Will Use AI to Streamline Submission & Quoting Processes
30 Octubre 2019 - 7:00AM
Business Wire
The Travelers Companies, Inc. (NYSE: TRV) today announced a
strategic partnership with Groundspeed Analytics, Inc. to simplify
its new business and policy renewal processes through the use of
artificial intelligence (AI). The two companies will also
collaborate on the design of additional AI capabilities that can
provide increased efficiencies through the automation of commercial
insurance analytics.
Quote requests often require manual effort to extract
information from submitted documents before an underwriter can
fully evaluate and price the risk. The use of AI will augment the
company’s underwriting capabilities by enhancing risk selection and
increasing efficiency while also allowing agents and brokers to
write business more quickly.
“Using Groundspeed’s AI capabilities will optimize productivity
for both our underwriters and our agent and broker partners,” said
Bill Devine, Senior Vice President, Business Insurance, Travelers.
“We are pleased to be working with the Groundspeed team and will
look for additional opportunities to enhance our customers’
experiences and provide higher levels of service.”
“We’re excited to collaborate with one of the most respected and
sophisticated leaders in the commercial property and casualty
insurance industry,” said Andrew Robinson, Co-CEO, Groundspeed. “By
organizing valuable unstructured data from submission documents,
our technology solutions will help Travelers realize operational
improvements that can reduce friction in the underwriting process
for parts of its Business Insurance book and drive a better
experience.”
For more information about Travelers and its tools and resources
for agents, please visit travelers.com/foragents.
About Travelers The Travelers Companies, Inc. (NYSE: TRV)
is a leading provider of property casualty insurance for auto, home
and business. A component of the Dow Jones Industrial Average,
Travelers has approximately 30,000 employees and generated revenues
of approximately $30 billion in 2018. For more information, visit
www.travelers.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20191030005572/en/
Media: Kate Thermansen, 860.954.1789
ktherman@travelers.com
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