Zurich has announced Intelligent AI as its World Innovation Championship UK finalist. This follows a selection process where nearly 400 entrants were whittled down to six who presented their ideas at a Superday. Entries to the global competition for the UK doubled compared to last year.
Intelligent AI’s InsurTech solution uses the latest AI, data and satellite technologies to provide an enhanced understanding of risk. Its intelligent risk underwriting platform delivers a real-time, digital, 360-degree view of risk across 100% of global commercial property portfolios. Noted as the ‘InsurTech to watch’, Intelligent AI are recent winners of the 2021 ACORD Global Innovation Challenge.
The UK finalist has now made it to the global selection phase of the World Innovation Championship that will take place in early March. After this, 12 winners from across the globe will reach the accelerator phase. Here they will work in partnership with Zurich to develop their proposition with the potential to scale it across the Zurich Group.
Mark Budd, Head of Innovation at Zurich in the UK added:
“We’ve been overwhelmed with the numbers and quality of entries this year which have been truly outstanding. Whittling nearly 400 applications down to six finalists has been no mean feat – especially given the huge range of ambitious and pioneering ideas put forward.
“We’re thrilled to be presenting Intelligent AI as the UK champion and are incredibly excited to be working with the team.”
Anthony Peake, CEO, Intelligent AI said:
“The team at Intelligent AI is incredibly proud to have been selected as a finalist. This is for the AI, Data Analytics and Satellite Image Analysis platform that we’ve developed to help insurers to deliver real-time commercial property underwriting and risk management. We are excited to be working with Zurich UK given its excellence in innovation and customer engagement.”
The Zurich Innovation Championship has cemented its reputation as an attractive global contest for start-up companies. A total of 2672 submissions were received with ideas reflecting the tournament themes of ‘Simplicity, Sustainability, Prevention and Mitigation and Insurance Reimagined. Nearly 400 applications were received into the UK from companies based all over the world.
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