hyperexponential launches suite of AI-powered capabilities

Insurtech hyperexponential (hx) has launched a suite of AI-powered capabilities, hx AI, at its first AI event in London.

According to the insurtech, hx AI is designed to revolutionise pricing, actuarial and underwriting productivity and decision-making in the insurance industry.

To increase insurers’ efficiency and profitability, hx AI introduces tools that harness automation and complex, fragmented data to improve workflows and support decision-making.

These include: Data Ingestion Library, here underwriters can automate this process to preview, confirm, and seamlessly map data into pricing models, reducing administrative burdens.

hx AI also has a Virtual Actuarial Assistant, an AI-powered assistant that provides real-time programming suggestions and inputs to help actuaries build models faster and increase development speed by automating tedious tasks and augmenting learning potential.

With the new launch, hyperexponential is focusing its ambitions on offering fresh insight, analysis and decision-making capabilities that will help insurers to drive profitability and identify new margins in complex lines of business.

Amrit Santhirasenan, Chief Executive Officer and Co-founder, hyperexponential, commented on the launch, “AI is fundamentally transforming the pace and potential of large-scale digital transformation projects. hx AI brings this to our client base, and allows them to realise the benefits immediately.

“Work like pricing model builds, which once took weeks or even months, can now be completed in minutes with hx AI. While our free Data Ingestion Library adds advanced automated document extraction and analysis capability to any pricing model, saving our clients time and money, and freeing up their precious time to focus on the value-adding work.

“Our approach at hx has always been to partner closely with our customers, using technology to turn their data, insights and expertise into tangible competitive advantages. AI takes this to a completely new level, with unbounded potential. I’m personally incredibly excited to support our customers on this transformative journey.”

The launch event was aimed to allow industry experts to discuss AI’s potential for underwriting and pricing complex risk, from managing and ingesting unstructured data to leveraging, optimising and streamlining pricing workflows.

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