Kennedys IQ unveils neuro-symbolic AI solution for global insurance market

Kennedys IQ, the client-facing technology division of Kennedys Law LLP, has launched Kennedys IQ SmartRisk, a pioneering neuro-symbolic AI solution designed to transform risk analysis within the insurance industry.

This innovative tool, described as the first of its kind, has been integrated into the data-powered IQ Platform, and marks a significant advancement in policy review, liability assessment, and coverage analysis.

Kennedys IQ SmartRisk distinguishes itself by employing a hybrid approach, combining the power of Large Language Models (LLMs) with sophisticated insurance knowledge modeling based on Evidential Reasoning (ER) and Belief Rule Base (BRB) methodologies.

This neuro-symbolic architecture compares to pure GenAI solutions, which rely solely on probabilistic outputs, by providing a structured and auditable decision-making framework, Kennedys IQ explained.

Karim Derrick, Chief Product Officer, Kennedys IQ, comments: “There is a growing demand for AI-driven automation in insurance, particularly within specialty and complex risk underwriting.

“Policy wording analysis and claims handling are complex, inconsistent, and prone to human error, and GenAI chatbots today lack auditability, making them unsuitable for insurance risk assessment.”

He continued: “Our interest is helping clients identify, manage and mitigate risk through the SmartRisk tool which can fill this gap to ensure transparency in decision making and regulatory compliance. In doing so, it eliminates the ‘black box’ concern around other AI models, while improving efficiency, minimising human error and providing insurers and brokers with deeper data-driven insights.

“Kennedys IQ’s SmartRisk frees up insurance professionals to focus on high-value decision-making while maintaining full control over risk analysis.”

The solution has been designed for claims professionals, brokers, and underwriters across global markets, including the London Market, specialty and general insurance in the UK, Europe, North America, LATAM and APAC.

It will allow insurers to automate risk assessments and policy analyses, enhance claims governance through structured decision-making, extract critical data from complex documents – including handwritten notes – and improve compliance and accuracy, while reducing inconsistencies in decision-making.

Neil Mody, US Partner, added: “The SmartRisk U.S. model is designed to help insurance adjusters navigate complex regulatory frameworks, including New York Insurance Law 3420. By mirroring the proprietary coverage evaluation process honed by seasoned professionals over decades, SmartRisk enables adjusters to reliably pinpoint key coverage issues, and make well-informed decisions.

“SmartRisk empowers adjusters by streamlining claim reviews while reducing high-frequency, high-risk human errors that cost insurance companies millions annually.”

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