Zurich UK has selected Intelligent AI as its UK champion in the Zurich World Innovation Championship. Nearly 400 insurtechs applied in the UK. Six reached the final, and Intelligent AI was chosen from that group.
The award recognises the platform Intelligent AI has built for commercial property underwriting. It combines artificial intelligence, data analytics and satellite image analysis to give insurers a real-time view of property risk across their commercial portfolios. Underwriters can assess risk at the point of quote, and risk managers can monitor exposures across a whole book rather than a sample of it.
As UK champion, Intelligent AI moves on to the global selection phase in March. Zurich will choose twelve insurtechs from that phase to develop their propositions with the group. The chosen propositions could then be scaled across Zurich Insurance Group.
Mark Budd, Head of Innovation at Zurich UK, said: “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.”
Anthony Peake, CEO of 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.”
This follows Intelligent AI’s win in the 2021 ACORD Global Innovation Challenge, where the company was also named an InsurTech to Watch.