McKenzie Intelligence Services (MIS), renowned for providing geospatial data and analysis to the insurance sector, has unveiled a groundbreaking AI damage classifier. This innovation aims to revolutionize insurance assessments by augmenting human intelligence-led evaluations following catastrophic events.
The introduction of this cutting-edge tool to MIS’ Global Events Observer (GEO) platform, designed in compliance with the 2024 Lloyd’s Market Geospatial Service programme, promises to expedite insurers’ incident and claims responses. It also seeks to elevate portfolio loss analysis, encompassing policy terms, while concurrently lowering costs.
GEO represents a fusion of artificial and human intelligence, delivering swift actionable insights at both property and portfolio levels. With its latest iteration, GEO harnesses AI to bolster the damage assessment process on a grander scale, furnishing insurers with insights of superior speed and accuracy compared to existing market offerings.
Moreover, MIS underscores its commitment to precision by employing a team of military-trained intelligence experts to manually assess impacted properties. Leveraging data from diverse sources, including satellite, aerial, and ground-based imagery, ensures unparalleled accuracy in property damage evaluation.
Forbes McKenzie, the visionary founder and CEO of MIS, remarked, “Since 2017, we have worked closely with the Lloyd’s market to enhance GEO. By integrating portfolio data with GEO, our clients gain expedited insights into their potential exposure, with all insured properties and policy terms conveniently displayed on our platform.”
McKenzie further emphasized, “This comprehensive insight, ranging from individual risks to portfolio-level analysis, within hours of an event, is unparalleled globally. Moreover, our industry-leading damage assessments seamlessly integrate into clients’ claims systems via API, eliminating the need for cross-referencing affected properties.”
Thanks to this advancement, MIS can now furnish property-level insights through GEO’s Exposure and Claims Layers with unprecedented speed on a global, multi-peril basis. This AI-supported, human intelligence-driven methodology empowers insurers with enhanced event response capabilities, facilitating a rapid comprehension of exposures, expediting claims triage, and ultimately reducing costs.
