Expert.ai, the leader in artificial intelligence (AI) for language understanding with a focus on Insurtech products, has become a senior member of the Italian Insurtech Association (IIA). Thanks to the consolidation of the partnership, expert.ai will strengthen its commitment to promoting innovation and development of the digital insurance market where it will continue to play an active role in the Board of Directors through its representative, Pamela Negosanti, Head of Sales and Sector Strategy for Financial Services and Insurance (who has been on the Board of Directors since last year).
Through its sector experience working alongside national and international insurance customers, expert.ai will foster the sharing of best practices related to the application of AI and intelligent process automation to support training sessions, initiatives and events aimed at increasing the knowledge and skills related to the features and benefits provided by natural language technologies (natural language understanding and natural language processing).
“This is an exciting time to be part of he Insurtech revolution. In the next 10 years, the insurance world will change tremendously. Today, we are at a turning point where the role of artificial intelligence is beginning to permeate the entire value chain to improve competitiveness in terms of growth, risk management, and operational efficiency,” said Pamela Negosanti, expert.ai Head of Sales and Sector Strategy for Financial Services and Insurance. “We’re thrilled to enhance our collaboration with the Italian Insurtech Association, providing expertise, sector experience, and technology to help promote an Insurtech culture in Italy.”
In 2021, Insurtech investments increased by 460%, with €280 million invested, compared to only €50 million in 2020*, creating the conditions to fuel even more significant growth by 2022. In this scenario, the strengthening of existing ecosystems, the development of new synergies, and the increasingly innovative supply and service models represent unique opportunities for market growth and allow Italy to close the gap that exists with other European countries.
“Having expert.ai among our senior members is an important endorsement of the association’s work to date. We are grateful for the trust placed in IIA: expert.ai’s support will be crucial in ensuring the achievement of our goals and the realization of our programmatic lines,” said Simone Ranucci Brandimarte, President and Co-founder of IIA and Yolo Group. “We are aiming high, with ambitious goals (increasing our investment in Insurtech to €1 billion and developing digital skills among all supply chain players), and this will only be possible through collaboration and support.”
The Italian Insurtech Association currently has 215 members, including companies, insurance brokers, banks and financial intermediaries, technology providers, industry experts, and startups. The addition of expert.ai increases the number of senior members rises to 10, alongside organizations such as Accenture, CRIF, Unipol, Leitha and Reale Mutua.
*2021 IIA Investment Index in collaboration with the Fintech and Insurtech Observatory of The Polytechnic University of Milan.
For more information, please visit www.insurtechitaly.com