ANN ARBOR, MI and ATLANTA, GA, April 11, 2019 – Aon PLC, the world’s second largest insurance broker, has harnessed the power of Groundspeed’s AI technology to uncover invaluable insights trapped in 170 million data points from insurance documents. With Groundspeed, Aon can identify and structure information from their historical documents with accuracy.
The data unleashed by Groundspeed technology is “helping to identify underlying causes of claims, industry benchmarks and losses versus premium – driving opportunities to expand coverage and help businesses reduce their total cost of risk. It also enables Aon to create new risk transfer solutions and treaties aimed at reducing premium for clients by developing a better understanding of loss trends within different lines of business and risk segments.”
Aon’s partnership with Groundspeed enables the firm to analyze all major lines of business, such as workers compensation, liability, property and automobile, as well as complex specialty programs and multi-layer structures.