Artificial Intelligence for the Insurance Industry
Insurance focused IT services company, Brylianze, announces the development of an insurance Artificial Intelligence platform.
“Artificial Intelligence will be a major thrust for insurance companies in the near future”, says Steve Addair, CEO of Brylianze. Addair continues: “AI will be a dominant software platform for insurance once the bulk of insurance companies gets important components into place.”
“Insurance companies are going finish their core system implementations within the next two years”, says Addair. Addair continues: “This core is rating, policy, billing and claims. Generally, the industry is about seventy to eighty percent there. Next, companies need to get their database strategy and database implementation in place. Most companies are working on this now or thinking about it. We’ll see a serious shift towards Artificial Intelligence in the insurance industry once we see enough insurance companies that have a stable core and database platform.”
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Addair says that Brylianze will make a sizable investment around machine learning technology as well as a deep learning framework. “TensorFlow has become our preferred deep learning library at Brylianze for a variety of reasons”, says Addair. He continues “the framework is one of the most widely used open source frameworks for deep learning. You can get into some really low-level model details; this allows us to use high level API’s and build our own custom operators. We also will invest in the Opensource Horovod Deep Learning platform developed by Uber. This platform allows us to use extremely large datasets with complex models. The Horovod platform distributes and scales the deep learning process so we can get far more robust solutions to the industry quicker and at a lower cost.”
Brylianze has positioned itself with partnerships or support services around the top insurance database technology as well as leading core system vendors. Addair says “our value proposition is to help the insurance client get the core system in place, get their database technology on top of core then implement the AI platform with specific solutions on top of that. We are so excited about the future of AI within our industry.”