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News & insights/Index |
Kennedys IQ and Vested Impact have announced a new collaboration to drive the use of environmental, social and corporate governance (ESG) data throughout the insurance industry.
In recent years the focus on Environmental, Social and Governance (ESG) has grown and an organisation’s actions in these areas can have a considerable impact on overall reputation.
Karim Derrick of Kennedys IQ explores the risks and rewards as the sector looks to an AI future.
As legal partners to the insurance industry, we are at the forefront of an exciting transformation, propelled by advancements in Artificial Intelligence (AI). Our vision extends beyond enhancing our own productivity; we are committed to empowering you, our insurance company clients, to manage and streamline your legal processes related to insurance claims more effectively.
Setting an appropriate reserve for insurance claims is a critical aspect of claims handling. While it’s common for claims handlers to establish a standard reserve based solely on the injury as described in the Claim Notification Form (CNF), there are additional factors to consider for a more accurate reserve assessment. In this article, we explore the significance of accurate reserves and the potential consequences of even a minor under-reserve.
Following our previous discussion in “Large Language Models: Maximalism & LawTech, we delve deeper into a specific application of these technologies and the transformative role of AI in legal decision-making, a domain traditionally reserved for legal professionals.
In a recent contribution to the “Fostering Innovation in Insurance” global thought leadership report, Karim Derrick, Chief Products Officer at Kennedys IQ, shares his insights that encapsulate the current state and future potential of insurtech.
Karim Derrick, chief products officer at Kennedys IQ, shares how the company is using artificial intelligence for complex claims documents.
Kennedys IQ, through our global law firm Kennedys, has joined the prestigious US-based Center for Research toward Advancing Financial Technologies (CRAFT) as it cements its position as one of the world’s most innovative law firms.
Kennedys IQ’s Future Innovators programme saw students from a tribal school in Kerala develop innovative ideas for solving both local and global problems. In March, Kennedys concluded Innovation Month by inviting young students to share their ideas.
Kennedys IQ and the AA’s impactful industry collaboration was recently acknowledged at the Insurance Times Tech and Innovation Awards 2023.
Recent observations indicate a potential inflection point in the use of ChatGPT, the renowned generative AI technology. Despite its integration to empower Microsoft’s Bing search engine and the relentless buzz surrounding its prowess on social media, ChatGPT has experienced a decline of up to 10% in user engagement compared to last month’s usage.
We had the privilege of welcoming professor Richard Susskind, author of the acclaimed book The Future of the Professions, to speak at the Kennedys’ Fostering Innovation in Insurance panel. Professor Susskind is an eloquent and renowned speaker on the topic of professional services disruption – a discussion that Kennedys follows closely.
This article contains statements, paraphrases and conclusions from Kennedys Fostering Innovation panel, ‘Cutting through the noise: improving decision making in claims’. The panel considered how ‘noise’ within the insurance and legal sector impacts the consistency and accuracy of the claims process, and the solutions available.
In the insurance industry, claims professionals are responsible for assessing and settling policyholders’ claims. An essential aspect of this process is decision-making, which can be affected by a variety of factors.
Kennedys ended its ‘Fostering Innovation’ campaign on a high by inviting the next generation of trailblazers to share their ideas.
Karim Derrick, product and innovation director at Kennedys IQ considers how prepared the insurance industry is for introducing the concept of open insurance.
As society transitions from the oil-driven era to the data-driven age (also known as the ‘Fourth Industrial Revolution’) global industries are being shaped by rapid digital transformation. It was estimated that by the end of 2022, 60% of global GDP will depend on digital technologies.
Today, we launch our focus on innovation, a thought leadership series with seminars, research articles, and reports which will run throughout March, to highlight innovation at Kennedys, and across the wider insurance and legal industries.
Artificial intelligence (AI) could bring “enormous potential benefits” to the insurance industry but regulators should put in place a bespoke AI Maturity Framework to assist its safe and responsible adoption, Kennedys has proposed.
In an article originally published by The Post Online, Kennedys shared its views on insurtech highlights from 2022, while looking ahead to what 2023 holds for the industry.
We are pleased to have added Rising Edge, the London-based Managing General Agent (MGA) to our Reputation Advisor consortium.
We, the sister company of global law firm Kennedys, are continuing to power growth with a trio of new hires. Melanie Milliner joins from AXA UK, Joe Cunningham joins from DARAG Group, and Alissa Harger joins from Linklaters.
We are pleased to have added Rising Edge, the London-based Managing General Agent (MGA) to our Reputation Advisor consortium.
We are pleased to announce our technology operation Kennedys Kognitive Computing, in India, has more than doubled its office space as it continues to grow its development team.
While sentiment analytics is not a new concept, its adoption by insurers has not yet been fully realised. Arguably, its biggest potential is in the area of reputational risk.
A consortium led by Kennedys have been awarded funding from Innovate UK to develop groundbreaking software able to identify and assess reputational risk.
Seven months since the launch of the Official Injury Claim (OIC) portal in the UK, more data is emerging every day as claims progress. Whilst early analysis of data can sometimes be misleading, there is now sufficient data to start forming conclusions.
We are delighted to announce we have appointed two new data scientists as part of our growing development team in India.
Rising stars Akhil Sivanand and Renimol Siby have joined Kennedys Kognitive Computing, an exclusive partnership formed by Kennedys in 2017 to help drive innovation in lawtech and insurtech.
When Kennedys IQ originally set off on the Portal Manager journey, we recognised that for most insurers, managing personal injury claims was onerous and that claim managers were struggling to get a handle on the bigger personal injury picture.
Very rarely does a book come along with the potential for genuine disruption. Even more rarely does one come along with implications for the professional services, and in particular insurance legal services. Noise is one of those books.
The European Commission has recently published a landmark proposal for a legal framework that will regulate, and even ban, certain AI systems.
Kennedys IQ has taken Portal Manager, its unique, end-to-end solution for compensators, to the next level by using artificial intelligence to assess medical evidence and recommend a damages figure for insurance claims in the MoJ Portal.
The legal technology market has a natural fascination for the new. Words like “launches”, “debuts”, “unveils” are the narrative that propels a growing niche of alternative offerings that are increasingly an adjunct to most big firms.
The government’s proposed National Data Strategy offers significant opportunities to improve the functioning of the insurance and other industries, Kennedys said this week.
Since COVID-19 began, with the huge changes in working patterns we’ve all had to adapt to, and the ubiquitous ‘new normal’ – what really is the future of court systems globally in a post-Covid world?
Kennedys IQ, the newly launched technology company has appointed Chris Stubbs who has joined as a Product Manager.
The use of technology and artificial intelligence (AI) has been thrown into even sharper focus since the advent of covid-19 as governments across the globe seek to utilise all tools available to fight the pandemic.
Commentators in the claims space have begun to use this analogy to describe lockdown and the tidal wave of claims that may follow.
Kennedys IQ’s Karim Derrick looks at technology and the containment of COVID-19, particularly in South Korea, China and the UK.
Earlier this week Kennedys won ‘Best New Solutions for Clients’ and the overall ‘Best in Theme’ awards at the Managing Partners’ Forum Awards.
We are thrilled to confirm the launch of Kennedys IQ, a technology-driven company whose purpose is to be “Kennedys, without the lawyers”.
There can be no denying that Artificial Intelligence (AI) has already changed the way we live today. Whether it’s predicting what we might like to buy on Amazon or creating tailored fitness programmes to put us through our paces, an AI enabled future is already here.
We are pleased to confirm the launch of Portal Manager, the latest product in our award-winning innovative product suite aimed at helping clients use lawyers less.
