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IQ Lab |
The IQ Lab is our incubator for the next generation of solutions. It’s where fresh ideas are prototyped and start coming to life as real tools and insights for our clients.
The claims world is increasingly fast moving, so we are always thinking about how to solve the problems of tomorrow as well as today.
Our approach
There are two aspects about our approach which makes Kennedys IQ so unique:
Global legal and claims knowledge
We canvass bright new ideas from the global network of Kennedys Law. This rich legal and claims expertise across the world creates diverse global perspectives through a local lens. It also helps us scale our solutions for global clients.
Co-creation of solutions
We recognise that businesses are different. So we work with you to understand your drivers and ensure that our technology and ideas can be adapted and configured for your claims process and unique challenges. Our approach to co-create solutions makes us unique by creating new value for you. We are working with a number of major insurers to help them realise their vision through ideation consultancy and iterative development. We also partner with agencies and universities to bring fresh research and new ideas to life.
Current IQ Lab projects and partnerships
In addition to working with our own data scientists, technologists and researchers to develop solutions we also partner with clients and agencies such as Innovate UK to bring expertise, collaborators and funding to help us explore the insurance focused products of the future.
SmartPolicy is a project that originated from our Hong Kong office. SmartPolicy uses machine learning and text analytics techniques to machine read policies and examine them for unintended exposure to risk, be it contractual, legal or regulatory.
SmartClaims is a project where we are working with The University of Manchester and data science specialists Leap Beyond to explore the potential for modern AI techniques to automate the liability decision in three different claims lines.
We also partner with leading universities and their cognitive science departments in Knowledge Transfer Partnerships, combining our own growing data science team with academic specialists. Through these partnerships we are working with The University of Manchester to combine legal expertise and machine intelligence to identify potentially fraudulent claims.
And we are working with University College London (UCL) to use data to manage the potential for serious consequences of emerging risks, with an initial focus around reputational risk.
Related news and insights
Kennedys IQ on using AI for ‘highly complex’ claims
Karim Derrick, chief products officer at Kennedys IQ, shares how the company is using artificial intelligence for complex claims documents.
Kennedys becomes first law firm to join prestigious US fintech research group
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.
Bright minds, brighter horizons: Kerala’s young innovators
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.
