Kennedys IQ and Solomonic have announced a new collaboration to explore the use of litigation data within the insurance industry.
Kennedys IQ and Solomonic collaborate on litigation data
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Archive for insurtech
Kennedys IQ launches Insurtech industry’s first neuro-symbolic AI solution for global insurance market
Kennedys IQ launches Insurtech industry’s first neuro-symbolic AI solution for global insurance market.
Financier Worldwide: AI regulation in the UK and EU
Financier Worldwide discusses AI regulation in the UK and EU with Deborah Newberry, Richard West, Dr. Nathalie Moreno, Karim Derrick and Joe Cunningham at Kennedys.
Kennedys recognised across three categories at the FT Innovative Lawyers Awards Europe 2024
Kennedys are proud to have been shortlisted in three highly competitive categories at the FT Innovative Lawyers Awards Europe 2024, which took place on September 12, 2024, at the Natural History Museum, London.
Artificial Intelligence: exploring risks and rewards
Karim Derrick of Kennedys IQ explores the risks and rewards as the sector looks to an AI future.
Assessing the impact of the 17th Edition of the JCG on OIC Claims
The highly anticipated 17th Edition of the Judicial College Guidelines (JCG) has begun to reach recipients. Let’s delve into the standout updates from this edition and examine their potential implications for Official Injury Claim (OIC) claims.
Advancing legal services for the insurance sector: AI-driven empowerment
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.
Enhancing claims reserving with SmartClaim
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.
Augmenting lawyer expertise with AI legal decision support systems
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.
Kennedys IQ contributes to ‘Fostering Innovation in Insurance’ global report
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.
Award winning Kennedys IQ
Last week, we had the honour of attending the prestigious ‘British Legal Technology Awards 2023’ as an award finalist.
Large language models: maximalism & lawtech
The legal industry is experiencing rapid technological advancements that have potentially far-reaching implications for the sector. These legal-technical advances (LawTech) promise to revolutionise legal practice, offering increased efficiency, cost-effectiveness, and improved legal services for the end consumer by leveraging Artificial Intelligence (AI), automation, and data analytics, to streamline processes, reduce manual workloads, and deliver more accurate and timely results.
Could large language models make coverage disputes a thing of the past?
This article takes a look at the use case of policy review, data collection and identifying risk to mitigate coverage disputes and the work Kennedys IQ have undertaken to address it.
Is ChatGPT reaching its pinnacle? What is the likely impact for lawtech and insurtech?
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.
Double hire and new commercial head for Kennedys IQ
Kennedys IQ, the technology and innovation arm of global law firm Kennedys, is bolstering its team with two new hires as it ramps up for growth. Rhian Gait-Parker has joined Kennedys IQ as director of operations from Assura Protect where she was chief operating officer.
Breaking through the resistance: driving innovation across organisations
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.
Change Is Coming for the Professions – It’s Time to Embrace It
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.
Mitigating future risk: anticipating reputational exposures in an ESG-conscious world
This article contains statements, paraphrases and conclusions from Kennedys Fostering Innovation Panel, The rise and rise of intangible risk: ESG and reputation. The panel considered how the integration of ESG within the business environment will continue to impact the exposure of insurers and insureds to reputational risk.
Cutting Through the Noise: Eliminating Inconsistency in Claims Handling
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.
The role of noise in decision-making for insurance claims professionals
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 launches competition with Kerala school to inspire next generation of ‘Future Innovators’
Kennedys ended its ‘Fostering Innovation’ campaign on a high by inviting the next generation of trailblazers to share their ideas.
Open insurance: A reality or a pipe dream?
Karim Derrick, product and innovation director at Kennedys IQ considers how prepared the insurance industry is for introducing the concept of open insurance.
Megabytes and algorithms in the insurance industry
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.
Kennedys Launches Focus on Fostering Innovation
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.
Legal tech alone is not enough
Legal tech is big business, and getting bigger. LawtechUK reported in 2021 that the market opportunity for legal technologies was £22bn, and UK lawtech startups and scale-ups grew 101%.
Maturity framework needed to guide safe and responsible use of AI by financial services industry, says Kennedys
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.
Kennedys 2022 insurtech highlights, and the optimistic 2023 vision
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.
