PriyaPatel
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TLDR:
- MIS has launched an AI damage classifier to revolutionize insurance assessments.
- The classifier aims to accelerate incident and claims responses while enhancing portfolio loss analysis.
Article Summary:
McKenzie Intelligence Services (MIS) has introduced an advanced AI damage classifier to improve human intelligence-led damage assessments for insurers post catastrophic events. Developed as part of the Global Events Observer (GEO) platform, the product meets the criteria of the 2024 Lloyd’s Market Geospatial Service program and addresses the needs of major clients by enabling faster incident and claims responses and enhancing portfolio loss analysis.
By combining AI technology with manual assessments by military-trained intelligence experts, MIS ensures accurate and rapid property damage evaluation. The AI damage classifier allows insurers to assess damage on a larger scale with greater speed and precision than existing solutions, enabling them to make data-driven decisions after natural or man-made disasters.
Forbes McKenzie, the founder and CEO of MIS, expressed enthusiasm about the capabilities of the AI damage classifier, highlighting the transformative potential for insurers. The GEO platform not only provides detailed property-level insights but also enhances event response capabilities, increasing claims triage efficiency and reducing costs.
GEO leverages various data sources, including satellite, aerial, and ground-based imagery, to offer rapid, accurate, and actionable intelligence for catastrophic events like floods, wildfires, hurricanes, and earthquakes in near real-time. By seamlessly integrating with clients’ claims systems via API, GEO stands out as a comprehensive event response solution for insurers, loss adjusters, and government agencies.
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