Aon, Join Forces to Enhance Property Underwriting With AI

Image for post
Image for post

Aon has partnered with US insurance technology provider to bring some added power to property underwriting utilizing the latter’s artificial intelligence technology. will offer access to over 130 billion data points on properties that are tailored to painlessly integrate into existing systems and models and enable risk analysis and pricing. The data is obtained via artificial intelligence on frequently updated satellite and aerial imagery and other data sources, removing the need of being physically present at the premises.

According to Aon, utilizing this distribution network insurer can assess their risk portfolio through’s new wildfire model (Z-FIRETM). It uses machine learning to merge property details — including vegetation, building materials, topography, weather patterns among others — with actual loss data. Insurers can leverage’s Property Risk Analytics Platform to more accurately capture individual property characteristics. Ultimately, the process equals to a clearer understanding of the insured portfolio while at the same time decreasing loss ratios due to high fidelity data and expense ratios due to fewer physical inspections.

The President and US CEO of Aon, George deMenocal explained, “Immediate access to new, useable and meaningful data insights is continuing to advance insurance underwriting. Underwriting With AI

check out: Big Data Enhancing Insurance Sector

I am a technology blogger, who loves to read and write on the latest in technology.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store