Intelligent AI and Distribind, funded by UK Research and Innovation (UKRI), celebrated at 2021 ACORD InsurTech Innovation Challenge London.
Two pioneering British companies funded by UKRI have been recognised in a world renowned InsurTech competition. This is part of UKRI’s ongoing commitment to deliver the Industrial Strategy Challenge Fund’s next generation services programme.
Earlier this month, Intelligent AI was announced as the winner of the 2021 ACORD InsurTech Innovation Challenge (AIIC) London.
Intelligent AI developed a product that utilises over 300 datasets to create a digital twin of risk for any global property portfolio or assets.
Distribind, an automated data exchange for the insurance delegated authority industry, was also included in the list of finalists.
ACORD is the global standards-setting body for the insurance and related financial services industries. Since 2015, the International Association of Conference Interpreters (AIIC) has brought together insurance innovators and start-ups with the potential to transform the insurance industry for the better. One way it seeks to do this is through the collation and smarter use of data.
UKRI says it shares this view and supports businesses that look to develop new technologies based on artificial intelligence in the high value services sector, including the insurance industry.
- secured UKRI funding through the enabling data access collaborative research and development competition run in 2019
- is a member of the NGS Enabling Data Access, convened and funded by KnowRisk consortium.
Distribind benefited from UKRI funding secured through the first next generation services collaborative research and development competition launched in 2018.
The recognition for Intelligent AI and Distribind follows on from another UKRI-backed business award win last year. RegulAItion won the Monetary Authority of Singapore (MAS) 2020 Global Fintech Hackcelerator.
RegulAItion developed an AIR platform that blends privacy-enhancing techniques, blockchain and AI in order to transform the way in which regulated organisations across the globe share data.
Stephen Browning, Challenge Director of next generation services at UKRI said:
Following Intelligent AI’s stunning win at the AIIC, CEO Anthony Peake, acknowledged UKRI’s ongoing support. He said:
Source: UK Research and Innovation.
Launched in April 2018, UKRI is a non-departmental public body sponsored by the Department for Business, Energy and Industrial Strategy (BEIS). They bring together the seven disciplinary research councils, Research England, which is responsible for supporting research and knowledge exchange at higher education institutions in England, and the UK’s innovation agency, Innovate UK. For more details go to: https://www.ukri.org/