Capita has joined forces with Artificial to deliver disruptive insurance technology that digitises the end-to-end insurance lifecycle, reducing manual processes and making insurance frictionless.
Artificial provides digital solutions to clients across the insurance sector, enabling them to leverage new technology to improve their internal processes, price more accurately and deliver exceptional user experience.
Following extensive due diligence Capita’s corporate venture unit, Capita Scaling Partner, selected Artificial for investment, and will provide a dedicated business development team to enable Artificial to scale rapidly and deliver their digital solutions to retailers and insurers globally.
Artificial’s digital solutions strengthen Capita’s existing insurance offering, and opens new distribution channels for clients to increase provision across customer bases.
The solutions create a digital customer journey with straightforward purchasing and claims processes. It harnesses machine learning to increase the accuracy of risk pricing, and enables rapid claims resolution through automation. The company is run by a world-class team of data scientists, software engineers and insurance industry experts with a strong delivery track record.
Damian Arnold, CEO, Artificial, said: "Everyone at Artificial is excited by our strategic partnership with Capita and the potential opportunity we will create together. We believe our partnership will dramatically increase the scale and pace of change we can deliver. The insurance sector is undergoing significant change and our exceptional team has developed proven digital solutions which deliver tangible benefits to our customers from day one. We are continuing to invest in our machine learning capabilities, which will provide our customers with a competitive edge in the future."
