DARAG and DGTAL have announced a three year partnership, implementing AI tool, DRILLER.
The agreement entails legacy portfolios with open claims as well as future acquisitions.
DRILLER is the first AI software that understands the content of claims documents and enables real time analysis and valuation of claims portfolios.
It will enable DARAG to assess insurance portfolios much faster and more accurately, thus delivering a competitive edge in the pricing of portfolios and in the settlement of claims.
Focusing solely on insurance and having started three years ago, DGTAL is significantly advanced in providing AI that trains and uses Long Language Models (LLMs) such as GPT at scale for the industry.
DGTAL has been established jointly by deep-tech and insurance experts.
Tom Booth, CEO, DARAG Group, said: “Combining our transaction experience with AI will cement DARAG’s leading position in the legacy market in Europe.
“It also offers potential benefits for our global operations in the future.
“DGTAL is the only relevant deep technology provider with insurance DNA, making them a natural fit for us, and we look forward to developing this partnership to the benefit of our clients.”
Arndt Gossmann, CEO of DGTAL said “Signing the first long-term agreement straight with a leader is a great validation of what we do. It is fascinating to understand the opportunities that AI creates for insurance, as it helps assess and understand the huge amounts of available information much better than ever before, leading to informed decisions. Early AI adopters are bound to capitalize the most.”