Artificial Labs

Artificial Labs is a London-based artificial intelligence (AI) insurance technology (InsureTech) company developing software powered by machine-learning for insurers. Artificial developed a cloud-based API product for insurance providing companies called "artificialOS."

The artificialOS product is a SaaS-based subscription comprised of five main categories of tools and software products, including Universal tools, Contract building and negotiation, Data capture, Scoring and pricing, and Policy management.

The Universal tools feature of artificialOS contains the API portions of the product used for product integration to existing systems that a customer may have, including legacy systems. Additionally, there are audit tracking and direct engagement tools that track submissions and audit processing claims. Lastly, the product includes custom document creation and documentation storage.

The Contact building and negotiation feature has two primary tools: the digital contract platform, which can quote, negotiate, provide policy binding, endorsements, cancellation procedure, and renewal procedures. The second tool is the digital distribution tool, used for broker hierarchy, location-specific products, and underwriting facilities. Other features include electronic signing and digital contracts with data points.

Data capture features are powered by machine learning and AI. The data capture tool extracts data from emails, including their attachments and other files. Data capture is also used within the artificialOS claims portal, an automated insurance claim filing program. This data is collected and used to predict future risk and identification of potential high-risk clients.

The scoring and pricing tools use information from data capture to predict risk, current business portfolios, and the likelihood of a claim being filed. The API allows the feature to be integrated into underwriting departments and third-party software, which gives data to the underwriting and broker teams to make analytical decisions about liability and insurance rates for companies.

Policy management is available within the platform allowing users to customize and change coverages in real-time via the cloud-based API infrastructure. Users can also cancel or purchase policies through this platform.