Zurich wins Gartner Award for cognitive innovation 2017
With its cognitive computing solution, Zurich Insurance Group has won the Gartner Eye of Innovation Award for the “Most Innovative Digital Cost-Saving Initiative” of the past 12 months. The renowned consulting and market research company Gartner Inc. had the three EMEA winners selected at their annual ITxpo symposium in Barcelona, 5 to 9 November 2017.
Zurich Insurance Group won this award for “best in class” technological innovations in financial industries for their cognitive computing solution in claims management. Using the leverage of Artificial Intelligence, the analysis of medical reports has been automated and a several additional services have been implemented. As the announcements explains, the time spent on the assessment of the medical reports is reduced from around an hour to mere seconds, which allows the company to save some 40,000 hours a year, leading to annual cost reductions of about $5 million.
Thus, Zurich has positioned itself as a leader in a market where all competitors try hard to achieve digital innovation and leverage artifical intelligence. The company has shown that, with cognitive computing and a pragmatic approach, huge potentials for improvement do not only exist in theory, but can also be exploited in reality.
Wabion congratulates Zurich Insurance Group on this award, and Wabion is proud, as part of the Integration Agreement with Zurich, to have contributed to this great success!
More on the 2017 EMEA Gartner Eye on Innovation Awards.