Travelers announces strategic partnership with groundspeed analytics; will use ai to streamline submission and quoting processes

The travelers companies, inc. announced a strategic partnership with groundspeed analytics, inc. to simplify its new business and policy renewal processes through the use of artificial intelligence (ai). the two companies will also collaborate on the design of additional ai capabilities that can provide increased efficiencies through the automation of commercial insurance analytics. quote requests often require manual effort to extract information from submitted documents before an underwriter can fully evaluate and price the risk. the use of ai will augment the company’s underwriting capabilities by enhancing risk selection and increasing efficiency while also allowing agents and brokers to write business more quickly.
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