Cortical.io, renowned for its innovative artificial intelligence (AI) solutions, has teamed up with Swiss Re to advocate for the widespread adoption of intelligent document processing (IDP) among group insurance carriers, streamlining insurance operations.

Through this strategic partnership, Cortical.io’s cutting-edge IDP solution, SemanticPro, will be extended to Swiss Re’s clientele, aiming to expedite the intake process and enhance efficiency in quote preparation and policy comparison.

The intelligent extraction and classification capabilities offered by SemanticPro have demonstrated remarkable improvements in reducing review time and enhancing quote accuracy when compared to traditional manual processes.

This collaboration empowers Swiss Re to better assist its insurance clients by optimizing policy processing workflows, minimizing errors, reducing response times, and improving operational efficiencies.

Chris Howley, Head of Group Life & LTD Reinsurance & Vice President, Americas at Swiss Re, emphasized, “The insurance industry faces challenges with legacy systems, manual workflows, and fragmented data, hindering operational efficiency. Recognizing the need for automation and AI-driven tools to streamline processes and enhance efficiency, we identified Cortical.io as a standout among IDP vendors. Its ability to accurately process complex provisions and its user-friendly, no-code interface set it apart. We eagerly anticipate contributing to our clients’ business success through this collaboration.”

Hans-Peter Riecken, SVP North America at Cortical.io, added, “We are impressed by Swiss Re’s dedication to providing its clients with access to innovative technologies and deeply honored to have been selected to support them in delivering optimal value. It is incredibly rewarding to have our expertise in the insurance industry acknowledged by one of the sector’s leaders, and we are excited to offer Swiss Re’s clients the same benefits enjoyed by our own insurance customer base with Cortical.io SemanticPro.”

Source: fintech.global

French payment services provider Lemonway has recently expanded its leadership team with two key appointments in its finance and technology departments, aiming to bolster its management committee. Joining Lemonway’s executive team are Céline Bayer, appointed as Chief Technology Officer (CTO), and Nicolas Vigier, appointed as Chief Financial Officer (CFO).

Céline Bayer’s role as CTO involves streamlining Lemonway’s internal technologies and processes and leveraging artificial intelligence to enhance customer service. With previous experience at AI surveillance software firm Veesion and payment infrastructure firm Mangopay, Bayer brings valuable expertise to her new position.

Meanwhile, Nicolas Vigier takes on the responsibilities of managing Lemonway’s finance and human resources departments as CFO. With prior experience as CFO for merchant payment solution Payplug and roles at payment acceptance and services provider Ingenico Group, Vigier’s financial acumen is expected to contribute significantly to Lemonway’s strategic initiatives.

According to Antoine Orsini, CEO of Lemonway, these appointments mark a milestone in the company’s growth journey. Bayer and Vigier are poised to support Lemonway’s investment efforts aimed at enhancing the security, efficiency, and overall effectiveness of its solutions.

Established in Paris in 2007, Lemonway specializes in providing payment solutions to marketplaces and alternative finance platforms. Their offerings include wallet management, payment processing, and third-party payment capabilities, all within a regulated framework compliant with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.

With a client base of over 400 marketplaces and management of more than 1.3 million wallets, Lemonway has emerged as a leader in the payment services industry. To date, the company has raised €50 million in funding, reflecting its strong position in the market.

Source: fintechfutures.com