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Eigen Technologies Wins CogX Award for Best AI Product in Insurance
Eigen Technologies (Eigen), the global intelligent document processing (IDP) provider, is proud to announce that it has won the ‘Best AI Product in Insurance’ category at the CogX Awards 2022. The awards celebrate the best-of-the-best in AI and emerging technologies across industry and society, highlighting the products and organizations that CogX believes are changing the world.
The insurance sector is undergoing a rapid digital transformation, with AI at its heart. As a result, insurance is now Eigen’s fastest growing sector, with firms using Eigen’s no-code AI-powered platform to automate manual processes in underwriting, policy administration, asset management, and in regulatory and compliance exercises. Eigen provides 50% faster access to better data and 80% cost savings when compared to manual document processing.
This award is the third CogX Award that Eigen has won in recent years, with the company winning Best AI Product in Financial Services in 2021 and Best AI Product in Legal in 2019. This record demonstrates the success and relevance of Eigen’s technology across multiple sectors with clients such as Goldman Sachs, Allen & Overy and Swiss Re.
Dr. Lewis Z. Liu, Co-Founder & CEO, Eigen Technologies said, “We are absolutely delighted to win another CogX Award, this time in insurance, our fastest growing sector. The massive digital transformation going on in the sector is fueling demand for our technology, which resulted in our insurance revenue growing by 11x in 2021. There is some great thinking and innovation going on in insurance and we know AI software like ours has a big role to play in it. On a broader level, the fact that we have now won best AI product awards in financial services, insurance and legal just shows the flexibility and breadth of application for Eigen’s technology. We are also seeing great traction in supply chain/manufacturing, healthcare and other industries.”
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