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Gen AI in Code Generation - Xceedance Product Configuration Assistant

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16 May 2024

Abstract

ABOUT THE SHOWCASE

Gen AI is the hottest topic in the industry right now. Insurers are reaching out daily with questions and the need for advice through bootcamps, presentations, and requests for information about relevant vendors. We’ve created this showcase to allow insurers to see actual demos of available Gen AI products across the insurance value stream from a number of vendors.

ACCESS AND LENGTH:

The short introduction (2:01) is available to all. Click the image below to access.

The full demo (25:26) is available only with vendor permission. To access the full demo, please send an email to Karlyn Carnahan kcarnahan@celent.com and we’ll request authorization. Once you've been authorized, the webinar link below will be activated for you.

This demo includes an interview by Andrew Schwartz with Amit Tiwari, President – EMEA & APAC. Amit leads all re/insurance services, platforms, and products across the India and Poland service centers for Xceedance. Amit has more than 17 years of technical and functional experience in the insurance and retail banking industries. In previous roles at Xceedance, he led consulting services, technology delivery, product ideation, and global IT infrastructure management. Prior to helping launch Xceedance, Amit led the technology team for Berkshire Hathaway India. He was responsible for architecting and implementing the IT infrastructure for online sales, customer support, payment processing, digital marketing, and MIS. With several years of technology and insurance experience at IBM and RBS, Amit executed strategic projects spanning several geographies and operating entities. He transformed a rating platform, implemented a Solvency II regime, and managed legacy claims management system replacements for flagship UK insurance brands such as Direct Line, Churchill, Tesco, Prudential, Green Flag, and NIG. Amit graduated from the Indian Institute of Technology in Mumbai (IIT).

Overview of Product:

Xceedance has a Gen AI Offering that can be used in property casualty code generation. In most insurance organizations, product configuration for a policy administration system is a detail-oriented, time-consuming process that requires specially trained resources with deep business knowledge and technical ability.

Xceedance is changing the world of insurance product management. Our Product Configuration Assistant enables non-technical business users to navigate the complexities of insurance product development and management with ease by giving them the ability to generate policy configurations using conversational prompts. This eliminates hours of work that would otherwise have been devoted to manual code creation by experienced developers. As business users become citizen developers, they’re able to visualize the product quickly which optimizes the workflow since the business unit has hands-on experience with the process and the upcoming changes.

The GenAI Assistant leverages Natural Language Processing to gather the information it needs to generate new configuration code simply by having a conversation with the person making the request. It will continue to ask questions until it has the information it requires and learns from its human interactions. This ensures there are no knowledge gaps, resulting in higher quality code and shorter product testing cycles. The GenAI Assistant can have an enormous impact on developer efficiency and productivity, as expert developers are only required for complex algorithms or optimizations.

Xceedance is leading the way in redefining the insurance landscape, ensuring our customers can adapt and thrive in the evolving digital era. We’ve established a Center of Excellence for GenAI where we’re committed to developing and introducing high-ROI GenAI use cases across the insurance value chain.

For more information on how we’re driving innovation and transformation within the insurance industry, visit www.Xceedance.com.

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Generative AI and Large Language Models: A Snap Poll for the Celent Executive Panel

Natural Language Processing: The Next Frontier in Data Aggregation and Understanding

ChatGPT and Other Large Language Models: P&C Insurance Edition

ChatGPT and Other Large Language Models: Life Insurance Edition

THIS WEBINAR LINK WILL ONLY BE ACTIVATED WITH VENDOR AUTHORIZATION.

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