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The Travelers Cos. announced Thursday that it is teaming with Google Cloud to create a cloud-based system to help underwriters evaluate risks at large and middle-market businesses.
Built on Google Cloud, the system will integrate data from multiple sources and use artificial intelligence to provide a risk profile of prospective accounts.
“Insurance companies are rich with proprietary data, but there’s an abundance of new and developing third-party data that’s becoming increasingly valuable to underwriters,” said Henna Karna, managing director, global insurance, reinsurance and risk management industry solutions, at Google Cloud, in a statement.