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CFC’s AI-augmented underwriting cuts costs tenfold

George Beattie and Chris Mullan

CFC’s first agentic underwriting system has returned tenfold cost savings, according to the specialist insurer.

Following the pilot launch of Lane Assist earlier this year, which takes submissions from email to quote recommendations “within seconds”, Chris Mullan, head of data and AI at CFC, pictured right

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Guidewire pays £1.2bn for Hyperexponential

Guidewire is set to buy Hyperexponential for $1.7bn (£1.27bn), with $400m (£300.05m) more payable if recurring revenue targets are hit, as it looks to ‘define’ the use of artificial intelligence in underwriting.

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