Artificial

Artificial Labs aids insurers, brokers and MGAs with the distribution, pricing and negotiation of risk using machine learning. The Artificial SaaS AI cloud platform consists of four key products - Build, Distribute, Price and Manage. It aims to improve pricing, risk management and claim automation, particularly in specialised insurance.

In April 2019 Artificial announced it had raised Seed funding, led by Alma Mundi Insurtech Fund and Force Over Mass. That same month saw the Department for International Trade (DIT) announced Artificial was to take part in the Hong Kong programme of its new Fintech Bridge Pilot Programme. The initiative aims to offer UK Fintechs the chance to receive support, mentoring and networking advice, and help break down barriers to international expansion, and lasts 10 months.

In May 2019, after taking part in Ping An's Cloud Accelerator, Artificial signed a consultancy agreement with Ping An Cloud, enabling Artificial to expand in the China market. Artificial also have a partnership with Capita Plc as part of the Capita Scaling Partners programme.

In July 2019 Artificial graduated from PwC's Scale Insurtech latest cohort.

In October 2019 Artificial launched its Beta Community, a private community for brokers and insurers to share thought leadership and gain early access to Artificial's new products. Artificial also aims to use to community to promote partnerships within the community, and develop product feature workshops.

The company partnered with Chaucer Holdings in March 2020 to launch a new underwriting platform that specialises in high-volume specialty products. The machine learning-powered platform will provide digitised quote, bind and issue capabilities.

Lloyd's Lab revealed Artificial to be part of its fourth cohort in April 2020.

In February 2021 Artificial announced it was extended its partnership with Capita Specialty, which first began in 2018, which provides clients in the Lloyd’s of London market with an end-to-end solution combining expertise and consultancy across the full insurance lifecycle. Capita Specialty own a minority stake in Artificial.

In June 2022 Artificial Labs raised $11.6M for continued expansion and platform development across its Smart Lead and Smart Follow underwriting offering. The company noted it had seen 'unprecedented growth' in 2021, forming strategic partnerships with Convex, Chaucer, Aon, AXIS and more, helping them make instant decisions or reduce bind time by up to 85%.

Artificial is headquartered in London, with an office in Warsaw, and Dubai.