Codeoscopic uses AI to derive predictive models to help insurance intermediaries improve their business strategy
- The technology company is carrying out this development thanks to grants for research and development projects in Artificial Intelligence (AI) and other digital technologies.
Nowadays, the amount of data that a company handles is constantly increasing. The challenge is to convert this data into useful information for the company to gain competitive advantages. In this context, Codeoscopic has been working for some time with its ‘Big Data’ application Versus Analytics, now it goes one step further with the ABMS 3.0 project.
Codeoscopic Group is part of the C005/21-ED grants for research and development projects in artificial intelligence and other digital technologies and their integration in value chains. This project is part of the Digital Spain 2025 Plan, which promotes the Digital Transformation of Spain as one of the fundamental levers to relaunch economic growth, reducing inequality, increasing productivity, and taking advantage of all the opportunities offered by these new technologies.
The programme is developed with the Recovery, Transformation and Resilience Plan of the Spanish economy, a fundamental instrument for the development of the European recovery funds “Next Generation EU”.
In this framework, Codeoscopic applied for grants through the Red.es call for research and development projects in Artificial Intelligence and other digital technologies and their integration into value chains.
Codeoscopic’s initiative is called ABMS 3.0 and develops artificial intelligence to include in its solutions predictive elements that streamline operations and personalisation of services in the tools available to the insurance broker.
Part of the research and development is being carried out with the University Institute for Biocomputing and Complex Systems Physics Research (BIFI) of the University of Zaragoza under a collaboration agreement.
The project is expected to end in December 2023 with the result of different predictive models that will help insurance intermediaries to improve customer management, products and business strategies.
CODEOSCOPIC is the insurtech parent company of a group of companies in which Innova Ibérica is integrated, and which develop technology focused on the insurance sector. Its suite of Codeoscopic Workspace solutions includes Avant2 Sales Manager, a multitarification platform used by nearly 1,700 brokerages and more than 50 insurance companies, and which is the leader in connectivity in the Spanish insurance sector. Tesis Broker Manager, an ERP for brokerages in SaaS format. Versus Analytics, a real-time big data tool for the insurance sector, and Bcover, a risk management programme for brokers developed by Innova Ibérica..