Eigen Technologies Wins CogX Award for Best AI Product in Insurance

NEW YORK and LONDON, March 17, 2022 Eigen Technologies (Eigen), the global intelligent document processing (IDP) provider, is proud to announce that it has won the 'Best AI Product in Insurance' category at the CogX Awards 2022. The awards celebrate the best-of-the-best in AI and emerging technologies across industry and society, highlighting the products and organizations that CogX believes are changing the world.

The insurance sector is undergoing a rapid digital transformation, with AI at its heart. As a result, insurance is now Eigen's fastest growing sector, with firms using Eigen's no-code AI-powered platform to automate manual processes in underwriting, policy administration, asset management, and in regulatory and compliance exercises. Eigen provides 50% faster access to better data and 80% cost savings when compared to manual document processing.

This award is the third CogX Award that Eigen has won in recent years, with the company winning Best AI Product in Financial Services in 2021 and Best AI Product in Legal in 2019. This record demonstrates the success and relevance of Eigen's technology across multiple sectors with clients such as Goldman Sachs, Allen & Overy and Swiss Re.

Dr. Lewis Z. Liu, Co-Founder & CEO, Eigen Technologies said:

"We are absolutely delighted to win another CogX Award, this time in insurance, our fastest growing sector. The massive digital transformation going on in the sector is fueling demand for our technology, which resulted in our insurance revenue growing by 11x in 2021. There is some great thinking and innovation going on in insurance and we know AI software like ours has a big role to play in it. On a broader level, the fact that we have now won best AI product awards in financial services, insurance and legal just shows the flexibility and breadth of application for Eigen's technology. We are also seeing great traction in supply chain/manufacturing, healthcare and other industries."

Contact

Thomas Cahn, Eigen Technologies
Email: tom.cahn@eigentech.com
Website: www.eigentech.com

About Eigen Technologies

Eigen is an intelligent document processing (IDP) company that enables its clients to quickly and precisely extract answers from their documents, so they can better manage risk, scale operations, automate processes and navigate dynamic regulatory environments.

Eigen's customizable, no-code AI-powered platform uses machine learning to automate the extraction of answers from documents and can be applied to a wide variety of use cases. It understands context and delivers better accuracy on far fewer training documents, while protecting the security of clients' data.

Our clients include some of the best-known and respected names in finance, insurance, law and professional services, including Goldman Sachs, ING, BlackRock, Aviva and Allen & Overy. Almost half of all global systemically important banks (G-SIBs) use Eigen to overcome their document and data challenges. Eigen is backed by Goldman Sachs, Temasek, Lakestar, Dawn Capital, ING Ventures, Anthemis and the Sony Innovation Fund by IGV.

About the CogX Awards

The CogX Awards celebrate the innovators and change makers impacting our world. Over the last five years the awards have become synonymous with innovation and the positive impact that technology can have. The awards multiple categories cover everything from the best AI products by sector to recognizing the individuals who are leading their industries into the next decade.