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Metareal Group Unveils Its New AI Agent for Insurance Product Risk Assessment

On June 12, 2023, Metareal Group, based in Chiyoda, Tokyo, announced the launch of its new AI agent, the Metareal Insurance Product (Metareal IP). This sophisticated tool is specifically designed to assist insurance companies' product planning and risk evaluation departments. By harnessing advanced AI technology, the Metareal IP aims to streamline the process of generating comprehensive risk assessment reports, a crucial component for insurers in today's fast-paced market.

Revolutionizing Insurance Product Design

Traditionally, when developing insurance products, the justification for risk evaluation and pricing had to be sourced from extensive and often outdated information gathered manually, including past incident data, industry benchmarks, and regulatory information. This reliance on labor-intensive methods poses significant challenges, particularly in a rapidly changing market environment where timely adaptation is key to maintaining competitiveness.

With Metareal IP, the dependency on manual data collection is alleviated. The AI agent automatically compiles industry risk indicators, current market trends, and regulatory updates, hence producing a risk assessment and pricing validation report within minutes. Outputs can be generated in versatile formats such as Word or PDF, aiding efficiency from product inception to internal validations and reviews.

This innovation not only enhances the quality of risk assessments and pricing strategies but also equips insurers with a data-driven approach to product design that supports rapid approvals and mitigates delays in product launches and potential revenue loss.

Key Features of Metareal IP

While some applications exist to compare insurance products or analyze securities, Metareal IP distinguishes itself by integrating internal data with external market insights and regulatory frameworks. Its ability to provide thorough risk evaluation reports automatically is a major leap forward in the industry.

• - Industry Coverage: Metareal IP encompasses a wide range of industry indicators, regulatory trends, and competitor activities, ensuring a well-rounded perspective.
• - Transparent AI Insights: The AI provides clarity on risk factors and pricing rationale, aiding stakeholders in making informed decisions.
• - Continuous Improvement: Through ongoing learning, the AI's accuracy in assessments continuously enhances over time, adapting to user needs and market shifts.

The ideal users of Metareal IP include project leaders and actuaries involved in new product development, managers responsible for pricing and risk management, and decision-makers overseeing internal review processes.

Strengthening AI Consulting Services for Various Industries

Metareal's commitment to industry-specific AI consulting is further underscored by the introduction of their AI generation series. Beginning with Metareal DD, they plan to develop tailored AI solutions across various sectors beyond finance. This series aims to address industry-specific challenges with accessible solutions that facilitate quicker and more efficient AI implementation.

One hallmark of Metareal's consulting approach is their emphasis on delivering “deployable AI solutions” that users will find practical and desirable. In fields like major media, historically seen as difficult for AI adoption, Metareal has achieved unparalleled success in deploying operational AI with remarkable speed. The key to their success lies in the extensive volume and rapidity of hands-on testing, allowing companies to overcome initial implementation hurdles.

Metareal AI Consulting Features

1. Specialization over Generalization: With experience spanning over 6,000 companies and 2,000 sectors, Metareal offers unrivaled industry-specific expertise.
2. LLM Coordination: Through their proprietary technology, Metareal AI LLM2, they integrate multiple large language models (LLMs) to meet diverse operational demands.
3. Global Insights: Leveraging global knowledge and experiences from North America and Southeast Asia, their solutions aim to incorporate successful international strategies into local frameworks.

Their consulting not only focuses on technological provision but prioritizes delivering usable AI solutions quickly and effectively. Companies contemplating AI implementation are encouraged to reach out for consultation.

For inquiries, please email: contact@metareal.jp

About Metareal Group

Metareal Group’s mission brings forward the vision to liberate people from constraints of location, time, and language. They hold the top market share in the translation industry within Japan, as noted by ITR's 2024 projections. Their AI development spans various fields, including law, medicine, finance, and IT among others, providing fully customizable AI solutions tailored to meet specific client needs.

• - Company: Metareal Inc.
• - URL: metareal.jp
• - Location: 3-7-1 Kanda Jinbocho, Chiyoda, Tokyo
• - Founded: February 2004
• - Services: Development and management of specialized document AI for various sectors.

For more contact: pr@metareal.jp