News
Creating the future of insurance.
This is what happens when partners share a vision to bring insurance and AI together to become a force for good.
In November 2022, we embarked on an extraordinary journey alongside our parent company, Aioi Nissay Dowa Insurance, and our AI partner, Mind Foundry, to launch a joint venture: the Aioi R&D Lab – Oxford.
The mission of the lab is simple: to bring humans and AI together to create shared value around the world. By harnessing the power of AI, the lab is pioneering game-changing insurance solutions and taking on the most pressing global challenges of today and tomorrow, from autonomous mobility and climate change to the continued ageing populations.
Creating shared value through digital transformation.
While our aspirations are ambitious, they are rooted in a deep sense of responsibility. By combining the cutting-edge capabilities of world-renowned Oxford professors and researchers, AI provided by Mind Foundry, and the insurance expertise of Aioi Nissay Dowa Insurance, we continuously pursue the development of new insurance models, products and services – not just for our own benefit, but to create shared value for all of society.
At the core of our commitment is the vision to “Create Shared Value through Digital Transformation” (CSV x DX). In our rapidly changing world, we see insurance as a dynamic force for good, one that continuously adapts to meet society’s evolving needs and challenges with technology-driven insurance solutions. Fuelled by this vision, our goal is to enhance the collective welfare of both our customers and broader society; forging a path towards a more prosperous and safer tomorrow.
Using the right tool, for the right purpose, at the right time has always contributed to a more successful outcome. With the expertise of Mind Foundry, and the vision from AND-E, we're working towards using AI in a responsible way for the benefit of our customers and internal stakeholders.
Phil Norris
Chief Product Innovation Officer, AND-E
The team
Alongside experts from Mind Foundry and AND-E, the Aioi R&D Lab – Oxford is supported by an advisory board of world-renowned professors from the University of Oxford, with expertise across many disciplines that sit at the heart of the transformation facing society and insurance over the coming decades.
While advanced algorithms offer immense power, they demand equal responsibility. Our approach ensures that every step of an algorithm is tested, verified, and adheres to our principles of responsibility. We believe this is the only way to use advanced AI for the collective benefit.
Stephen Roberts
Oxford Professor and Mind Foundry co-founder
The research conducted at the lab focuses on the most pressing global-scale societal challenges, including:
Mobility for all
Developing insurance products that protect people across multiple modes of transportation to reduce risk, traffic accidents, and CO2 emissions.
Autonomous Driving
Developing models of insurance for autonomous vehicles, including complex self-driving algorithms and vehicle sensors for tailored coverage.
Future of insurance
Developing the next generation of telematics-based insurance, personalised, and AI-based insurance.
Climate
Developing solutions to reduce carbon and energy use in transport, preserve biodiversity, and gain a better understanding of the risks associated with climate change.
Health and wellness
Developing solutions to help society deal with ageing populations and extend wellness and healthcare.
Mind Foundry is dedicated to tackling high-stakes problems with AI, and the insurance sector not only affects our lives on a personal and global level, but also drives long-term economic and societal change. We could not have better partners for this R&D lab as we tackle these industry challenges.
Brian Mullins
Mind Foundry CEO
Cognitive decline and large loss
Today, more than 4.6 million people in Japan and nearly 1 million people in the UK are living with dementia, a condition that disproportionately affects the older population. To help combat this challenge, the Lab is working to develop an innovative way to identify the signs of cognitive decline in older drivers before an accident happens. The Cognitive Decline project builds upon previous work that has already had a transformative impact on business: the ability to detect and potentially prevent, large loss incidents.
Quantum Computing and generative AI
Quantum computing promises a revolution in solving complex issues related to motor insurance and telematics data. It enhances traffic flow optimiszation , refines road risk assessments, and aids real-time emergency coordination, benefiting insurers and communities alike. Generative AI, particularly large language models, transforms unstructured data like claims documents and customer interactions into valuable insights. This has the potential to significantly expedite claims processing and bolster fraud detection capabilities.