AI tool accelerates AXA Commercial’s response to RAAC issue
AXA Commercial is using advanced AI technology to address the potential hazards associated with reinforced autoclaved aerated concrete (RAAC) in buildings.
RAAC, a lightweight form of concrete primarily used from the 1950s to the mid-1990s, is known for its reduced strength and durability compared to traditional concrete. In England and Wales, over 100 schools were forced to close their buildings due to the presence of RAAC in their construction. To determine whether any of the buildings insured or occupied by their customers were affected, AXA Commercial faced the task of reviewing more than 70,000 multi-page documents.
AXA Commercial used AI to expedite the assessment process. They trained their AI system to grasp the concept of RAAC construction and identify potentially affected buildings within a matter of hours.
The initial AI scan pinpointed 65 cases that potentially contained references to RAAC. AXA Commercial then carried out a desktop review of the reports. Ultimately, four cases were confirmed to involve RAAC construction.
Bottom Line: The entire process, from the initial scans to final confirmation, was completed in just one week. Now, AXA underwriters are working with the affected customers to discuss next steps.