National brokerage PLATFORM Insurance Management has partnered with risk management technology firm Provision to benefit its construction and real estate clients.
The offering automates the review process while supporting better decision-making and proactive risk avoidance. It is also designed to easily integrate with clients’ existing systems.
“At PLATFORM, we prioritize innovation and delivering advanced solutions to empower our clients in navigating complex risks effectively,” PLATFORM chief executive Charles Quenneville, FCIP, said.
Provision leverages sophisticated artificial intelligence (AI) and machine learning technologies to streamline the contract review process.
Using natural language processing, it can dissect intricate legal documents, pinpoint essential clauses, and spotlight potential hazards. The platform provides users with a prioritized risk evaluation, customizable workflows, tools for collaboration, and detailed analytics.
The tie-up between PLATFORM and Provision is poised to deliver significant advantages to clients, including enhanced risk evaluation, better compliance, and a reduction in legal risk exposure. PLATFORM’s clients will also benefit from exclusive discounts on Provision’s services.
“We recognize the increasing importance of streamlined risk management processes, therefore seeking a partnership with cutting-edge technology and expertise to enhance our services,” Quenneville said.
“Provision’s advanced AI-driven contract review platform aligns perfectly with PLATFORM's commitment to excellence, offering a solution that enhances efficiency and precision in contract analysis.”
Provision co-founders Brendan Ardagh and Luigi La Corte, in a joint statement, noted: “We are thrilled to join forces with PLATFORM, a visionary leader in the insurance industry. Together, we have the opportunity to revolutionize risk management practices, leveraging cutting-edge technology and strategic insights to drive tangible outcomes for our clients.
“This partnership marks a significant milestone in our journey to reshape the future of risk management."
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