InsTech - insurance & innovation with Matthew Grant & Robin Merttens

Graeme Asquith, UK Managing Director: mea platform: Designing an intelligent processing platform for insurance (342)

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Feb 16, 2025

Graeme Asquith, UK Managing Director at mea platform, discusses how AI and machine learning are revolutionizing insurance document processing. He highlights the shift towards algorithmic underwriting, emphasizing the necessity of automation for efficiency. Graeme shares insights on extracting data from unstructured documents and the importance of partnerships with industry players like Accenture. He also explores future trends in insurance technology and how swift, accurate AI solutions can redefine underwriting and claims management.

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ANECDOTE

MIR's Founding

MIR was founded in 2021 by Martin Henley, ex-CIO of XL Catlin.
It combined insurance expertise with AI talent, focusing on industry-wide problems.

INSIGHT

Document Extraction Approaches

The insurance document extraction space has three main approaches: insurers building their own solutions, generic IDP solutions, and insurance-specific AI.
Insurance-specific solutions are becoming dominant due to superior accuracy, speed, and cost-effectiveness.

ADVICE

Focus on Ingestion

Focus on document ingestion as the starting point for automation in insurance.
Automating downstream underwriting and claims processes after ingestion offers substantial benefits.

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AI-driven automation is transforming how insurers process data, streamline workflows and improve decision-making. In this episode, Robin Merttens speaks with Graeme Asquith, UK Managing Director at mea Platform, about how AI-powered document ingestion is changing the game for underwriting and claims.

With advanced machine learning models trained on millions of insurance documents, mea platform enables insurers to extract key information instantly—reducing manual processing, improving accuracy and accelerating business decisions. Robin and Graeme also discuss the rise of algorithmic underwriting, the role of AI in digital distribution and what’s next for the insurance industry as automation becomes a competitive necessity.

Key Talking Points:

From consulting to AI – Graeme's career path and transition into insurance technology
How mea platform extracts data from insurance documents using AI and machine learning
Automating underwriting workflows – turning unstructured data into actionable insights
The rise of AI-driven ingestion – why it’s becoming a must-have for insurers
Three approaches to document processing – build, generic IDP, or insurance-specific AI
Speed and accuracy – how mea achieves high extraction precision out of the box
Scaling AI in insurance – implementing solutions quickly without heavy IT investment
Beyond ingestion – how automation and intelligence are shaping underwriting and claims
Partnering for success – mea’s collaborations with Lloyd’s, Accenture, and Solos Consulting
The future of insurance AI – from digital trading to algorithmic underwriting and beyond

If you like what you’re hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. You can also contact Graeme Asquith on LinkedIn to start a conversation!

Continuing Professional Development

This InsTech Podcast Episode is accredited by the Chartered Insurance Institute (CII). By listening, you can claim up to 0.5 hours towards your CPD scheme.

By the end of this podcast, you should be able to meet the following Learning Objectives:

Specify the differences between generic document processing tools and insurance-specific AI solutions.
Define the challenges insurers face in handling unstructured data and the benefits of automation.
List the key inefficiencies in manual data extraction and how AI-powered solutions address them.

If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 342 page of the InsTech website or email cpd@instech.co to let us know you have listened to this podcast.

To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.