Reduce Construction Risk With Artificial Intelligence And Machine Learning
By: Adam P. Handfinger and Kris Lengieza | Construction Executive
Last month AXA XL officially announced the launch of its new digital ecosystem built to help clients manage the risks associated with construction projects. This new platform integrates construction technology from several partners, including Document Crunch™, to provide builders and contractors with powerful insights to help mitigate risks and improve jobsite performance.
The Construction Ecosystem is designed to be a one-stop-shop for AXA XL’s diverse group of construction clients. It provides access to a suite of integrated technology, helping construction companies manage risk holistically—from early planning to ribbon cutting. The ecosystem currently includes technology from the following partners:
- Document Crunch™: AI platform to review and process construction contracts and insurance policies
- Procore®: Cloud-based, all-in-one project management platform
- Athenium Analytics: Site-specific weather risk analytics & industry benchmarking
- Sedgwick: Claims benchmarking & analytics
- Triax: Worker wearables & sensor technology
- Smartvid.io: Jobsite predictive analytics & AI-enabled risk identification
- Pillar Technologies: Environmental data sensors, collection & alerts
- OnSiteIQ: Construction visual data capture & risk assessment
- WINT (Water Intelligence): IoT platform using AI to detect & stop leaks at the source
- SmartPM: Project Scheduling and Analytics Platform
- Proxxi: Haptic-enabled wearable voltage sensor
- OpenSpace: Automated 360 video jobsite capture and mapping
These partnerships with AXA XL not only help expand the reach of our construction risk analytics, but also provides key data to enhance partner technologies as well. In addition, the Document Crunch™ integration with Procore® provides customized solutions for contractors.
Gary Kaplan, the president of AXA XL’s North America Construction business, said:
“Contracts have a big impact on minimizing risks to a contractor’s overall operations, protecting their reputation, profitability and more. That’s why we’re excited to be working with Document Crunch to give our clients access to a new AI solutions that helps them quickly and efficiently evaluate contract forms to assure solid protection.”
The Construction Ecosystem launches this month for select clients and is slated for wider release later this year. Document Crunch™ is proud to be an ecosystem partner, working alongside many other innovators from the artificial intelligence and construction law sectors. “We look forward to helping AXA XL deliver next-generation construction insights to clients across North America.” said, Document Crunch™ co-founder, Adam Handfinger.
About Document Crunch™
Document Crunch™ harnesses state-of-the-art artificial intelligence technology and leverages it to help reduce cost, increase speed, and improve the overall quality of contract and policy reviews. For each document type offered, Document Crunch™ is trained to quickly identify what Industry Curators and Advisors believe are the most important provisions for review. In addition, Industry Curators provide key insights and rationale, as well as sample contract provisions and other language, allowing the client to participate in the collective experience.
About AXA XL
AXA XL, the property & casualty and specialty risk division of AXA, provides insurance and risk management products and services for mid-sized companies through to large multinationals, and reinsurance solutions to insurance companies globally. We partner with those who move the world forward. To learn more, visit www.axaxl.com