Humn.ai and the University of Salford develop a unique autonomous vehicle insurance solution
Humn.ai and the University of Salford have successfully developed a unique autonomous vehicle insurance solution as part of a two-year knowledge transfer partnership.
Through state-of-the-art artificial intelligence (AI) machine learning, the team worked together to develop a solution to enable Humn.ai to prepare for the inevitable demand for autonomous vehicle insurance ahead of competitors.
With a deep bench of Finance Technology professionals who deploy and manage large data platforms in real time, Humn.ai operates in the Insurtech and Technology sectors with the mission to make insurance fairer.
Autonomous vehicles are anticipated to significantly influence the future of the insurance industry, with the potential for up to 94% of accidents due to human error to be eliminated, according to Harvard Business Review. This presents a challenge for insuring autonomous vehicles, with the current model focussing on human drivers becoming increasingly invalid – liability will shift from driver to systems and surrounding conditions.
Through the University of Salford Knowledge Transfer Partnership, a team from the school of Science, Engineering and Environment worked with Humn.ai to deliver research to determine the contributing factors to autonomous vehicle insurance. They developed a bespoke data analytics method to evaluate the impact of contributing factors, as well as devising the pricing model and coverage check list. The team then integrated the insurance model as part of Humn.ai’s product offering.
Dr Alejandro Garcia-Miranda Ferrari, collaborative R&D manager at the University of Salford, said: “At the University of Salford, we connect businesses with academic expertise to foster innovation and drive growth. Through collaborative partnerships, we ensure that our research not only meets the highest academic standards but also translates into practical solutions.
“It’s fantastic that the Knowledge Transfer Partnership with humn.ai has successfully made significant contributions to the growing industry of autonomous vehicles, as well as enhancing Humn.ai’s reputation as an innovator in the insurance market.”
Knowledge Transfer Partnerships (KTPs) are the UK Government's flagship scheme for collaborative research and development; a three-way collaboration between a business, an academic partner and a highly qualified dedicated researcher – known as the KTP associate. Substantial funding for KTPs is provided by Innovate UK, the UK’s national innovation agency, with the remaining covered by the industrial partner.
Chris Clarke, chief data scientist and co-founder at Humn.ai, said: “Our experience with the Knowledge Transfer Partnership has been highly beneficial. The in-depth expertise from the university faculty and the supportive staff facilitated a smooth and effective knowledge transfer. The partnership proved to be a practical way to enhance our understanding in key areas, contributing to our company's progress in developing autonomous vehicle insurance solutions.”
The University’s KTP with Humn.ai has now been awarded outstanding status by Innovate UK, due to the strength of the partnership and its exceptional results for all of the partners involved.
![Autonomous vehicles on a motorway](/sites/default/files/2024-08/Autonomous%20vehicles.jpg)
Professor Mo Saraee, the lead academic at the University of Salford, said: “I am immensely proud to receive this recognition from Innovate UK. We knew this was going to be a challenging project at the forefront of cutting-edge technology, however there was so much determination across the team to find a successful solution. This journey wouldn't have been possible without the dedication and hard work of my colleagues, Dr Tooska Dargahi and Dr. Meisam Babaie, and our associate, John Anih.
“My heartfelt gratitude extends to Humn.ai and their team for their steadfast support throughout this transformative endeavour. Together, we have exceeded expectations, marking a significant milestone in our pursuit of innovation and excellence.”
The KTP provides a full-time researcher – the KTP associate – as well as supervision from an expert academic with specialised knowledge, and access to the University of Salford’s cutting-edge research capabilities and state-of-the-art technologies.
KTP Associate, John Anih, said: “The project with Humn.ai was a thrilling journey through the fast-paced world of autonomous vehicles, providing a rich learning environment and the resources for me to grow as a researcher. This invaluable experience not only honed my skills, but also paved the way to a senior data science role at a leading Insurance company, marking a significant milestone in my professional journey.”
Find out how you can transform your business or get in touch to discuss how we can support you.
For all press office enquiries please email communications@salford.ac.uk.
Share: