10121503An AI/ML & neural networks based central intelligence platform that brings an innovative approach in reserves management and capital modelling for insurersClosedCollaborative R&DInnovate UKCapitawise is a UK-based insurtech led by a core project team of Akanksha Rais (Founder and Project Manager), David Burns (CTO), Ankit Goyal (SME, Actuary), Sumit Bagla (Technical lead Data Architect) and Ellen Stars (Advisor). The insurance industry's legacy capital management decision-making methods lead to a 15-25% variance in reserving funds, causing leakage of £20M-£50M for Tier-2 insurers and over £50M for Tier 1\. In 2023, this affected over 300 UK insurers, preventing improvement in combined operating ratio. The lack of granular data insights results in inaccurate predictions, leading to strained liquidity ratios and increased reinsurance needs in the short-term. Long-term, it raises claim costs for insurers, burdening end-users/taxpayers and potentially lowering their net- promoter-score (NPS). Capitawise is developing an intelligence platform that integrates historical learnings and current market insights for accurate data-driven decisions and capital modelling predictions. The innovative AI/ML platform enables insurers to model their capital in a granular and accurate way, resulting in annual savings of £30M-60M per insurer. The dashboard saves operational teams 5-7 hours per week on reporting and enhances their decision-making capabilities. Capitawise's intelligence platform will revolutionise insurers' decision-making process by integrating granular data insights into a unified view for their core teams such as claims, underwriting, capital modelling and finance, resulting in a 15% reduction in wastage and a 25% increase in operational efficiency. By improving insurers' decision-making processes, the innovation aims to raise service standards, fostering inclusivity for all consumers, regardless of age, gender and ethnic biases. The platform's data-driven transparent approach will increase trust and promote diversity within the industry, thereby empowering the public and enhancing their quality of life.