VASS CONSULTORIA DE SISTEMAS S.L has been granted with a financial aid for its Research and Development Project named Advanced Risk Platform for the Insurance Sector (GEOINSURANCE). The Centre for the Development of Industrial Technology (CDTI) manages this financial aid that is co-funded by the European Regional Development Funds. 

The impact of the insurance sector is key today, since it affects all areas of the economy and people's lives. Managing risks and minimizing their consequences is a fundamental activity, which must be optimized with the latest available technologies... And in a world marked by climate change, this is more important than ever. Knowing the risk factors, their behavior and their influence on society is completely necessary. And for this we can resort to artificial intelligence and its amazing processing capacity. Only in this way can we offer adequate policies and make the pertinent decisions at all times. These are the keys to Geo Insurance.

The general objective of the GeoInsurance project is to investigate, design and develop an artificial intelligence engine fed by internal data (customer details, policy, etc.) and external data (geographic information, social networks, etc.), which allows predicting and/or recommend events that are likely to occur in the future, identifying the risk that they may impact the business. For this, it will be necessary to develop an event-driven architecture (based on Kafka), on which archetypes will be built to support different verticals such as Insurance This project will make it possible to generate a great impact in the insurance sector, and in this sense, putting oneself before risks helps to make better decisions. Something we can learn from insurance claims due to COVID and the problems caused by the pandemic.

Project info: 

⦁ Place of execution: Madrid

⦁ Execution Period (Start-End): 2022 – 2024

⦁ Budget: €777,394

⦁ Co-financing CDTI and European Regional Development Fund (ERDF).