South West firm selected to lead UK machine learning project
Kindly contributed by Astley Media
A technology firm based in Exeter has been selected by the Government’s innovation research programme to lead a two-year study into machine learning and advanced data analytics.
Software Solved is one of the UK’s market leaders for software, online customer portals and real-time data solutions in the insurtech sector.
The firm, which is set for a 40 per cent increase in its workforce at its Exeter headquarters this year, has been selected by Innovate UK to run a major two-year research programme into machine learning and advanced data analytics in partnership with Plymouth University.
With the company’s expertise in data, the firm will work with the university to research and develop ways to use machine learning to intelligently automate the integration of large volumes of data, predict future risks using open data, and to analyse data to model the interactions between implementing risk mitigation programs and reduced ongoing claims.
Jon Stace, Principal Technical Consultant at Software Solved, said: “This is a fantastic opportunity to explore how machine learning can be applied to predict future risks at a level of precision that was unthinkable just a few years ago. Focusing on how we understand, measure and predict future risks, by applying machine learning, has the potential to improve how we assess, carry out and automate risk assessment across the insurance sector.
“We’re really looking forward to teaming up with Plymouth University and some of the key insurance brands, including RSA who will work with us on the project. It will feed into ongoing ‘risk’ work by the insurance industry and we will be reporting back to the Government via Innovate UK as we progress.”
Plymouth University is providing research expertise for the project, including a dedicated associate working alongside teams at Software Solved.
Ian Howard, Associate Professor at the University of Plymouth, said: “We’re excited to be collaborating on this challenging Knowledge Transfer Partnership project with Software Solved. The university is providing research expertise in the areas of machine learning and pattern recognition, data modelling, statistics and predictive analytics.”
The research project gets underway in the coming days, with Software Solved also keen to involve the South West’s business community. There are plans for workshops to be held, during the project, to help key regional companies understand the implications and applications of machine learning in their work. Interested companies are invited to contact Software Solved.
Martin Turner, Risk Consulting Director at RSA Insurance, said: “Having the ability to use machine learning to automate the assimilation of significant volumes of valuable data at our disposal enables us to forecast risk with a far greater degree of confidence. This allows us to more accurately deploy our risk management tools and resources to help reduce probability of future claims and further complement our customers’ own risk management efforts. This is the future for our industry and at RSA we are delighted to be involved in this ground-breaking project.”
The project announcement comes after a successful 2018 for Software Solved, which saw key new client acquisitions in sectors including insurance, retail, local government and energy. A Microsoft Gold partner, Software Solved, which also operates from offices in London and Bristol, has worked on over 1000 software development and data visualisation projects in 20 years.
The company is already working with six of the top 10 insurance companies, including RSA, AXA XL and AVIVA, and with key clients including Save the Children, The National Trust and Devon County Council. It is also continuing to diversify into emerging technologies including machine learning, augmented reality and data visualisation.
Jon Stace, of Software Solved, added: “This is about collaboration and shared learning that will put Software Solved and our partners at the forefront of machine learning and risk. It is also an opportunity to build on our already strong national offering of custom software development, data and integration solutions and online customer portals, as we continue with our ambitious growth plans.”
For more information about Software Solved: 01392 453333 and email@example.com
Photo caption: Group shot (L-R) Andy Treen and David Marshall, Knowledge Transfer Advisors, Ian Howard, Associate Professor and Aneeq ur Rehman, Project Associate, of the University of Plymouth, Jon Stace, Principal Technical Consultant and Tom Rooks, Lead Development, of Software Solved, and Luciana Dalla Valle, University of Plymouth Programme Supervisor.
About Software Solved
Software Solved are a Microsoft Gold Partner and experts in data visualisation and integration. With 20 years of experience, the company has delivered more than 1000 successful projects, integrating systems and helping organisations get better information across their organisation.
Working with PowerBI and other data visualisation tools, Software Solved develops and maintains tailor-made business intelligence solutions, data warehouses and customer portals for organisations large and small.
Software Solved: 01392 453333 and firstname.lastname@example.org
About Innovate UK
Innovate UK drives productivity and economic growth by supporting businesses to develop and realise the potential of new ideas.
We connect businesses to the partners, customers and investors that can help them turn ideas into commercially successful products and services and business growth.
We fund business and research collaborations to accelerate innovation and drive business investment into R&D. Our support is available to businesses across all economic sectors, value chains and UK regions.
Innovate UK is part of UK research and innovation. For more information visit www.innovateuk.ukri.org
About the University of Plymouth
The University of Plymouth is renowned for high quality, internationally-leading education, research and innovation.
With a mission to Advance Knowledge and Transform Lives, Plymouth is a *top 50 research university with clusters of world-class research across a wide range of disciplines including marine science and engineering, medicine, robotics and psychology. A twice winner of the Queen’s Anniversary Prize for Higher Education, the University of Plymouth continues to grow in stature and reputation.
It has a strong track record for teaching and learning excellence and has one of the highest numbers of National Teaching Fellows of any UK university. With 21,000 students, and a further 17,000 studying for a Plymouth degree at partner institutions in the UK and around the world, and over 100,000 alumni pursuing their chosen careers globally, it has a growing global presence. http://www.plymouth.ac.uk
* Research Fortnight Research Power League Table 2014.