Universal translator devices were invented on Earth shortly before 2151. The remarkable AI behind these handheld gadgets can decipher even unknown languages on the fly, after only the briefest of training.

True, at first the complexity of some unfamiliar alien languages required the intervention of a skilled linguist. On the USS Enterprise, this individual was Hoshi Sato, but she didn’t appear until Star Trek: Enterprise (not a patch on the original, which I’d watched and rewatched in reruns throughout my childhood).

This, of course, is only science fiction. That said, it’s very, very much closer than ever before. Almost certainly, the device you’re using to read this week’s Insurance Technology Diary is already programmed with software capable of voice recognition, instantaneous translation into scores of known languages (a free, cloud-native application), and, if it’s connected to something with speakers, a read-aloud function.

Together these three technologies (which didn’t exist at all when I secretly had the hots for Tasha Yar) can make a pretty good go of instantaneous voice translation. True, Siri will often say entrez arracher when all you want is Entreprise, but it’s still pretty amazing.

A system which can translate in this way after only few minutes of exposure to a new language is of course impossible. At least, it is now, in the same way that the real-time voice translation I just described was impossible as recently as the launch of Discovery in 2017. If we have to wait until 2151 for a prototype, I for one will be disappointed.

With technology moving so quickly, the behind-ness of the specialty insurance market is shocking. Because of our market’s sluggish adoption of tech, we really ought to salute any advance. That’s why I must mention here a bit of Trek-like comms technology which translates into tangible benefits for users by eliminating a genuine pain point.

Last week I had a demo of Adept, the ACORD Data Exchange Platform & Translator. (Yes, loyal readers; I am about to praise the standard-setter, although this is a product of their commercial applications division.) Adept solves a real problem, and it doesn’t even use AI.

Settlement has always been a pain point. After a policy or endorsement has been bound, the broker posts their opinion of the resulting premium debits or credits. Unfortunately these assumptions are not always the same as those made by the underwriter. Down the road, when things unwind, mismatches can require a time-consuming audit, or worse, spark disagreements over the quantum of settlement.

Adept solves it. Underwriters and carriers with platforms of almost any type can link to the communications exchange network via API to check the broker’s figures when binding. better, they can run the checks before (as long as the data has been uploaded, and both systems allow it). The process is straightforward, proactive, saves hours of future work, ensures data accuracy, and potentially eliminates future pain.
It’s a great example of how we can use technology to improve mundane processes, so they get done better and faster. That’s good for everyone, especially the client.

Which takes us (finally) to the point. You are probably not using Adept in your business. Whilst the bit of kit has proved popular, especially because it links seamlessly with market wide systems and processes which follow the accord data standard, many, many London market underwriters, brokers, and MGAs are not using Adept, nor any of the other similar communication tools which can translate and reconcile data instantly in real time.

Adept isn’t even new. It’s been around for years. That makes it hard to believe that any company in London’s value chain still allows credit and debit mismatches to fester. We need to foster (not force) wholesale Adept adoption, or the use of another, similar system.

For that, we have to want improved outcomes. We really shouldn’t wait until 2051.