Luminance, the pioneer in ‘legal-grade’ AI, today announced that leading US-based insurance provider, Shelter Insurance, has adopted its award-winning technology to enhance internal contracting processes.

With operations in 21 US states, the lean legal team at Shelter receives and negotiates third-party contracts every day. Shelter sought a next-generation AI technology that could help its busy legal department to accelerate contract negotiations, reduce contract bottlenecks and improve turnaround times. The team subsequently chose Luminance for its ability to supercharge the contract negotiation process.

The legal team at Shelter will now benefit from Luminance’s revolutionary ability to take a first pass review of any contract under negotiation. Luminance’s AI-powered Traffic Light Analysis (TLA) visually indicates where terms differ from previously agreed wording, enabling the legal team to ensure compliance with both internal standards and external regulations. With Shelter’s lawyers spending less time on the manual review of standardised contracts, they can allocate resource to more complex legal matters that demand their expertise.

Also critical to Shelter’s adoption of Luminance was the technology’s ability to centralise institutional knowledge. Luminance’s sophisticated supervised machine learning allows the AI to update its knowledge of agreeable terms as organisational standards change. Luminance retains and applies this knowledge to future negotiations, ensuring Shelter can improve compliance and facilitate knowledge-sharing across its in-house legal team.

David VanDyke, General Counsel at Shelter, commented: “Luminance impressed our entire team from the first demonstration. We immediately recognised its potential to address many of the pain points our team faces every day. With AI-powered contract negotiation at our fingertips, we can better focus our time and resources on high priority tasks. Further, Luminance’s ability to centralise key contract data will prove essential in democratizing knowledge across the whole team.”

Eleanor Lightbody, CEO of Luminance, added: “I’m thrilled to welcome Shelter Insurance to the growing list of US companies adopting Luminance. AI is giving future-facing organizations like Shelter a competitive edge in a notoriously tight market. I’m excited to see the value that Luminance will deliver for the team.”

ENDS

About Shelter

Shelter Insurance® is a group of companies with four personal lines property and casualty companies, a reinsurance company and a life insurance company. Shelter markets through Shelter Insurance®, AmShield Insurance®, Haulers Insurance and offers auto, home, life, farm and business insurance services to customers in 21 states via a network of more than 2,000 local insurance agents and 2,100 employees. The firm’s headquarters is in Columbia, Missouri.

About Luminance
Luminance is the Contract Intelligence platform that turns the language that defines a business into the intelligence it runs on. Born out of the University of Cambridge and purpose-built by AI, legal and technology experts, Luminance understands the history and context of every contract. It acts on that intelligence, proactively surfacing risk, flagging obligations, accelerating negotiations and driving action across Legal, Finance, Procurement, Sales and the wider business. It enables enterprises to learn from their contracts, while contracts learn from the enterprise, helping businesses make better decisions and move forward with confidence.