Anthropic’s technology is being deployed by AIG, and the insurance giant is seeing results. 

“AIG has deployed our API solutions into their back-office claims processing workflows, and they were able to increase actual accuracy by 30% and also decrease time to process [claims] by almost 90%,” Nicholas Lin, head of product for financial services at Anthropic, told FinAi News. 

The efficiency gains are the latest milestones clocked by AIG as the New York-based insurer’s use of Anthropic has evolved as the technology matures, Chief Executive Peter Zaffino said during AIG’s fourth-quarter earnings call in February, noting that it started with Claude 2.0 and worked its way up to Opus 4.7 in April.

Building out finance-specific products is a newer venture, Lin said. “Maybe the past six or eight months … we’ve just seen massive acceleration and adoption.”

Goldman Sachs, RBC, Citi, Brex and JPMorgan are among Anthropic’s growing number of FI clients, according to the company.

Financial services is becoming Anthropic’s largest line of business outside of coding and technology, Lin said, adding that healthcare and life sciences are also leaders.

Team behind the growth 

Scaling the financial services business is underway and is being spearheaded by Lin and his team of 10 engineers, none of whom physically code, he said, noting that is left to AI. 

“My engineers probably haven’t written a single line of code by hand in a very long time,” Lin said. 

Instead, the engineers are responsible for managing teams of AI agents built on Claude, Anthropic’s flagship AI model, to ship products to some of the world’s largest banks, asset managers and insurers, he said. 

Having a small engineering team for financial services is “a feature, not a bug,” Lin said. “It really allows us to move very nimbly.”  

The lean setup has shifted engineers’ work away from manual coding and toward problem definition, rapid customer feedback loops and developing what he calls “taste” or the ability to understand what tools financial services clients might need, he said. 

The go-to-market team supporting the finance vertical includes “a couple dozen” sellers and activation specialists, making it AIG’s biggest industry-focused sales operations, he said.

Building the APIs and plugins is half the job, Lin said, adding that embedding those tools into the existing tech stack of a major financial services company and making custom adjustments for them requires go-to-market engineers. 

Anthropic raised $5 billion from Amazon in a series A funding round on April 20, valuing the company at more than $700 billion. According to recent reports by Yahoo Finance, the company’s value has hit over $1 trillion due to its sale of shares in the secondary market. 

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