Closed-loop insulin delivery (artificial pancreas) is a recent medical innovation, aiming to reduce the risk of hypoglycemia while achieving tight control of glucose.
This is a very exciting innovation - but you need to be using an insulin pump - currently costing around $7000 and the government will not subsidise it.
Without any jargon, the artificial pancreas works with the insulin pump to deliver insulin based on an individual's blood sugar levels which are checked every 15 mins (approx).
When using an insulin pump on it's own the pump is pre-programmed to deliver insulin. When looped with the artificial pancreas (thus the word Looping) insulin delivery is modulated at intervals of 1 to 15 minutes.
Here's a pic to help explain.
Renza S explains how it has helped her here.