Author Archives for Elafris

Artificial intelligence (AI) is set to revolutionize the insurance industry and it is coming to every carrier, agency and policyholder. AI, at its most basic understanding, is the mimicking of human behavior:LearningTalkingListeningSeeingFeeling (Sensing)AnalyzingThis definition is simple enough to understand. Where things really take off is when the complexity within these elemental skills increases or in the combination of these elements. Then we begin to understand how AI’s application can be something…

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Our lives are changing rapidly, driven by the technology we now use on a daily basis. It seems like this digital transformation just started but it's is not new. It's been underway for twenty years and is now upending many long-standing practices in sectors like finance and insurance. We may have forgotten but the addition of tech to the insurance and financial sectors has been a consistent progression, a stream of…

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Talking on the phone is taking a backseat to all of the other ways we can communicate. Writers lament over the loss of our shared habit of jumping to answer the phone, but with the number of robocalls surpassing 3 billion per month in the U.S., we may have been driven away from using the phone, or even listening to voicemails. Sales calls, scams, pollsters and politics seem to ring the…

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View of a futuristic city at night through a crystal ball.

Viral...Runaway... ...are weighty and sometimes alarming descriptors for recent changes infiltrating the property & casualty insurance field. Month by month new tools for insurers are coming to market. From established companies expanding their product lines to upstart insurtech entrants, insurance vendors are bringing a fresh set of capabilities to the industry. Insurance AI versus ROI The tough task for agencies and carriers alike is knowing exactly where to invest in…

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Casual discussions over drinks or after meetings turn more and more to fears that artificial intelligence is destined to put us all out of work. It may not be time to queue up for government cheese just yet. As with other game-changing technologies, the need for the creativity and the human touch is evergreen. For a long time, the insurance industry has supported a few well-integrated ecosystems. Within these arrangements,…

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The insurance industry has helped drive new technology and automation since the earliest days of telephones and computers. Within memory is the era of data processing and room-filling  mainframe computers with their army of keepers. The industry’s voracious appetite for better and faster data computation pushed the advances in computer memory, parallel processing, and new computer languages and paradigms. This first-wave of digital transformation transformed the industry but at huge expense…

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Artificial intelligence in property & casualty insurance has become pervasive. Most information about this in the press focuses on improving front office functions, helping customer service handle the tens of thousands of customer interactions, or on powering new capabilities to glean insights from the industry’s voluminous data stores. But now the light has begun to shine on how artificial intelligence can transform property and casualty claims. What about artificial intelligence for…

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Woman chats with a virtual agent on her smartphone.

Provocateurs seem to shout bleak warnings about society’s ruin at the hands of our future robot overlords. Even the likes of Elon Musk, CEO of Tesla and SpaceX, the private spacecraft company, is issuing dire warnings about it. All of this may amount to useless hype and hand wringing. What many people don’t realize is that artificial intelligence assistants are already living and working out among us. These docile servants…

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Intellectsoft, a boutique digital transformation consultancy providing cutting-edge engineering solutions for global companies and emerging technology leaders, today announced a partnership with one of the AI and RPA leading brands in financial technology industry – Elafris.  Through synergistic combination of innate expertise, this alliance is enabled to deliver high-quality solutions for the insurance industry, helping providers perform digital transformation of their operations in an impactful and meaningful way. Michael Minkevich,…

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The acceleration of the pace of life from the digital revolution puts insurance workflows in stark contrast, with its manual processes, patchwork of poorly coordinated systems and days and weeks to get anything accomplished.  For consumers, everything around dealing with insurance is viewed as a chore, an imposition.Despite ongoing efforts to improve services incrementally and develop extensions and variations on insurance products, the industry seems to have kept its feet…

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