Author Archives for Elafris

When is a phone not a phone? When it’s in the hands of today’s customers.  In our daily lives, we have shifted from talking to typing to communicate using our phones. This transition was swift for Millennials and Generation Z who text three times as often as making a call. But even older smartphone users, up to 55 years old, text twice as often as they call. It’s only natural…

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virtual insurance agent

Insurance is the latest industry to see an acceleration of digital innovations that are transforming the way carriers and agencies operate. From chatbots for insurance to big data to detect fraud, advances in artificial intelligence, machine learning and data science have arrived in the form of products and services ready to integrate into the current insurance business. More than an app or website, these powerful tools can help improve back-end…

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top chatbots for insurance

Artificial intelligence and sophisticated automation are enabling businesses to jump ahead of the competition and increase operational efficiency. Insurers of all types are building chatbots and virtual agents (VAs) to save on overhead, increase customer satisfaction and bring products to market sooner. Research hints this is just the tip of the iceberg for insurer virtual agents. VAs translate and integrate effortlessly with messaging apps. These apps, like Facebook Messenger, WhatsApp…

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chat bot insurance

AI agents for Insurance & Financial sectors brings new life to online tools Interest Dropping for Online Finance Tools The first wave of online personal financial management tools were good but they have failed to hold customers’ interest. Financial institutions were hopeful customers would find these aids helpful on a continuing basis. Unfortunately, they have fallen far short of these early, idealized expectations. So now financial institutions including banks, brokerage…

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Server stacks for artificial intelligence systems

Insurer Transformation via AI's Online Agents and Operations Optimization Insurance carriers are embracing emerging technologies more and more on their way to conquering the industry's digital transformation. At the same time, Artificial intelligence (AI) solutions have matured into robust but approachable investments that can help with this change. Insurers are prioritizing AI technology projects into their core functions now that artificial intelligence products offer wide-ranging applications for insurance, from virtual insurance…

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AI application

Research shows that consumers want an interactive digital financial coach, but most are still stuck with static online banking. Discover how the industry’s most innovative companies are using AI and machine learning to build financial solutions and apps to attract and engage today’s evolving consumer. Consumers in every generation, from millennials to boomers, are worrying about their financial health more than ever. There’s a wealth of information out there to…

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ai virtual agent

Many insurers are investing in AI beyond ML which is one of its subfield. Opportunities range from an enhanced Customer Experience (reduced cycle time, personalized advisors through chatbots, fast track Claims management), to productivity efficiency, pricing sophistication, churn risk anticipation and accurate Fraud detection patterns. Insurers can either build internal capabilities, partner with start-ups on these fields or do both to accelerate time to market impacts. AI is a great…

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AI platforms, AI chatbot

Capitalizing on technology for customer experience, starting by mapping the vision of clients and matching it with their knowledge to make personalized products and services in real time, is what the Fintech movement is all about. Companies like Amazon, Netflix, and Alibaba have the best customer relationship models today. They’re on the top because of their extensive use of digital technology and analytics to improve their marketing and sales process,…

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RPA for insurance

With Gartner predicting that by 2020, 85 percent of customer interactions will be managed without a human, it’s no surprise that chatbots are expected to bring about a customer experience revolution. Chatbots will be on the frontline of customer service, solving many of the challenges businesses face in scaling their operations to serve millions of customers, 24 hours a day. According to Juniper Research, companies will reap annual cost-savings of…

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chatbot for banks, chatbot development for banks

Artificial Intelligence (AI) has become a finance buzzword since 2016 and reports abound on how AI is an integral part of technology budgets, as well as the key technology force that will reshape strategy in coming years. However, AI is not an entirely new to banking as it is made out to be. Various terminologies associated with AI like machine learning, cognitive learning, natural language processing, primarily aimed at bringing…

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