Author Archives for Elafris

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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The business of insurance is challenging. Highly complex, countless regulations and burdensome reporting, it also requires personalized service to each customer. Recent years have brought new riddles to solve, like commoditization and the digital revolution. For those who can manage these demands, it’s an industry that can be very rewarding. For the past decade consumers started to believe policies differ only by price. This insurance commoditization has been plaguing the…

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 The insurance industry has been undergoing a digital transformation for the past few years. The majority of attention has focused on three areas--the sales process, customer support, and back office workflow efficiencies. A relatively unaddressed area by this revolution is arguably the more important for one, the claims process. Digital transformation of claims is set to become a prime insurer differentiator in 2019. The recent history of increased claims volumes…

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Consumers who have encountered the past crop of smart AI assistants are waiting for better “intelligence” from these AI-enabled platforms. For companies developing digital assistants, the expectations are even more stringent--brands design scripts for customers to follow that seem, to the company at least, like they are intuitive and necessary. Users instead hope the virtual agent will understand their requests and answer in human-like, conversational language and in a meaningful…

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Insurance is not immune from the changes taking place in every industry from the new artificial intelligence (AI) technologies accelerating the digital revolution. Much of this advanced automation and “intelligence” seemed far off in the future but they have become mainstays in our business processes and our customers’ lives, barely warranting our notice anymore. From speaking to a phone auto-attendant about why we are calling, to systems that scan and…

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