Tag Archive: insurance

ai virtual agent

Many insurers are investing in artificial intelligence beyond the AI subfield of machine learning. Opportunities range from an enhanced customer experience (reduced cycle time, personalized advisers 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 enabler. Nevertheless,…

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insurance chatbo, virtual insurance software

Artificial intelligence (AI) and machine learning are the hot topics of 2018 across all industries, especially insurance and law. Although perceived as a relatively recent development, the term "artificial intelligence" was first used by U.S. computer scientist John McCarthy in 1956. To help its legal audience get a better handle on the subject, ALM's Legalweek 2018 New Yorkkicked off on Jan. 29 with a workshop titled, "The Foundation of AI and Machine…

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online agent for insurance, insurance ai

Insurers’ challenges are related to larger data volumes, the speed of the data, the complexity of the data, and also the need to turn this data into insights that improve workflow and have a positive impact on customer experience. In 2017, the artificial intelligence (AI) buzz grew in the insurance industry and we saw another significant uptick in insurance carriers starting IoT initiatives. That gives credence to Market Research Future’s forecast…

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insurance quotes chatbot, facebook insurance agent

Many insurers — especially regional players with deep ties to their local community — stress that customer service is a key differentiator for their business. Novarica’s position has always been that customer service and technology are not tangential, but rather they are one and the same: having quick access to agent and policyholder data, quoting and binding in real-time, and generating recommended contact opportunities are examples of the kinds of…

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virtual life insurance agent, chatbots for insurance

As artificial intelligence advances by leaps and bounds, one of the prominent questions in insurance and other industries is: Will bots take over my job? AI revolution The fear of an AI revolution is growing and is real. Numerous studies predict that certain professions will be gone in a decade, and many other workers will be replaced by software in the form of chatbots or other AI-based systems.When I am asked this…

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online insurance claims, chatbot for insurance claims

The concept of Straight-Through Processing (STP) has been around in the financial services market since the ‘90s. The idea is to reduce the need for human intervention and create fully automated business workflows that speed up transactions. Thanks to improvements in software tools and artificial intelligence, STP can now be effectively applied to insurance claims. STP enables carriers to be responsive, it reduces the risk of errors, drives down costs, and…

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Amazon Echo, automatic insurance agent

Insurance began as a social good. Over many decades, however, consumer trust in the industry eroded as policies became increasingly complicated, insurers became more aggressive in resolving claims, and customer service suffered. Today, advancements in natural language processing and machine learning algorithms are enabling machines to create human-like, digital conversations. And while the technology is still in its infancy, these smart machines are already able to interact directly with customers for…

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machine learning, machine learning insurance industry

The insurance industry is no stranger to machine learning and predictive analytics. In fact, it's arguably the most sophisticated, having pioneered some of the most advanced statistics and modeling techniques more than a hundred years ago. Practical applications Consider how these insurers use machine learning today:— Progressive Insurance is predicting claims from telematics and geospatial data;— Zurich Insurance is supporting marketing, fraud detection, and claims management; and— Transamerica is recommending products to…

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Elafris team, elafris news, About Elafris

SAN FRANCISCO—Elafris, Inc., the Artificial Intelligence communications provider, today announced the appointment of Christopher J. Hogan as Executive Vice President of Marketing and Business Development. The company’s AI-based platform brings intelligent, automated agents to the communication channels customers love like Facebook Messenger, SMS, and Amazon Alexa. As the company’s Marketing and Business Development chief, Hogan and his team will help shepherd Elafris through its next phase of growth, developing and…

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virtual insurance, artificially intelligent chatbots

In the Sixties, there was a quirky show called "Lost in Space," where one of the main characters was a robot. The robot was the surrogate guardian of one of the young space family members, Will. When the robot sensed a threat, it would mechanically say: "Danger, Will Robinson!" The robot looked like a refrigerator with dryer vent arms, but it could sound that alarm. The TV robot's ability to respond…

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