Collaboration will create digital interactions via artificial intelligence and natural language processing
Montreal, QC (Apr. 20, 2022) – Applied Systems is pleased to announce a new collaboration with Koïos Intelligence to optimize and simplify insurance sales and service processes with artificial intelligence and natural language processing. The integration between Koïos Intelligence and Applied Epic and Applied Rating Services will enable brokers to deliver a voice-enabled virtual assistant for customer quoting, creating a faster and more digital customer experience.
“A decade ago, most people viewed the idea of machines understanding the human language as science-fiction,” said Mohamed Hanini, founder, CEO & chief technology officer, Koïos Intelligence. “The breakthrough of Natural Language Processing, which is one of the biggest success stories of Artificial Intelligence (AI), changed the way we interact with systems. However, operationalizing AI in insurance and interfacing it with legacy systems are still very challenging. We are glad to announce our collaboration with Applied Systems, which creates a powerful synergy between Applied’s ecosystem & Applied Epic and our fully contextualized voice-enabled virtual assistant.”
“Rogers Insurance is constantly looking to provide a great user experience for our customers and prospects,” said Lloyd Freiday, vice president of Information Technology, Rogers Insurance Ltd. “We’re currently working with Koïos Intelligence on its Olivo AI technology to expand our reach and improve user engagements through a digital, multi-platform solution. Koïos’ technology greatly enhances interactions with users through the chat function due to the program’s advanced language processing and speech recognition that is better able to answer a multitude of insurance-related questions.”
Koios Intelligence is now integrated with Applied Rating Services, Canada’s comparative rating service for insurance brokerages, and Applied Epic, the world’s most widely used brokerage management system, to bring artificial intelligence and natural language processing to simplify the insurance quoting, sales and renewal process. Brokers can integrate the voice-enabled virtual assistant with their web or phone to allow for smooth, human-like digital interactions with consumers to meet them where they are. Once data is collected via the virtual assistant, Applied Epic and Applied Rating Services work together to bring the prospect through the customer journey from quoting back to remarketing, creating digital experiences for both the prospect and broker that accelerate the sales cycle and improve customer service.
“Insurance customers and brokers alike want digital solutions to automate the manual, time-consuming challenges they face in the sales and renewal process,” said Steve Whitelaw, vice president and general manager, Applied Systems Canada. “Access to AI through Koïos Intelligence platform voice and phone-enabled technology will enable brokers to enhance their role as trusted advisors and provide consumers with faster service when quoting.”
About Applied Systems
Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and the innovation leader, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom. By automating the insurance lifecycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most. For more information, please visit appliedsystems.com.
Founded in 2017, Koïos Intelligence’s mission is to empower the insurance and financial industry with the next generation of intelligent and customized systems that are supported by Artificial Intelligence, statistics and operational research. Combining the knowledge of our lead experts in Insurance, Finance and Artificial Intelligence, Koïos is developing new technologies that redefine the interactions between insurers, brokers and customers. For more information, please visit koiosintelligence.ca.
Source: Applied SystemsTags: Applied Systems, Artificial Intelligence (AI), InsurTech, InsurTech Spotlight, Koios Intelligence, natural language processing (NLP), partnership