InsurTech Spotlight: Koïos Intelligence

Koïos Intelligence

Company: Koïos Intelligence

Website: koiosintelligence.ca

Business Category: A technology provider of InsurTech tools to insurance practitioners

Maturity Status: Startup (less than 3 years since product went into production)

Product or Service: Olivo voice-enabled platform

Area: Both Property & Casualty insurance and Life & Health insurance

Koïos Intelligence delivers the next generation of smart systems. Simply put, we use Artificial Intelligence and Natural Language Processing to optimize and simplify the interactions within the insurance industry. Using the latest technologies, Koïos Intelligence develops virtual assistants that reinvent the customer experience and optimize processes for insurers and brokers alike.

Our focus is to speed up your insurance business with tailored products that streamline processes, from client advice and sales to policy management and claims processing, all while your employees concentrate their energy to manage tasks that are essential to meet your company’s growth target. We drive our customers to turn their data into business value by applying interdisciplinary technology from fields such as mathematics, statistics, operations research, optimization, and artificial intelligence to solve real world problems for businesses and industry.

What makes us an InsurTech:

Based on Natural Language Processing Deep Architectures, our product “Olivo” is a cloud-native application. The conversational AI platform is trained with a database of over 100,000 variated questions and answers collected from the insurance industry. Our platform is built for insurance customers with the purpose to eliminate waiting time, reduce the operational costs, and offer an unprecedented customer experience.

Based on Natural Language Processing and state of the art Artificial Intelligence, Olivo is made to respond to new customer expectations in today’s digital world. Our virtual assistant available in French, English and Spanish, helps clients choose the insurance policy that best suits them, streamlines the underwriting and claims process, and manages all interactions between clients, brokers and any other intermediaries.

Finally, our platform automates client data collection promoting cost reduction and efficiency by eliminating repetitive and time-consuming tasks.

Major features & technology used:

Our platform uses the latest Conversation AI and Machine Learning methods to allow for smooth, humanlike interactions with its users. The voice-enabled chatbot analyzes speech and text inputs, enabling organizations to automate simple user’s queries, uncover business opportunities & key issues in the customer journey pipeline and facilitate the training of sales reps. Olivo uses Intent Classification and Response Prediction to answer client questions adequately based on their historical conversations. Our virtual assistant Olivo also tackles the quotes and the underwriting processes for Life and Non-Life insurance, thus speeding up the underwriting process as a whole. From a broker’s point of view, the platform saves time and effort, and keeps track of customer satisfaction and interest levels using Sentiment Analysis thus allowing for predictive analytics when assessing high-potential leads.

About Koïos Intelligence

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 AI, statistics, and operational research. Combining the knowledge of their lead experts in insurance, in finance and Artificial Intelligence, Koïos is developing new technologies that redefine the interactions between insurers, brokers, and their customers. Our company is firmly rooted on an experienced multidisciplinary research team with combined expertise in a variety of fields. For more information, please visit koiosintelligence.ca.

Source: Koïos Intelligence

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