Market Scan: Artificial Intelligence (AI) and Insurance

10 emerging Insurtech companies underpinned by Artificial Intelligence (AI) technology.

The Shift Technology solution leverages the best of AI to make insurers save money. Recent scientific and technological progress in machine learning has enabled Shift to design better solutions to existing problems. The Shift Technology solution exploits it in a dedicated way for insurance with models that faithfully represent its complexity.

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Tractable automatically audit claims to make sure you always pay the right amount. Visually inspect car damage pictures at FNOL to triage between repairable and total loss. Insurance companies are already using our solutions to improve their operations.

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DreamQuark develops innovative data analysis technologies around deep representation learning to help healthcare and insurance professionals develop better diagnosis, prevention and care systems that take advantage of the data that have been accumulated about policyholders, patients and diseases.

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Splice Software’s cloud based dialogue suite uses big data and artificial intelligence to target personalised voice and SMS messages to critical moments in the customer journey, enabling proactive communications to drive fact-based decision making which improves the overall customer experience for insurers, bankers and retailers.

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The AdvisorConnect platform replaces outdated and manual processes with a digital solution built specifically for the insurance agent and financial advisor of the future. By leveraging deep domain expertise, advanced machine learning and data science, the AdvisorConnect platform more than doubles the pipeline generated per rep and cuts non-revenue producing activities in half.

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Neurologic is an artificial intelligence software capable of understanding the request of a consumer by chat, email, sms and perform an automatic response in a humanised way with the information requested. Unlike chatbots, Neurologic uses neural network to truly distinguish the ambiguities of the language and answer the customer’s doubt.

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Pioneers of Big Data and Advanced Analytic Revolution in Insurance and Health Care Industries. Infinilytics offers Thought Leadership, Domain Expertise, Advanced Analytic Framework, Solutions and Services and above all Innovative Solution Development and Delivery.
smartC – Advanced Analytic Solution for Claims Validation
smartHC – Advanced Analytic Solution for Healthcare including Coding Validation

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Insurance. Re-Engineered. Plex.ai is an insurance start-up working on using artificial intelligence to re-engineer the way insurance and risk management is done. Rover (www.heyrover.com) is an AI powered virtual insurance broker that helps users quote, bind and service insurance products directly from their Facebook messenger.
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Orbital Insight has developed algorithms to count and measure cars, roads, airplanes, clouds, haze, freshwater lakes, agricultural fields, buildings, and oil tanks to provide a big-picture understanding of the world quantitatively grounded in observation.
  • Traffic Patterns
  • Monitoring of Oil Reserves
  • Global Water Reserves
  • Poverty Mapping
  • Agriculture

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Convenience and customer experience are increasingly important competitive drivers in insurance, where customers want to understand policy terms and file claims as easily as possible. Mobile messaging offers customers a direct, convenient and asynchronous communication channel.

Frame.ai’s enhanced solutions enable insurers to offer customers a high quality, personalised service over mobile messaging, whether for sales, claims, or general customer support, all at a fraction of the cost of current methods.

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