VAIOT Introduces Its First Generation of Intelligent Virtual Assistants for Insurance Sector

By AIT News Desk On Nov 11, 2020

VAIOT is helping businesses to better interact with consumers in the digital sales channels using IBM Watson Assistant

VAIOT, the developer of AI-powered digital services for businesses announced a new portfolio of Intelligent Virtual Assistants (IVAs) utilizing IBM Watson Assistant on IBM Cloud. Available from this quarter, the first IVAs are designed to help insurance and InsurTech companies create intelligent sales and customer service channels.

VAIOT’s new IVAs were created in response to the growing digital demands of the insurance sector including self-service and automation. AI-powered smart assistants have taken the market by storm in recent years. Customers, especially during the pandemic, increasingly expect to receive services and conduct transactions instantly and digitally, and automation allows for cost reductions and greater efficiency, freeing humans from the yolk of mundane tasks.

With VAIOT’s IVAs, running on IBM Cloud, the end user will be able to buy car insurance, receiving support throughout the entire process of purchasing decisions, issuing, and delivering the insurance policy. When using the IVA to purchase an insurance policy, the user can easily answer specific questions on required data such as expected yearly mileage and storage, registration number, and the type of coverage the user would like to receive within the car insurance policy.

The IVA can be accessed via a simple mobile application and harnesses Natural User Interface (NUI) technology to conduct voice conversations. As a result, the IVAs will collect all of the information from the customer that is needed to prepare a highly personalized insurance offering in the form of an Intelligent Contract.

IBM Services worked with VAIOT to develop the IVAs, integrating IBM Watson Assistant to conduct the conversation with the customer and collect the required information to create the contract. For increased security and efficiency, the IVA utilizes blockchain technology as part of the underlying structure in authorization, readiness to sign and store operations. It allows not only for immutability of transactions (data and value exchange), but also for immutability of the AI algorithms.

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“Utilizing AI’s full potential is essential for VAIOT’s solutions, and IBM is providing us with that” says Christoph Surgowt, CEO of VAIOT. “The opportunities that come with AI on cloud and blockchain technologies allow companies from the insurance and InsurTech sectors to digitize and improve their current processes, and we are confident our solutions will jumpstart this transformation.”

“Advancements in AI, automation and hybrid cloud are helping enterprises around the world achieve new levels of efficiency and customer satisfaction,” says, Paweł Raczyński, Global Technology Services Leader, IBM Poland and Baltics. “IBM is working with VAIOT to bring together IBM Services’ industry expertise with IBM Watson’s cutting-edge natural language processing capabilities to deliver new solutions that provide a seamless customer experience.”

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