Intellimation.ai, a Natural Language Processing and Machine Learning- based cognitive fintech company is launching its product ADEPT for the insurance and insurance brokerage industry.
ADEPT is an extension of their core AI platform Vector into the insurance sector. Through this product insurance brokers can embed and operationalise AI through an automated assembly line to ingest and interpret all types of structured and unstructured data, across a range of products related workflows, it said in a press release.
Intellimation CEO Har Pulak Bahadur said, “After disrupting the global markets space in the Investment Banking and Asset Management sector, Insurance came as a natural extension for our product. Bringing our already existing technology and adding the insurance domain layer gives us significant ability to disrupt this market and create value for insurance companies and insurance brokers. We have looked at some of most complex problems and take a futuristic demand approach to come up with ADEPT. The adoption of our technology will no doubt level the playing field for small and medium sized brokers and insurance companies to compete with larger and new age well-funded companies”
The use cases already configured for ADEPT include:
Request for quote automation using SLIP
Facilities Management
Claims processing
Contract Certainty
Next generation drilldown Dashboards
Machine learning based intelligence
Intellimation.ai aims to replicate its success it has seen in Investment banking where it increased straight through processing to >98%+, which has helped them scale with rapidly changing market environments as well improve customer experience significantly, the statement added.
