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Raising the Bar: Key Takeaways from Salesforce ‘Connected Customer’ Conference

Living up to the Customer is the nouveau and delicate challenge surrounding digital enterprises today. The holisitic shift in focus has parlayed the reaps of experimentation around ‘customer loyalty’ a decade ago, into a new hymn praising the ‘extraordinary experiences’ that businesses can now deliver to their customers. Moreover, 84% of customers say the experience […]

FlowMagic — The Visual AI Platform for Insurer Workflows

For any operational effort across large organizations, a significant amount of time and resources are spent manually inputting data into downstream systems. These processes more specifically affect insurance practices that are deeply reliant on back-office processes. The bulk of the insurance workforce is condensed into operations and support functions (e.g. policy issuance and servicing). Here, […]

Africa: The Hidden Workforce Behind AI

The machines are learning. Slowly, sure, but they are learning and we (humans) are the ones teaching them. We tell the machines how they should learn through the algorithms we write, and then feed them an enormous amount of data, so that it trains endlessly. Data labeling (the process of augmenting unlabelled data with meaningful […]

Is AI Disruption on the way for Kenya’s Insurance Space?

The earliest known reason for introducing insurance protection in Kenya, came during the time of the Colonial British — when they insured their farms and crops against loss, damage etc. Today, Kenya has 70% of the East African Insurance market (among Burundi, Uganda, Tanzania & Rwanda). Still, African Insurance is relatively nascent in terms of […]

Insurtechs are Thriving with Machine Learning. Here’s how.

Modern Insurance is only around 250 years old, about when the necessary statistical and mathematical tools to underwrite a business venture came to be. But statistical models, even the most advanced ones, need a very specific type of enriched data-diet for it to work optimally. Since then, the industry has always had to rely on […]

How chatbots are changing the digital Indian

Chatbots have come a long way – from a hyped technology under the AI umbrella to a direct-to-consumer product, that has incessantly penetrated the tech-enabled services we use today. While the adoption of chatbots is still in its infancy, the proliferation and mushroomed effect it has had so far is remarkable. Most of us, are […]

Intelligent Claims Automation Is Reshaping Malaysia’s Insurance Sector

Malaysia, drawn by its strong economic growth, expanding middle-class income and rising insurance penetration levels, is witnessing a new era of innovation – with AI leading the charge in bringing new and intelligent technologies to the mass-market.   According to Bank Negara, the country’s regulator of banks and insurers, life insurance penetration rate stood at […]

TOP 10 INNOVATIVE INSURANCE PRODUCTS OF 2019

  We are witnessing the slow but sure, uberization of insurance. Insurers now more than ever, need big data-driven insights to assess risk, reduce claims, and create value for their customers. The industry is abuzz with a steady influx of new innovative products, deriving value in areas that were previously untapped. Processes like faster KYC […]

The Biggest Insurance Payouts in History

When the unforeseen strikes, insurance practices everywhere are left holding their breath as they lie in wait for the dreaded number – the damage loss estimates – to come in. These numbers are astronomical, to say the least. Almost 70% of all business financial losses arise from only ten circumstances – just ten! with the […]

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