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Smart Clothing Booming the Textile Industry

Once confined to fiction movies, Mark L of Iron man is gradually coming to life in our real world. With nanotech being under the cusp of major transformation, growth in the smart clothing industry has increased by leaps and bounds.  According to a report released by a business consulting firm Grand View Research, the global […]

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, […]

Scope of Phygital in Insurance

The Indian insurance market is undergoing a rapid change. The focus on digital cannot be limited to customer acquisition since customer engagement is the key. However, some customer segments depend on traditional insurance channels of interaction.  Problems With Traditional Insurance With customers split into different segments, insurers require hybrid methods to satisfy the needs of […]

AI can help bridge customer gaps for microinsurers

Microinsurance targets low-income households and individuals with little savings. Low premium, low caps, and low coverage limits are the characteristics of microinsurance plans. These are designed for risk-proofing the assets otherwise not served by traditional insurance schemes. Because microinsurance comprises of low-premium models, it demands lower operational cost. This article covers insights on how AI […]

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 […]

Key Takeaways of 4th Insurance India Summit & Awards 2019

Innovation and Disruption are causing a paradigm shift in the Indian insurance industry today. The industry is expected to touch USD 280B by 2020. With the advent of InsurTech, Blockchain, Big Data, AI, IoT, AR amidst changing consumer preferences — there has been a holistic approach to insurance automation, challenging the traditional concepts making insurance […]

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 […]

Is AI replacing Architects?

Architecture is perhaps the most complex discipline operating in more dimensions than any other coordinated human activity. However with the advancement of artificial intelligence, like every other profession, architects to are worried about the level of automation that has already taken away specific tasks from their roles. While the ‘Humans are hooked and Machines are […]

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