Software program supplier Sapiens Worldwide has reached a deal with Microsoft to supply the insurance coverage business with improved generative synthetic intelligence (AI) fashions and options.
Underneath the partnership, Sapiens will combine Microsoft Azure OpenAI and Azure Energy Digital Brokers into its portfolio.
The combination will allow prospects to make use of pure giant language AI fashions to navigate difficult paperwork, together with insurance policies, phrases and situations, amongst others.
It additionally goals to supply new market alternatives for insurers worldwide.
Utilizing Sapiens’ AI, cognitive providers and course of automation, insurers can obtain enhanced providers throughout the insurance coverage worth chain.
This could additionally assist insurers supply on the spot replies throughout varied buyer interplay domains in numerous languages, thereby lowering the variety of calls often obtained by reside brokers and related people.
Sapiens’ resolution may assist underwriters with their each day duties and minimize claims processing and fraud detection timelines.
Sapiens chief technique officer Alex Zukerman mentioned: “Generative AI’s potential as a revolutionary enabler for the insurance coverage business is big, and now’s the time for insurance coverage corporations to find the way it can contribute to facilitating and rising their enterprise.”
Final week, US-based property and casualty (P&C) insurer Atain introduced its plan to deploy Sapiens’ expertise to automate and streamline the core processes of its speciality traces.
The transfer includes the deployment of Sapiens’ CoreSuite P&C SaaS providing, which is an built-in resolution for P&C insurers.