Sapiens International Corporation announced an agreement to integrate Microsoft Azure OpenAI and Azure Power Virtual Agents to provide generative AI solutions for insurance companies.
According to the company, this will allow customers to easily navigate complex documents such as policies, terms and conditions, etc., using natural AI models of large languages.
Alex Zukerman, Chief Strategy Officer at Sapiens, commented, “We are excited to launch next-generation AI tools for insurers and partner with Microsoft to deliver cutting-edge solutions.
“The potential of Generative AI as a revolutionary enabler for the insurance industry is enormous, and now is the time for insurance companies to learn how it can contribute to accelerating and growing their business.”
Sapiens stated that AI, cognitive services and process automation can empower insurers through the entire insurance value chain, to provide immediate responses in multiple domains of customer interaction in multiple languages, improving of the customer experience while reducing the high volume of live agent calls. and related staff usually receive.
The company says it will also help with the daily activities of underwriters and reduce claims processing time and fraud detection.
Dalia Ophir, Director, Global Financial Services Industry, said, “We see the potential of what generative AI can do for the next generation of insurance solutions.
“The adoption of Sapiens in Azure OpenAI allows us to explore and define the right solutions for insurers around the world. As the development of generative AI continues, we look forward to generating new ways to improve and streamline the processes and operations of insurance.