Simplifai, renowned for its AI automation solutions, introduces Simplifai InsuranceGPT, which the company claims is the first-ever custom GPT tool specifically crafted for the insurance sector.
This revolutionary product stems from Simplifai’s no-code AI-powered platform, fortifying the company’s comprehensive business process automation capabilities.
Simplifai, an Oslo-based firm established in 2017, excels in providing secure AI solutions. It has designed a user-friendly AI Automation platform, which forms the basis for various solutions including Simplifai Archiver, Claims Handling, Document Handling, Debt Collection, and Customer Service. With offices spread across Pune, India, the Netherlands, Sweden, and Ukraine, Simplifai’s influence and operations extend globally.
InsuranceGPT emerges as a response to the growing need for effective AI integration within the insurance industry. It aims to address the inefficiencies in communication between insurers and their customers by providing swift, succinct, and accurate responses through generative AI, all within a secure framework.
As a provider of AI automation solutions, Simplifai’s primary goal is to streamline business processes through intelligent automation. InsuranceGPT, the company’s newest product, amplifies its mission by offering enhanced communication solutions for the insurance sector. This tool harnesses the power of AI to generate swift and accurate responses, enriching interactions between insurers and their customers.
InsuranceGPT stands out as the first large language model (LLM) specifically trained on information pertinent to the insurance sector. In contrast to other providers who integrate generic LLMs like ChatGPT or Google Bard, Simplifai ensures that its LLM aligns with the unique needs of the insurance industry.
The product presents numerous advantages, one of which is its compatibility with existing ecosystems. InsuranceGPT can seamlessly integrate with third-party services such as Salesforce and Hubspot, and other industry platforms for claims management. Security remains a key priority for Simplifai, and the company’s commitment to privacy, strict control of data, and adherence to GDPR are reflected in the private LLM. Furthermore, the no-code model of Simplifai facilitates effortless integration without the need for technical expertise, boosting efficiency and speed of use.
In addition to launching InsuranceGPT, Simplifai has also initiated the Simplifai Reference Programme for advanced AI. This aims to establish a customer reference board with key players in the insurance sector, such as Van Ameyde, CCN, and Eika. The initiative ensures that product development aligns with customer requirements.
Reflecting on the launch, Simplifai co-founder and CEO, Bård Myrstad, said, “The potential offered by generative AI is incredible. InsuranceGPT allows us to make our customers’ employees even more efficient and effective while maintaining our commitment to privacy and security.”
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