Oslo-based Simplifai is bringing AI to the the insurance industry through what it is claiming is 'a world-first custom-built GPT tool', Simplifai InsuranceGPT. The AI automation solutions provider has developed a no-code large language model (LLM) trained specifically on information directly relevant to the insurance sector.
InsuranceGPT's SaaS product plugs into third-party services like Salesforce and Hubspot, as well as industry platforms for claims management to make information pulling and sharing easier across all industry systems.
Simplifai adds that the privacy and regulation of data conforms with the rules of GDPR. And to ensure that products meet the specific and regulated requirements of insurers, Simplifai has also launched the Simplifai Reference Programme for advanced AI, establishing a customer reference board with firms like Van Ameyde, CCN and Eika.
“The evolution of technology is not slowing down with the rapid development of AI and LLMs. That is why we are joining the reference board and taking a front seat together with Simplifai, to explore both current and future opportunities for responsibly leveraging AI and new technologies to improve our operational efficiency and customer experience. This is not the time to fall behind,” says Thomas Dinhoff Pedersen, CIO at Eika Insurance.
"The potential offered by generative AI is incredible, but a specially-built industry-specific GPT trained on insurance data is the only way to offset risks around security, data privacy and accuracy. InsuranceGPT grants us the ability to make our customers’ employees even more efficient and effective, not to mention more valuable, while maintaining our commitment to privacy and security,” says Bård Myrstad, Simplifai co-founder and CEO.
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