CIO plan for implementing AI

A 5-point CIO plan for implementing AI-based automation in daily work operations

The need for an effective CIO plan for implementing AI Many studies have found that if organizations do not evolve their mindset and efforts to implement AI in their organizations, they risk creating a huge gap between themselves and other institutions that are advancing by adopting AI. And for those organizations that adopt AI, not […]

Top Artificial Intelligence (AI) Applications in Banking 2022

Top Artificial Intelligence (AI) Applications in Banking 2022

Introduction Cognitive top Artificial Intelligence (AI) applications in banking 2022, have increased tremendously, especially with the return of the new normal early in the year. After the pandemic, many banking organizations opted for facilitating operations through process automation, which in pre-pandemic times was mostly manual or automated in a limited way. As the banking and […]

AI for customer service

Enabling AI for customer service and enhanced CX in Insurance

Introduction AI for customer service is enabling businesses to digitize every touchpoint to certain degrees to make the customer journey more effective and memorable. In fact, a McKinsey study states that AI and automation can reduce the cost of a customer care journey for insurers by as much as 30% [1]. Businesses that handle mass […]

Intelligent Automation for insurance underwriting

Intelligent Process Automation (IPA) for streamlined insurance underwriting management

Introduction  Insurance Underwriting and its management is a crucial department in the Insurance industry as it helps determine appropriate pricing for the correct risks associated with businesses. However, manual underwriting risk assessments are time-consuming, prone to errors, and may cause information loss. In fact, according to Accenture, more than 50% of an average underwriter’s workday […]

IPA for non-banking financial companies

How can AI and IPA benefit the non-banking financial companies (NBFCs)

Introduction  Over the past few years, the Financial Services (FS) sector has witnessed a reduction in expenditure required for carrying out processes related to customer transactions. As more information is exchanged between channels, new data keeps accumulating. Even with the adoption of new digital technologies, many non-banking financial institutions struggled to cope with this shift […]

Intelligent Document Processing for Public Sector

Intelligent Document Processing – bringing seamless document archival to the Public Sector

Introduction  As Artificial Intelligence makes its foray into numerous industries, the Public Sector is one such industry where AI-based process automation solutions are being increasingly adopted. Traditionally speaking, Public Sector organizations manage huge volumes of public documents manually across multiple channels. Employees in these organizations often bear a huge responsibility to ensure that the public […]

Digital Insurance Agenda

Key Highlights and Takeaways from the Digital Insurance Agenda 2022 event

Introduction Simplifai recently participated in the Digital Insurance Agenda (DIA) Event that took place in Amsterdam, Netherlands from June 29-30, 2022. With more than 75+ companies present at the event from all over the world, the two days were immensely exciting and inspirational. As a leader in the Artificial Intelligence industry, Simplifai was part of […]

AI-Powered Customer service

AI-powered customer service in the insurance industry

In recent times, the focus in the insurance industry has shifted towards delivering excellent customer service by adopting a consumer-centric model. As the customer volume steadily increased with rapidly improving tech, the demand increased for using modern technologies to speed up insurance activities. One such technology that has now managed to make a significant foray […]

SR Bank

Simplifai signs agreement with Norway’s second largest bank, Sparebank 1 SR-Bank

Simplifai has signed a strategically important 3-year innovation partnership with Sparebank 1 SR-Bank. This is a milestone achievement as Sparebank 1 SR-Bank has proven to be a first mover within fintech in the Norwegian banking industry. The 3-year contract includes a Digital Employee for email management (Emailbot) for both the retail and corporate customer centers […]

Artificial Intelligence in Banking and Finance

Influence of Artificial Intelligence on the Banking and Financial Services sector: Key Insights

Artificial Intelligence in Banking and Financial services has become driver for enhanced customer service, reduced operational costs and increased operational efficiency. Businesses in BFSI sector are optimistically inclined towards AI-powered process automation, front end support, to meet their businesses goals. According to McKinsey & Company, Artificial Intelligence potentially could unlock about USD 1 trillion in […]