Simplifai has won a significant contract with insurance specialist Eika Forsikring, following a successful proof of concept project earlier this year, exceeding expected results with 17%.
The agreement comprises license agreements and delivery of Documentbot and Emailbot technologies, with front-end and backend integrations. Eika Forsikring, a part of Eika Gruppen, receives annually approximately 300,000 customer e-mails and documents related to insurance claims within both home, car, travel and other insurance products. Simplifai will provide its AI-powered Digital Employee technology to help automate document management processes to reduce the time Eika’s employees spend on manual handling of documents. This will also reduce response time for Eika’s customers that await feedback on their insurance claims in addition to reducing the total cost of claims handling.
“Simplifai’s cloud-based solutions enables us to quickly leverage advanced AI technology to accelerate ongoing efforts to modernize and automate our claims processes, driving improved customer experience and reduced operational costs.” says Thomas Dinhoff Pedersen, CIO Eika Forsikring.
“This setup assists Eika to optimize on cost and speed up handling of new and expedite cases, creating value for both Eikas and their customers”, says Bård Myrstad, VP of Simplifai.
“The complexity and large volumes of documents involved means that this is a large and important contract for Simplifai. Eika Forsikring will utilise both our Documentbot and Emailbot technologies. The successful application of these solutions will open up many opportunities within the banking and insurance sectors, both in Norway and internationally, where automated handling of emails and other documents are required,” Myrstad continues.
“Insurance is one of the industries with the highest need for artificial intelligence in a global context, and the demand for solutions Simplifai offer is high. Through this contract Simplifai continues to strengthen the position as a key provider of customised AI solutions that is critical to the customers and requires both domain knowledge and in-depth AI-skilled teams to develop,” says Bård Myrstad, VP of Simplifai.
The project will be delivered in cooperation with Simplifai’s partner, Knowit Insight.
“Where RPA and chatbots represent the first wave of AI-driven business process automation, Simplifais’ solutions is part of the second wave. Their Emailbot and Documentbot solutions are pushing the boundaries of which processes can be automated in a cost-efficient manner”, says Ole Kristian Haug, Head of Automation and Data Analytics, Knowit Insight.