Digital Insurance Agenda

Simplifai Digital Employees: easy AI automation for the insurance industry

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Jun 17, 2022

Insurance companies around the world are moving toward AI and Intelligent Process Automation. As customer expectations are rising, insurance companies can gain a competitive advantage by automating their claims processing, customer service and other operations. Helping businesses scale their operations, improve service efficiency and cut costs.

Until now, insurance companies have adopted some automation technology, the most common one being Robotic Process Automation (RPA) which has limited functionality, only ‘mimicking’ human behavior, typically focusing on solving a few individual tasks.

Simplifai brings it to a level of Intelligent Process Automation, helping organisations to automate work processes that involve email handling, document processing and chat. “Digital Employees” help streamline large volumes of inquiries and documents, across industries, primarily within the financial institutions and public sector.

‘Digital Employee’ is a flexible solution that can automate a variety of tasks, work in any system, and be customized for the insurer’s specific needs. For example, it can automate most tasks related to claims coordination. Already at a level of 90% today, it may even get higher as AI and machine learning make the solutions smarter every day. The solutions benefit customers, internal teams, and the insurer’s Combined Ratio.

Simplifai’s solutions are cloud-based, quick to implement, easy to use, and no-code. Its solutions use AI to interpret free text, categorize and facilitate appropriate actions in any third-party system enabling end-to-end automation for front-and back-office workflows. This way, companies can spend more time, costs, and resources on value-adding tasks that

generate growth, gain a competitive advantage and improve customer and employee satisfaction.

How does it work?

Automating text-based processes, such as emails, is hard because of people’s unstructured nature of communication. Simplifai uses Natural Language technology combined with Process Automation to understand free text, make decisions and perform tasks. This way, it can automate incoming inquiries, update systems, archive, reply, and much more.

A Digital Employee consists of cloud-based modules that can be combined in different ways, depending on the business needs. The Emailbot, Documentbot and Chatbot can be used individually or together and through API integrated with the insurer’s systems.

Simplifai’s solutions have been implemented and proven in Banks, Insurance, Financial Services organizations, the Public Sector, E-commerce, Telecom, Logistics, and more in Nordics, Europe, and the APAC region.

Why did we invite Simplifai to DIA Amsterdam 2022?

There is a clear trend toward Automation Technology and the use of Artificial Intelligence for process automation. Simplifai uses this to improve those processes that add to a positive customer experience.

At DIA Amsterdam 2022 Kyrre Garseth, Simplifai Head of Sales Benelux, will present how Van Ameyde works with Simplifai Digital Employee to automate manual repetitive work in the claims function. The claims team of Van Ameyde receives more than 1 million inbound emails and attached documents related to claims, on a yearly basis. Each of these emails takes a few minutes of manual work: for reading, responding and updating existing case files. Kyrre will explain how Simplifai’s solution helps eliminate, or strongly reduce, this manual work and how this results in an attractive business case.

Who is Simplifai?

Simplifai is an AI SaaS company founded in 2017, in Oslo, Norway by Bård Myrstad (CEO) and Erik Leung (Product Visionary). Since then, the company has grown to 140+ employees in India, Ukraine, The Netherlands and Denmark with clients across industries and borders and more than 40 partners worldwide. The company is continuously scaling globally with a focus on Europe and APAC region.

The company streamlines work processes in Insurance companies such as Van Ameyde, Nh1816 Verzekeringen in the Dutch market, and Bajaj Allianz Life Insurance in India. And in Norway, Knif, Eika, and Claims Link, an individual claims settlement company affiliated with Söderberg & Partners where the solution now automates 80% of the incoming inquiries, saving the company 50 hours a day on claims handling.

“Simplifai was founded on the idea of making Artificial Intelligence easily adaptable for any business and user-friendly for any user to manage their own solution. We aim for intuitive configuration, seamless integrations, and high ROI and automation grade for all our clients.”

Bård Myrstad, CEO and co-founder of Simplifai AS

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