Insurify Uses Artificial Intelligence to Suggest Coverage Plans
Laura McQuarrie — March 11, 2016 — Autos
References: insurify & insurancenetworking
Insurify is an insurance start-up that sets itself apart by making recommendations for car insurance coverage using artificial intelligence.
To begin the process on the mobile platform, a user is able to use their phone to take a picture of their licence plate. From there, they'll be connected with Evia, who is introduced as a "personal insurance agent." Further interactions with the artificial intelligence will include identity verification and simple questions to determine if a driver owns or leases their car. At this stage, Evia will begin to make suggestions for coverage from a selection of more than 80 insurance carriers.
While AI handles most of the process, Insurify uses human insurance representatives to answer any challenging questions that Evia is not equipped to handle and finalize all incoming deals.
To begin the process on the mobile platform, a user is able to use their phone to take a picture of their licence plate. From there, they'll be connected with Evia, who is introduced as a "personal insurance agent." Further interactions with the artificial intelligence will include identity verification and simple questions to determine if a driver owns or leases their car. At this stage, Evia will begin to make suggestions for coverage from a selection of more than 80 insurance carriers.
While AI handles most of the process, Insurify uses human insurance representatives to answer any challenging questions that Evia is not equipped to handle and finalize all incoming deals.
Trend Themes
1. AI Car Insurance Recommendations - AI-powered platforms like Insurify use artificial intelligence to suggest personalized car insurance coverage plans.
2. Mobile License Plate Scanning - Mobile platforms like Insurify use phone cameras to scan license plates, streamlining the car insurance process.
3. Hybrid AI-human Insurance Services - Insurtech companies like Insurify combine AI technologies with human insurance representatives to provide a seamless and reliable insurance experience.
Industry Implications
1. Insurtech - Insurify is an example of an insurtech company that leverages AI to disrupt the traditional car insurance industry.
2. Artificial Intelligence - AI-powered insurance platforms have the potential to disrupt the insurance industry by automating processes and providing personalized recommendations.
3. Mobile Technology - The use of mobile technology and license plate scanning in the insurance industry has the potential to revolutionize the way car insurance is purchased and managed.
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