REDWOOD CITY, Calif.–(BUSINESS WIRE)–Aug. January 2023–
COVU, the only AI-enabled, all-in-one digital platform for insurance agencies, has released a new Executive Forecast on the industry’s shift toward the use of Generative Artificial Intelligence (AI) tools to help insurance agencies streamline operations, customer service and cross-selling opportunities.
COVU is a pioneering insurtech startup that offers independent agencies comprehensive support and state-of-the-art tools to manage the entire business and generate new revenue. COVU helps fuel success in today’s dynamic marketplace by giving agents access to the latest technologies to make efficient, informed decisions.
COVU’s team of world-renowned insurance, finance and technology innovators believes that generative AI tools – like ChatGPT, developed by OpenAI – will play a significant factor in the digital transformation of the insurance industry in 2023. These new AI-powered tools have the potential to reduce customer service costs by up to 30%, which could save insurance agencies millions of dollars.
“US insurance agencies are falling dramatically behind the technology curve and it’s time to embrace the new digital age with innovative technologies that improve business operations,” said Amir Kargar, co-founder and chief technical officer at COVU. “We’re on the cusp of a breakthrough in insurance, and our team is helping to pave the way for a modern approach to revenue growth for insurance teams.”
COVU’s platform and approach are designed to help agents better manage operations, customer service and cross-selling. Using AI tools, agents can reduce time spent on administrative tasks, increase targeted marketing efforts, and quickly uncover more sales opportunities.
Powered by AI and machine learning (ML), OpenAI’s platform automates routine tasks like document management and customer segmentation – freeing valuable time for high-value activities like delivering personalized customer advice, strengthening customer relationships through new offerings, and growing the business. The technology provides unprecedented access to data and customer behavior patterns, enabling agents to make quick decisions based on real-time data and analytics.
As part of COVU’s commitment to modernizing the insurance industry, the company continues to explore the possibilities and benefits of generative AI. COVU plans to release an upcoming set of studies to rethink how insurance agencies manage operations, customer service, cross-selling and all related processes to ensure better service and cost savings.
About COVU
Founded and advised by a team of world-renowned insurance, finance and technology industry veterans with a passion for transparent and unbiased advice, COVU’s mission is to help everyday people and growth-oriented insurance professionals reduce risk and manage insurance smarter .
COVU’s holistic approach ensures agencies thrive by managing the business side of insurance operations to deliver exceptional customer experiences through a unique combination of AI technology, human intelligence, real-time service and world-class sales support.
To learn more go to https://covu.com or connect with us on LinkedIn, Facebook, Instagram, Twitter or YouTube.
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KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: DATA MANAGEMENT CONSUMER ELECTRONICS TECHNOLOGY PROFESSIONAL SERVICES SMALL BUSINESS MARKETING COMMUNICATION SECURITY SOFTWARE ARTIFICIAL INTELLIGENCE INSURANCE
SOURCE: COVU
Copyright Business Wire 2023.
PUBLICATION: 2023-01-27 4:16 PM / DISC: 2023-01-27 4:16 PM
http://www.businesswire.com/news/home/20230127005331/en
Copyright Business Wire 2023.
