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Your car insurance salesman is now an AI bot connected to blockchain

Your car insurance salesman is now an AI bot connected to blockchain

Malta-based digital assistant agency Vaiot has built-in IBM’s Watson Assistant with the Cosmos blockchain to promote automotive insurance coverage.

The brand new platform options an end-to-end gross sales course of that doesn’t require human help to finish the automotive insurance coverage contracts. The cell app interacts with prospects by way of voice or textual content, initially asking a collection of inquiries to establish and counsel insurance coverage choices.

As soon as signed, the contract is saved on the Cosmos SDK within the type of a wise contract, underpinned by the Tendermint Protocol. The AI displays the deal and routinely begins the insurance coverage protection as soon as the fee goes by way of.

Though a number of suppliers have experimented with voice assistants to assist within the promoting course of, the announcement claims that none have been in a position to supply the service as an end-to-end answer which incorporates the precise gross sales course of. Vaiot’s CEO Christoph Surgowt said:

“The alternatives that include AI on cloud and blockchain applied sciences permit corporations from the insurance coverage and InsurTech sectors to digitize and enhance their present processes, and we’re assured our options will jumpstart this transformation.”

IBM Watson is an AI pc system able to answering questions posed in pure language, developed in IBM’s DeepQA venture. The system was named after IBM’s founder and first CEO, Thomas J. Watson.

In September, Vaiot raised $5.9 million in a personal sale, providing 30% (120,000,000) of its VAI token to buyers. Surgowt defined that the funds might be used to assist “ship a product that may rework how companies conduct their processes,” with the agency specializing in using blockchain to assist in authorized processes.

Final month, Vaiot acquired approval by the Malta Monetary Providers Authority (MFSA) as the primary agency to supply a regulated digital asset within the type of its VAI token. The agency additionally plans to carry a public sale later this yr providing buyers 2% (8,000,000) of the VAI token provide.

Malta is among the many first nations to implement a complete regulatory framework for preliminary coin choices (ICOs) with blockchain property being classed as both monetary devices, e-money, digital tokens, or Digital Monetary Belongings (VFAs). The sale might be supplied beneath the Digital Monetary Belongings Act (VFAA) and might be one of many first Preliminary Digital Monetary Belongings Choices (IVFAOs).

The VAI token might be used to incentivize customers to make the most of Vaiot’s options within the type of a rewards program and fee for items and providers supplied inside the program.

Final month, IBM Watson was additionally included right into a digital well being move referred to as IBM Watson Well being. The blockchain-based answer is designed to assist organizations allow people to return to work or faculty amid the pandemic.