24 Jan Analytics & Applied AI – A Cutting Edge Rationale!
Expansion in next-gen cognitive technologies across areas encompassing Analytics, Artificial Intelligence, Natural Language Processing and machine learning has far-reaching impacts on business, economy and global communities in general.
Data analytics and artificial intelligence is the combined back-bone of any progressive business.Gaining a competitive edge in this fiercely competitive tech-ecosystem needs new strategies that are driven by Cognitive Intelligence and Applied AI.
Applied AI (artificial intelligence) with advanced NLP , Machine Learning and Chatbots already made a mark across industries by creating critical business differentiators resulting in a better top line or optimized bottom line. Nuvento uses advanced analytical techniques and uses its in-house proprietary algorithms to empower progressive businesses with faster and large-scale evidence-based decision making.
How Nuvento Applied AI can transform your Insurance Business
1. CUSTOMISED INSURANCE PRODUCTS: We use the power of Image Analytics, Predictive modelling, Machine learning to analyze millions of images , claims settlement details, data patterns to build models for FNOL , customer management, Claims advisory, billing and operations management.
2.Improving Sales, Underwriting and Policy Service: New Customer experiences can be created through newer digital channels based on prescriptive analytics patterns that are based on data and AI. Our models are trained to use AI to find out customer behavior patterns, purchase trends, complaints history etc. Our AI Solutions are designed to have considerable time & money which is otherwise spent on tedious underwriting process.
Key Goals of the Nuvento Analytics & Applied AI Platform:
- Business Proactivity & Need Identification: Nuvento Analytics & Applied AI helps businesses to predict the customer needs accurately and thereby optimise customer experiences across multiple platforms. This helps brands to curate services and products and market them and engage customers. Nuvento Predictive Analytics combined with Applied AI can have far reaching impacts in many business critical areas like finance, operations and R&D. We use our in-house algorithms in Prescriptive and Predictive analytics users to identify high-value customers and market the right kind of offer which results in closing of deals much easily.
- Mitigating Risks & Fraud: Nuvento Analytics & Applied AI with advanced Machine Learning and Social network Analysis has helped in identifying risk and targeting specific fraud instances well in advance and is extremely useful in reducing false positive in financial institutions with large real-time transactions.
- Customization: Real-time interactive response to reach customer delight threshold is possible through Nuvento Analytics & Applied AI. Customization in a multi channel service environment is achievable by understanding customer attitudes precisely. This applies across numerous industries including insurance where businesses are heading towards creating customized products by deploying AI solutions.
Data & Analytics Sciences has transformational power for any entity, however most businesses are leveraging only a fraction of its total value. Many tech enterprises are still struggling to take a leap forward to reach the ideal state of flexible and innovative data architecture that can get the most out of big data and analytics.
Impact of Applied Artificial Intelligence in marketing arena is tremendous and estimated to reach more than $150 billion by 2025.
AI Enabled Chatbots from Nuvento are known to harness the powerful combination of predictive analytics and applied AI to create almost human like experiences. A truly intelligent Chatbot must have a degree of Cognitive Intelligence. Our core focus is to harness the visual power of Social Conversations to provide a truly human like interaction , and to do this our AI competency center uses our in-house decision making models in store and accelerators for image processing, video analytics, social media analytics and device integrated bots.