Alite International brings AI to the insurance industry
Digital innovation and transformation consultant Alite International has entered a long-term partnership with a worldwide market leader within insurance.
A key ingredient in the deal is to supply digital and AI solutions, an area in which the insurance industry long have been lagging behind.
The insurance industry has until recently been unchartered territory when it comes to digitalisation. While many other markets have been transformed by and adopted digital advancement, most major insurance companies have still been unable to perform that shift.
– The insurance industry is one of the least digitalised, says Alite International CTO Vlatko Kotevski. There’s a great demand for products which are closer to the consumer market. Also, the larger companies are today threatened by small, agile so-called ”brokers”. These two factors make it imperative to develop better products and to fully embrace digitalisation. And this is where Alite International can help.
Alite International has just signed an agreement with a leading international insurance company. The objective for the project at hand is to build a fully digital insurance company. The project calls for a high degree of artificial intelligence solutions, and is likely one of the first ever commercial AR projects intended for direct business application.
– This is a golden opportunity for us to show our strength within innovation and transformation, says Alite International founder and CEO Fredrik Alstierna. The fact that it will result in a whole new way to do insurance business makes it all the more exciting. This agreement also shows that we are right where we want to be, with major players in traditional industries turning to us to enhance and develop their market offer through digital solutions. The agreement covers a partnership between Alite International and an international provider of reinsurance, insurance, and other insurance-based services.
For more information on how Alite can help your company in its digital endeavours please contact us.