Insurance company TT Forsikring has partnered with Simplifai and Contemi Solutions to automate its operations using AI.
TT Forsikring, a managing general agent (MGA), operates mainly in the Norwegian market and seeks to expand internationally.
The MGA, which is part of the TT Group, offers a range of services including personal insurance, property and casualty insurance, as well as business loans and cash credit facilities.
With the adoption of AI, TT Forsikring aims to improve customer experiences, achieve higher conversion rates and reduce costs.
This strategic move is aimed at securing a competitive edge in the bustling insurance market.
The initial phase of the collaboration will focus on utilising Simplifai’s AI automation solutions to manage policy cancellations and handle customer inquiries.
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According to Simplifai, this automation will ensure that TT Forsikring can offer prompt and accurate responses to customer needs.
The latest alliance builds on the existing partnership between Contemi and TT Forsikring, with the latter utilising Contemi’s cloud-native modular insurance software platform, Seamless.Insure, for more than a year.
TT Forsikring CEO Terje Danielsen said: “TT Forsikring wants to challenge the big companies in the insurance market in Norway. To succeed in this, we rely on the latest technology in customer communication.
“Simplifai has the knowledge and experience within AI that enables TT Forsikring to scale up its customer base significantly while maintaining an efficient and good dialogue with our customers.”
Simplifai CEO Bård Myrstad said: “This collaboration gives TT Forsikring the ability to compete effectively with much larger insurance companies. The value to managing general agents and smaller challengers gives them the ability to ensure faster projects and more adaptable solutions.
“The combination of Contemi and Simplifai gives TT Forsikring a strategic advantage over their competitors.”
In June 2023, Simplifai launched what it called the world’s first generative AI solution for insurance.
Named Simplifai InsuranceGPT, the tool leverages Simplifai’s technology to enable communication between insurers and their customers.