Sapiens and Microsoft Partner to Boost Generative AI for Insurance

Sapiens announced a partnership with Microsoft to integrate with Microsoft Azure OpenAI Service to enhance Generative AI tools for the insurance industry. Sapiens plans to use Microsoft Azure OpenAI and Azure Power Virtual Agents for insurance companies to simplify the navigation of complex documents like insurance policies.

The AI services and automation from Sapiens can improve customer interactions and reduce the workload on live agents. They can also support underwriters' daily tasks and quicken the process of claim processing and fraud detection.

Sapiens International Corporation, listed on NASDAQ and TASE as SPNS, provides digital solutions to the financial sector, primarily insurance.

In the shadows of giant corporations, startup Roots Automation made recent headlines with their AI model, InsurGPT, a fine-tuned Generative AI model created exclusively for the insurance market. It enhances the natural language capabilities of their AI-powered Digital Coworkers, employing large language models to accurately extract data from both structured and unstructured documents. InsurGPT has a deep understanding of insurance-specific data and documents, improving accuracy, speed, and reducing errors in data extraction.