#bolttech

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Bolttech

Bolttech powers hyper-personalized customer services with AWS generative AI.

Bolttech, a Singapore-based insurtech company, said today that it is integrating Amazon Web Services (AWS) Gen AI technology into its internal and customer operations. The project aims to cut costs, boost efficiency, and personalise client experiences.

Bolttech GenAI Factory, a Gen AI platform using Amazon Bedrock, serves millions of users in 37 countries on four continents. Bolttech's Amazon Connect-powered omni-channel customer experience solution will benefit from this platform. Bolttech's internal teams will use the GenAI Factory to develop and deploy Gen AI apps in addition to customer interactions.

As a first GenAI Factory application, Bolttech's chatbots have advanced speech-to-speech capabilities. This connection is meant to promote natural multilingual customer conversations. This is tested in Korean first. The service provides tailored, real-time insurance policy replies in local languages. It can answer simple to complex enquiries with practically rapid responses. Human agents can focus on higher-value interactions by automating monotonous tasks like claims processing with the software. This should improve operational efficiency and Bolttech's international customer service.

“At Bolttech, it remains steadfast in the vision to connect people with more ways to protect the things they value,” stated Philip Weiner, Asia CEO, concerning the cooperation. The right data and AI infrastructure are needed to achieve this ambition, he said. Weiner claims that AWS's cloud computing and Gen AI services, such as Amazon Bedrock, provide the framework for accessing a variety of model options, excellent price-performance ratios, and strong enterprise trust and safety features that Bolttech needs.

Weiner stressed that having many AI models, like Amazon Nova, encourages speedy innovation to improve consumer experiences. Agentic AI can deliver near-human AI interactions, real-time policy explanations, and quick claims processing. His conclusion was that this relationship allows Bolttech to provide its partners and clients more options and cutting-edge security solutions.

The Bolttech GenAI Factory drives enterprise-wide innovation beyond call centre augmentation and claims settlement. It lets internal teams build and deploy Gen AI apps. These apps encompass product design, customer assistance, underwriting, and claims processing along the insurance value chain.

Bolttech will use AWS's infrastructure to improve its client product offerings' prediction, prevention, and recovery with AI.

AI is used to improve risk assessment and deliver personalised insurance products like real-time vehicle insurance price changes based on driving behaviour prediction.

AI-driven early warning systems for cyberattacks, natural disasters, and other threats are the core goal of prevention. Policyholders can prevent losses by adopting precautions.

Recovery entails using AI-powered chatbots and virtual assistants to accelerate up claims processing and help policyholders immediately after an occurrence.

These changes should lower loss ratios over time and provide speedy, complete recovery and remediation after inevitable loss events.

According to Priscilla Chong, Country Manager, AWS Singapore, the Southeast Asian insurance business is using generative AI and new cloud technologies to make asset protection simpler, more accessible, and cheaper. She noted Bolttech, which uses generative AI to improve client experiences, operational efficiency, and global insurance service innovation. Chong said AWS is pleased to cooperate with Bolttech and that AWS's model-neutral, choice-based philosophy gives AI-first clients AI-powered ease.

Bolttech also uses AWS to accelerate time to market and simplify software development. According to sources, Amazon Q Developer experimental use cases have benefits. Bolttech saved over 50% of development time by updating code documentation files. Amazon Q Developers learnt codebases faster.

It quickly analyses large file sets and returns low-level details and high-level intents, speeding learning. Amazon Q Developer works well with Bolttech's main programming languages, Python and JavaScript, making it suitable for data scientists and backend and frontend developers. This avoids key distractions and lets Bolttech developers code and multitask.

bolttech, 2.1 Milyar Dolar Değerlemeye Ulaştı Singapur merkezli sigorta teknolojisi şirketi bolttech, son finansman turunda Mitsubishi UFJ Financial Group’un Dragon Fund’u ve fintech doğrudan borç vereni L...

bolttech, 2.1 Milyar Dolar Değerlemeye Ulaştı Singapur merkezli sigorta teknolojisi şirketi bolttech, son finansman turunda Mitsubishi UFJ Financial Group’un Dragon Fund’u ve fintech doğrudan borç vereni L...

Embedded insurtech is still hot, as the $196 million in funding landed by bolttech proves. The company, which started in Singapore but now has operations around the world, said it is now valued at $1.6 billion. The funding was led by Tokio Marine, Japan’s first insurance company, and life insurance leader MetLife through its subsidiary MetLife Next Gen Ventures. Other participants included new…