Zelros recognized as a Cool vendor in the 2023 Gartner® Cool Vendors™ in the Insurtechs Adding GenAI Report
Zelros, The Insurance CopilotTM, has been recognized by Gartner in Insurtechs Adding GenAI
According to Gartner senior analyst Richard Natale, “Twenty percent of insurance technology and business leaders indicated that they are currently utilizing/experimenting with GenAI, and another 30% are actively planning to utilize/experiment within the next six months.” Natale also emphasized that “Insurance company CIOs should be actively evaluating this technology to determine how it might be used beneficially for select use cases in their companies.“
“We created Zelros because we saw that insurance products were, and still are, very complex. On one hand, customers struggle with understanding their policies. And on the other hand, agents, more than ever, are required to deliver better experiences. That is why we designed and developed The Insurance Copilot, a copilot for agents that will be by their side throughout every task and customer interaction, to help and guide them,”
Damien Philippon, CEO and co-founder of Zelros
This research provides reviews of three vendors offering different innovations employing GenAI. The research provides a focus on applying these technologies to specific insurance use cases. To stay ahead of what is next life and P&C insurers should review the three cool vendors highlighted in this research:
- Sixfold: Underwriting
- Planck Resolution: Commercial, actuarial modeling
- Zelros: Personalization
Key Findings
- Insurance business and IT leaders are increasingly using/experimenting with generative AI (GenAI). One way to validate the potential value of GenAI in your prioritized use cases is to experiment with commercially available insurance software into which GenAI has been embedded.
- Industry applications of GenAI are growing. In insurance, it is being applied in the context of data ingestion of unstructured data for underwriting and claims, fraud detection, and conversational bots, which is changing the differentiating capabilities of some insurance software vendors.
- Three use-case examples where GenAI might be being applied with the aid of insurtechs are ingestion and summarization of unstructured data for risk rating; personalization of insurance coverage recommendations and generating risk and underwriting insights.
Let us give you a personal tour of how Zelros can drive operational efficiency, improve risk management and enhance customer experiences. Book a demo!
*Gartner, Cool Vendors in Insurtechs Adding GenAI, By Richard Natale, Sham Gill, Chuck Thomas, Rajesh Narayan, 17 October 2023. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and COOL VENDORS is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
