Company: Coventus AI Solutions
Website: coventus.com
Business Category: A technology provider of InsurTech tools to insurance practitioners
Maturity Status: Mature (more than 3 years since product went into production)
Product or Service: vBots Intelligent Assistants
Area: Property & Casualty Insurance
vBots, powered by Coventus, is a suite of automation bots that act as Intelligent Assistants to insurance agencies & brokerages. Our solution enables insurance agencies & brokerages to assign repetitive, manual processes to the Intelligent Assistants, and let their staff focus instead on high-value, revenue-generating activities. We have engaged with 100+ agencies, and our bots integrate with any AMS system, such as Applied Epic, Vertafore, HawkSoft, Veruna, and more.
Our Story:
Having served Finance & Insurance customers with automation solutions for more than 5 years, we recognized the need for automation in the insurance agency & brokerages segment, especially with the small & mid-sized organizations.
For a long time, the SMBs in this industry were addressing their challenges either by adding more staff or adopting high-cost platforms, both of which are not scalable and cost-effective in the longer term.
When we introduced our pre-built bots with a few use cases, we received excellent feedback and a warm welcome from the insurance community. We expanded to provide a wider range of pre-built bots for more use cases and delivered custom-built bots based on individual needs. We’re proud to say we’ve helped 100+ agencies & brokerages automate their repetitive, mundane tasks and reclaim 25-50% of their employees’ time for client interactions, boosting customer satisfaction and revenue.
What makes us an InsurTech:
We built a suite of software robots using RPA technology to automate the repetitive, manual processes within the insurance agency & brokerage business operations. Our pre-built bots are made for brokerages to automate the most common use cases such as direct bill reconciliation, policy renewals, cancellations, carrier documents retrieval, CSR24 account setup, and data cleanup. We have the capability to deliver custom-built bots based on the individual agency and brokerage’s requirements.
Major features & technology used:
- Robotic Process Automation (RPA) drives the core functioning of the software robots
- Optical Character Recognition (OCR)
- Artificial Intelligence (AI)
- Machine Learning (ML)
- Natural Language Processing (NLP)
vBots is an Intelligent Process Automation platform that integrates the traditional Robotic Process Automation (RPA) capabilities with Artificial Intelligence (AI) to achieve a higher degree of automation. Its ease of use allows organizations to adopt the new technology much faster with minimal or no technical support. The integration of AI with RPA empowers the automation with judgment-based capabilities, using the cognitive capabilities of AI such as Natural language Processing (NLP), Machine Learning, and Optical Character Recognition (OCR) to help extract information from PDF or scanned documents. For more information, visit https://vbots.ai.
News & Updates
See the latest Coventus news.
About Coventus
Coventus is a 20-year-old technology solutions provider with expertise in Microsoft, RPA, ML and AI Technologies, catering to industries like Finance, Insurance, and Healthcare services. With over 450+ professionals spread across the globe, we have assisted businesses ranging from SMB’s to F500 and built over 100+ automation solutions. For more information, visit https://coventus.com.
Source: Coventus
→ back to the InsurTech Spotlight index
