Novus Highlights AI's Role in Transforming the Insurance Industry

May 20, 2023
⌛️ min read
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Novus is at the forefront of revolutionizing the insurance sector with productive AI solutions, particularly in claims processes. In a recent interview with Insurer Newspaper, Novus co-founder Vorga Can emphasized the transformative potential of AI in insurance, focusing on data and semantic analysis to enhance claims handling and other processes.

The rise of generative AI and big language models, as seen with applications like ChatGPT and Dall-E, has increased the spotlight on AI's applications across various sectors, including insurance. Novus, specializing in generative AI and semantic analysis, is making significant strides in this direction.

Initially starting as a media company, Novus pivoted to leveraging its deep knowledge in machine learning and AI for content production. This evolution led to the creation of Novus Writer, allowing companies to generate written content using their own data. Investments from entities like SWG in Estonia, the MIT Sandbox program, and substantial cloud loans have propelled Novus forward.

Vorga Can highlighted the company's focus on semantic analysis, aiming to make data more communicative and functional for businesses. Novus Writer and Novus On-Prem solutions are key products in this endeavor, offering customizable AI tools for content creation and operational efficiency.

Differentiating itself from competitors, Novus leverages its Custom-AI capability, allowing companies to quickly train models with their data, yielding high-quality outputs. Collaborations with major banks and businesses in Turkey further showcase Novus's expertise in AI solutions.

Looking at the insurance sector, Vorga Can sees enormous potential for AI to streamline and optimize operations, particularly in post-loss processes. An AI model trained with a company's data and know-how could significantly improve communication and efficiency, enhancing overall industry performance.

Novus's goals extend beyond content optimization for SMEs. The company aims to become a leading on-prem AI provider, first in Turkey and then globally, focusing on Europe and the US markets. Vorga Can invites senior managers in the insurance industry to explore AI-driven solutions, emphasizing the importance of building an "AI Corpus" for competitive advantage in the near future.

For more insights and detailed plans from Novus, you can refer to the full article Semantik analiz ve üretken yapay zekâ çözümleri sigortacılıkta fark yaratabilir on the Sigortacı Gazetesi website.

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