Virtual assistant firm Vaiot announced that they are launching a new service that will work integrated with the Cosmos (ATOM) blockchain to sell car insurance. The company’s new service, which will use IBM’s Watson Assistant technology for this, will also be powered by artificial intelligence.
Blockchain technology continues to be used in many different industries to serve the diverse needs of people. The last example of this was made by Vaiot, a virtual assistant firm. The company has benefited from the possibilities of both artificial intelligence and blockchain technology by designing its new artificial intelligence-supported assistant to work in integration with the Cosmos (ATOM) blockchain.
Stored in smart contracts
According to the information obtained, the new platform will offer customers an end-to-end sales process that does not require human assistance to complete their insurance contracts. The system will support customers through the mobile application in order to perform these operations.
The assistant, who will communicate with customers by voice or text, will initially ask customers a series of questions to identify insurance options and recommend the most suitable one. The signed contracts will be stored in the Cosmos blockchain as smart contracts supported by the Tendermint Protocol.
At this stage, artificial intelligence monitors will follow the steps of the process and automatically initiate insurance after receiving the payment from the customer. The artificial intelligence technology that will power the system will be provided by the Watson Assistant service developed by IBM as part of the DeepQA project. It is also explained that the service can answer questions in natural language.
“Will be the first in this field”
IBM Watson did not implement artificial intelligence and blockchain technology for the first time with Vaiot, a Maltese company. The company has also developed a screening system called IBM Watson Health to help individuals return to work or school in the pandemic.
According to Vaiot CEO Christoph Surgowt, the company’s collaboration with Vaiot will be the first end-to-end digital service in this area where the actual sales process is presented. Surgowt continued: “We are confident that the solutions we offer as a company will accelerate digitalization in the insurance and InsurTech industries.”