Gen AI in Distribution Management - Vymo AI Enhanced Distribution Management
Abstract
About the Showcase
Gen AI is the hottest topic in the industry right now. Insurers are reaching out daily with questions and the need for advice through bootcamps, presentations, and requests for information about relevant vendors. We’ve created this showcase to allow insurers to see actual demos of available Gen AI products across the insurance value stream from a number of vendors.
Access and Length:
The short introduction (2:10) is available to all. Click the image below to access.
The full demo (8:30) is available only with vendor permission. To access the full demo, please send an email to Karlyn Carnahan kcarnahan@celent.com and we’ll request authorization. Once you've been authorized, the webinar link below will be activated for you.
Overview of Product
Vymo has a Gen AI Offering that can be used in PC , Health and Life Distribution Management
Vymo is an AI-enhanced Distribution Management Platform meticulously crafted for the insurance sector. Our suite of modular applications – OnboardIQ and EngageIQ, are engineered to offer a superior producer and administrator experience. Through advanced AI integration and real-time analytics, Vymo drives revenue growth and optimizes operational efficiency. Tailored specifically for Life, Health, and P&C insurance, the Vymo platform ensures precise alignment with your organizational goals and is easily configured to meet your functional requirements.
Vymo CoPilot
The Vymo Distribution Management platform includes Vymo CoPilot – a generative AI solution trained on large language models (LLM’s) and then directed to the insurer product, compliance, and process documentation to aid managers and sellers at any time with AI-generated responses to questions on a wide range of topics. Vymo CoPilot is commonly used via the Vymo IOS or Android mobile applications but can also be added to the Vymo responsive desktop solutions.
Increase Annual Premium
Vymo is designed to leverage Machine Learning (ML) and Artificial Intelligence (AI) to analyze the sales activities of producers and offer next best actions at the right time, leading to increased production and reduced churn.Vymo EngageIQ will increase up-sell/cross-sell and keep producers on top of pending renewals and policy lapses.At the same time, Vymo EngageIQ presents sales managers with the analytics and coaching tools they need to monitor and proactively manage sales performance.
Reduce Risk
Vymo OnboardIQ will ensure producer compliance for recruitment, onboarding, appointment, and monitoring of continued education.Vymo helps identify and recruit high quality candidates, resulting in reduced churn in your distribution channels. Integrations to external organizations such as NIPR and background check organizations will ensure compliant onboarding with “Just-In-Time'' appointments and timely alerts to keep critical information up to date.Vymo also monitors producer performance KPIs to help you identify patterns that may be indicators of fraudulent behavior or risk of churn.
Related Research:
Data Governance For Insurers In the Age of AI
Akad Seguros: Empowering Brokers with Generative AI
Gen AI - Lens on Use Cases in P&C Insurance
GenAI - Lens on Use Cases In Life Insurance
Beyond Human Intelligence: Unleashing the Power of Large Language Models in P&C Insurance
Beyond Human Intelligence: Unleashing the Power of Large Language Models in Health Insurance
Generative AI - Mitigating Risk To Realize Success in Life Insurance
Generative AI - Mitigating Risk To Realize Success in P&C Insurance
Generative AI and Large Language Models: A Snap Poll for the Celent Executive Panel
Natural Language Processing: The Next Frontier in Data Aggregation and Understanding
ChatGPT and Other Large Language Models: P&C Insurance Edition
ChatGPT and Other Large Language Models: Life Insurance Edition
