Australian AI firm reveals major progress

Australian AI firm reveals major progress | Insurance Business

Australian AI firm reveals major progress

An Australian artificial intelligence company has shared news of important progress following a requested trading halt by the ASX earlier in the week.

Flamingo AI – which provides virtual sales and services assistants – confirmed that 10 clients are currently participating in paid trials across the US, Australia and Asia. Of the 10 clients implementing Flamingo’s virtual assistants, nine are deploying the virtual sales assistant and one is deploying the virtual service assistant.

The company also named several of its clients, including Nationwide Mutual Insurance, Liberty Mutual, AMP, CHUBB, CUA and WISR.

Flamingo also provided insight into the potential of its AI technology, noting that it could be used for auto insurance quote to bind and payment, life insurance quotes, retirement product application and account set-up, superannuation and life insurance application, travel insurance application, health insurance application, personal loan application, change of plan customer service, and home and contents applications.

The company also reported that it’s in a financially sound place to meet its current goals and “remains highly confident in being able to deliver significant value to its clients, their end customers and investors.”

Notably, while Flamingo acknowledged that its focus remains predominantly on large insurance enterprises, it did reveal that “early inroads” had been made into the telecommunications sector.

While the majority of Flamingo’s revenue is currently generated from paid trial contracts, the company expects to see additional conversions of clients over the next six months.

 

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