Your car insurance salesman is now an AI bot connected to blockchain

Your car insurance salesman is now an AI bot connected to blockchain

Malta-based virtual assistant firm Vaiot has integrated IBM’s Watson Assistant with the Cosmos blockchain to sell car insurance.

The new platform features an end-to-end sales process that does not require human assistance to complete the car insurance contracts. The mobile app interacts with customers via voice or text, initially asking a series of questions to identify and suggest insurance options.

Once signed, the contract is stored on the Cosmos SDK in the form of a smart contract, underpinned by the Tendermint Protocol. The AI monitors the deal and automatically begins the insurance coverage once the payment goes through.

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Although multiple providers have experimented with voice assistants to aid in the selling process, the announcement claims that none have been able to offer the service as an end-to-end solution which includes the actual sales process. Vaiot’s CEO Christoph Surgowt stated:

“The opportunities that come with AI on cloud and blockchain technologies allow companies from the insurance and InsurTech sectors

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