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.
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