Tue, 21 Mar 2023

Groundbreaking Proof of Concept Brings Cutting-Edge Technology and Unmatched Customer Experience to the Insurance Industry

WILMINGTON, DE / ACCESSWIRE / March 17, 2023 / Choco Inc., a global leader in fintech innovation, is proud to announce the launch of its groundbreaking autonomous insurance service in Israel. This pioneering Proof of Concept (POC) integrates Chat-GPT-4, the world's leading AI language model, with smart insurance contracts to deliver the world's first AI-driven insurance platform.

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Smart insurance contracts, or smart policies, are JSON files containing indexed data and algorithms for each contract, such as price calculations and coverage terms. These smart policies enable Chat-GPT-4 to easily understand the insurance contract and provide expert service based on the legal text and comprehensive domain data. Smart contracts serve as native datasets for Chat-GPT-4, optimizing its ability to deliver accurate and efficient insurance services.

Choco's new insurance platform harnesses the power of GPT-4 and smart insurance contracts to revolutionize various aspects of the insurance business, from risk assessment and underwriting to customer support and claims management. By combining the AI capabilities of GPT-4 with smart contracts and Big Data, Choco aims to make insurance services more efficient, transparent, and accessible for customers.

Some key features of Choco's AI-powered autonomous insurance service include:

1. Personalized policy recommendations: Chat-GPT-4 helps customers understand their unique insurance needs and recommends personalized policies based on their individual circumstances. This tailored approach ensures customers get the coverage that best suits their requirements.

2. Claims assistance: Chat-GPT-4 provides comprehensive support throughout the claims process. The AI system can help customers gather all necessary data and documents, provide real-time updates on claim status, and even facilitate immediate payments upon claim approval. This level of assistance significantly enhances the customer experience and streamlines the claims process.

3. Policy adjustments and updates: Chat-GPT-4 enables customers to efficiently change their policies, such as updating coverage amounts, adding new assets, or changing beneficiaries. By understanding the customer's needs, policy terms, and smart contract data, GPT-4 can accurately process these requests and ensure seamless policy updates.

To celebrate Israel's Independence Day on April 25, 2023, Choco will officially launch its Chat-GPT-4 insurance services on its website and WhatsApp, making it available to the public.

For more information about Choco's AI-powered autonomous insurance services and the innovative use of Chat-GPT-4 and smart insurance contracts in the insurance industry, visit the program website: https://chocoinsurance.co.il or contact hello@chocoinsurance.com.

About Choco Inc.:
Choco is an autonomous insurance program committed to transforming the financial services industry through the use of cutting-edge technology and innovative solutions. With a strong focus on customer-centricity, Choco Inc. develops and delivers next-generation products and services designed to revolutionize how people interact with and manage their finances.

*This press release was generated by Chat-GPT-4.

Contact Information
Uriel Aharoni
CTO
uriel@chocoinsurance.com

Related Files

Choco Autonomous Insurance Program 2023-03-16.pdf

SOURCE: Choco Inc.

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View source version on accesswire.com:
https://www.accesswire.com/744335/Choco-Inc-Announces-Launch-of-Worlds-First-AI-Powered-Autonomous-Insurance-Service-in-Israel

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