Zurich, Vienna, 12 December 2017 – Squirro, the AI driven context intelligence and insights solution provider, has announced a new strategic partnership with one of Austria’s most established IT consultancies for the insurance industry, ConVista Faktor Zehn.
Part of the global ConVista Consulting Group, ConVista Faktor Zehn works with some of the biggest insurers in Austria and will be working with Squirro to bring artificial intelligence (AI) based innovation to the insurance sector, using data insight to reduce customer churn and improve loyalty and retention.
“We only choose to work with the very best strategic partners, and ConVista Faktor Zehn absolutely fits the bill for us,” said Dr. Dorian Selz, CEO and co-founder, Squirro. “It has a proven track record in java, impeccable credentials in the insurance sector and a real willingness to work with us to develop a leadership position in Austria. ConVista Faktor Zehn’s know-how and expertise, in combination with Squirro’s market-leading AI technology, will be a powerful proposition indeed.”
ConVista Faktor Zehn is one of Austria’s leading IT consultancies and has a reputation for delivering the very best technology solutions to its clients. Its extensive experience working with insurers means that it fully understands the challenges facing the industry, such as a lack of customer understanding and problems with retention.
“The insurance industry is one that is primed for technology innovation, especially in Austria,” said Philipp Forsthuber, project manager, ConVista Faktor Zehn. “Many of the processes involved have been around for decades and it’s common for sales agents to not really understand their customers – who to talk, when to do so and what to talk about. This lack of customer insight is undoubtedly holding the industry back. Squirro’s technology has made a difference to insurers all over the world and we are certain that this is a partnership that will work just as well in Austria.”
Earlier in 2017 Squirro launched its advanced AI platform TRINITY, that places Artificial Intelligence (AI) and Machine Learning (ML) at the heart of the enterprise. This technology deepens the insight that users can take from structured and unstructured customer data, and is rich in potential for providing substantial and tangible benefits to Austrian insurers.
Furthermore, Squirro is not a technology that is only used by data scientists – its insight is available to anyone within a business that needs it. Squirro comes with a single view of each customer, so that agents have the complete information on that customer, their history and likely future intent.
“The teams at ConVista Faktor Zehn are hugely impressive when addressing ways in which technology can help insurers, from deepening customer insight to improving the bottom line,” continued Dr. Dorian Selz. “Squirro will play a significant role in that and we look forward to jointly kickstarting a revolution in the Austrian insurance industry, improving how data is used to deliver better service based on smarter insight.”
Although based in Austria and primarily targeting that market, ConVista Faktor Zehn will also be aiming to work with insurance organizations in Germany.