Bolttech
Bolttech uses AWS’s generative AI to power hyper-personalized client services.
Bolttech, an international insurtech firm with its headquarters in Singapore, said today that it is integrating generative AI (Gen AI) technologies from Amazon Web Services (AWS) into its internal and customer workflows. The project seeks to lower expenses, increase operational effectiveness, and provide more individualised and improved client experiences.
Using Amazon Bedrock, Bolttech has developed a new Gen AI platform, called Bolttech GenAI Factory, which serves millions of consumers in 37 countries on four continents. This platform is intended to improve Bolttech’s current Amazon Connect-powered omni-channel customer experience solution. In addition to interacting with customers, Bolttech’s internal teams will use the GenAI Factory to create and implement their own Gen AI applications.
Advanced speech-to-speech capabilities are incorporated into Bolttech’s chatbots as one of the first uses of the GenAI Factory. The goal of this connection is to facilitate smooth, organic multilingual customer conversations. This capability is first being tested in Korean. In their local tongue, the solution offers clients personalised, real-time answers to their enquiries about insurance policies. With almost instantaneous response times, it can handle a broad variety of questions, from straightforward to intricate. The software frees up human agents’ time to concentrate on higher-value interactions by automating repetitive chores like basic claims processing. It is anticipated that this will increase operational effectiveness and strengthen Bolttech’s dedication to client satisfaction throughout its international operations.
“At Bolttech, it remains steadfast in the vision to connect people with more ways to protect the things they value,” said Philip Weiner, CEO, Asia, in response to the partnership. He went on to say that the proper data and AI infrastructure are needed to realise this goal at scale. Weiner claims that AWS’s cloud computing and Gen AI services, such as Amazon Bedrock, offer the essential framework for gaining access to a variety of model options, offer excellent price-performance ratios, and give strong enterprise features related to trust and safety that are ideal for Bolttech’s requirements.
Weiner emphasised that having a variety of AI models to choose from, like Amazon Nova, promotes quick innovation to enhance consumer experiences in the sector. This includes using developments in agentic AI to provide near-human AI interactions, real-time policy explanations, and immediate claims processing. He came to the conclusion that this partnership increases Bolttech’s capacity to provide its partners and their clients with additional options, guaranteeing access to cutting-edge security solutions.
The Bolttech GenAI Factory is an enterprise-wide innovation engine that goes beyond its use in call centre augmentation and claims resolution. It gives internal teams the ability to create and implement their own Gen AI applications within the organisation. These applications cover every step of the insurance value chain, from product creation and customer support to underwriting and claims processing.
Bolttech intends to employ AI to enhance three crucial aspects of its client product offerings prediction, prevention, and recovery by utilising AWS’s infrastructure.
In order to improve risk assessment and offer individualised insurance products like real-time changed prices for auto insurance depending on driving behavior prediction uses artificial intelligence.
Implementing AI-driven early warning systems for possible dangers, such as cyberattacks, natural catastrophes, or other unfavourable events, is the main goal of prevention. This enables policyholders to potentially reduce losses by taking preventative measures.
In order to speed up claims processing and offer policyholders immediate assistance following an incident, recovery involves implementing chatbots and virtual assistants driven by artificial intelligence.
When inevitable loss events happen, these improvements should help lower loss ratios over time and offer quick, comprehensive recovery and remediation.
The insurance industry in Southeast Asia is increasingly utilising generative AI and the newest cloud technologies to make asset protection simpler, more accessible, and less expensive, according to Priscilla Chong, Country Manager, AWS Singapore. In order to improve customer experiences, boost operational efficiency, and spur innovation in the way insurance services are provided and used globally, she mentioned Bolttech as an example of a business utilising generative AI. Chong said that AWS is happy to be partnering with Bolttech and emphasised that AWS’s model-neutral, choice-based strategy is providing clients at the vanguard of the AI revolution with AI-powered ease.
Bolttech is also already using AWS technologies to speed up time to market and simplify its software development lifecycle. According to reports, Amazon Q Developer trial use cases have produced notable advantages. Bolttech was able to free up important development time by cutting the amount of time spent updating code documentation files by more than 50%. Learning new codebases took less time for the Amazon Q Developer.
It speeds up learning by rapidly analysing big file sets and returning both low-level details and high-level purposes. Python and JavaScript, the two main programming languages used by Bolttech, worked well with Amazon Q Developer, making it a useful tool for a variety of employees, including data scientists and backend and frontend developers. This eliminates major distractions and enables Bolttech’s developers to concentrate more on coding and multitasking.
As mentioned in earlier updates, Bolttech’s extensive use of AWS Gen AI capabilities is a major technological achievement that supports its continuous attempts to expand internationally and establish strategic alliances. Bolttech’s approach to improving its platform and protective product delivery is highlighted by the emphasis on AI-driven personalisation, efficiency, and product innovation.
