SINGAPORE, Nov. 6, 2024 /PRNewswire/ -- Novo AI joins forces with discovermarket, a leading embedded insurance platform, to revolutionize the future of digital insurance. This new partnership aims to enhance the efficiency and accessibility of embedded insurance offerings.
What is Embedded Insurance?
This is a type of product that integrates insurance products directly into the purchasing process of non-insurance items in real-time, enabling consumers to get protection seamlessly during the buying process. The insurance policies are suited to their specific needs, at a fraction of the cost of traditional offerings. With technological advancements, embedded insurance is making low-value items insurable in a cost-effective manner and democratizing the insurance landscape.
What Novo AI Brings to the Table?
This collaboration brings together two innovative companies poised to transform the insurance industry. Given the large volumes and low prices of embedded insurance products, it's essential to streamline operations, automate processes, and maximize efficiency. Novo AI uses generative AI to make them x100 more efficient than before. Key areas of focus include automating claims processing, implementing systematic fraud detection at scale and enhancing customer support.
Novo AI and discovermarket are rolling out a new product to enhance the customer journey: AI-powered policy creation and management. This AI-agent allows discovermarket to offer a tailored, automated experience where customers can create personalized policies and manage them throughout their lifetime. The agent effectively helps customers understand their insurance coverage, the policy exceptions and assists them with claims submissions.
A Word from the Partners
discovermarket's CEO, Patrick Bühler states: "Our platform offers a marketplace-as-a-service platform where brokers and insurers can design specific coverage directly, which is automatically configured to operate within our system. We are thrilled to be working with Novo AI to enhance this capability. The addition of AI-driven features will enable us to draft better insurance products autonomously, based on existing policy wording. We believe this is the future of hyper-customized insurance."
Novo AI CEO: "We're very excited with the unique set of challenges that the digital insurance playground offers and to be partnering with a forward-looking partner like discovermarket on this. The sector operates under very different rules than traditional insurance, with a critical need for scalable, low-cost, differentiated solutions, particularly in policy management. This will enable first access to insurance for less privileged pockets of the population, and we're in a unique position to make it happen."
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Novo AI and discovermarket partner to take Embedded Insurance to the next level
SHANGHAI, Nov. 6, 2024 /PRNewswire/ -- From October 25-30, 2024, Homestyler made a stunning debut at the High Point Market, showcasing its cutting-edge 3D cloud design tools, business solutions, and Global Partner Program. The company is revolutionizing spatial design for home decorator, interior designers and enthusiasts, while helping design firms and home furnishing brands overcome efficiency challenges in 3D applications.
As a market leader in 3D cloud design for home decor and interior design, Homestyler originated from Autodesk in 2009, a global giant in 3D design software. In 2016, Easyhome and Alibaba jointly acquired Homestyler, which boasts advanced capabilities and a massive international user community. With a global footprint spanning over 200 countries and regions, and a significant market presence in the US, Italy, the UK, France, and Brazil, the platform is available in 13 languages and has over 17 million users worldwide.
Homestyler's 3D cloud design tools, driven by pioneering AI technology, deliver unmatched intelligence and efficiency. Unlike traditional floor planning software, Homestyler's AI-driven platform empowers users with a streamlined workflow for 3D spatial design, modeling, image and video rendering, truly democratizing access to creative design.
The platform offers an array of advanced features including multi-floor editing, custom furniture, tile flooring and full-home customization options, as well as smooth rendering and versatile marketing video production capabilities. To further improve design efficiency, the platform includes AI capabilities such as AI Designer, AI Decor, and Home Copilot, serving as a creative assistant, efficiency booster, and learning assistant.
Earlier this year, at the Milan Furniture Fair in April, Homestyler launched its Global Partner Program, designed to support design agencies, furniture retailers, real estate companies, and software agencies across the globe. Stephanie Ma, head of Homestyler's international business, revealed that the company had secured over 30 highly committed global partners at the exhibition. Given the US's status as Homestyler's largest user base and a market with strong brand recognition, the company aims to establish a US-focused business network with a view to broadening its global reach.
Homestyler has also pioneered digital solutions for international design firms, furniture retailers and real estate developers, and other key industry players.
A prominent hotel architecture firm in North America struggled with visualizing furniture arrangements in guest rooms, which negatively impacted sales performance. Homestyler addressed this challenge by offering a customized design solution that integrated seamlessly into the hotel's design and construction workflows, improving the efficiency of design feedback. The platform also introduced professional hotel room design templates and hospitality furniture, enabling a one-stop shopping experience that significantly boosted sales conversions.
A top-tier Italian tile e-commerce platform faced hurdles while attempting to transition from a 2D graphic design tool to a more advanced 3D spatial design solution. Homestyler stepped in with strong technical support, allowing the firm to significantly enhance its 3D design capabilities and reposition itself from a primarily tile-centric site to a full-service 3D home furnishing e-commerce platform.
Similarly, a leading Brazilian online architecture and interior design firm grappled with the loss of design projects and model assets due to staff turnover, as well as with difficulties in collaborating on design changes online. Homestyler provided a solution that streamlined team collaboration on design edits and asset management, facilitating project collaboration, improving delivery efficiency, and securely protecting vital design assets.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Homestyler Unveils Groundbreaking 3D Cloud Design Tools and Global Partner Program at High Point Market
