DIGIN 2023: Digital Insurance innovation faceoff 1

Transcript:

Penny Crossman (00:10):

Welcome everyone to our innovation Face off. I'm Penny Crossman, technology editor at American Banker and at Horizon, the company that puts on this conference. I work with Nate Alia at Digital Insurance and I've been a tech journalist for many, many, many years. And one kind of best practice that I always try to follow and encourage other people to follow is whenever we can try to test software before we write about it. And if we can't test it, try to at least get a demo because a visual is really worth a thousand words. You really learn a lot about, especially the customer interface, but about how the software looks and feels and how it works and where it might be a fit in the organization. So demos, these are pretty important to all of our jobs today. We're going to have two rounds of five demos.

(01:06)

Each demo will be eight minutes and people will be sung off the stage if they go over. Then we're going to have a couple of minutes of reaction from our expert demo expert judges up here on the stage with me. And then we're going to go to the audience and give all of you the opportunity to ask a question or two following up on the presentation, anything you want to know more about, anything you didn't quite follow, et cetera. So these are going to move pretty quickly. I think it's going to be really interesting. I always think live demos, people who do live demos are admirable. It's a lot of pressure, a lot of stress, sometimes wifi issues. So I always believe in giving people a warm welcome when they start and when they finish, even though traditionally you only clap people off. But first I just want to quickly introduce our judges. Today we have Margot Giles who is the CEO of an InsureTech called Iris. Iris, yes. Iris InsureTech. Yep. And it is a kind of a CRM for insurance companies, correct, but it also has database capabilities.

Margot Giles (02:22):

Yeah, it's an end-to-end platform for distribution. So anything that touches the consumer and an agent broker wholesaler, MGA.

Penny Crossman (02:29):

Excellent. And we have Deepak Mishra who is a senior associate at Ivana Ventures, which is the venture capital arm of CSA Insurance Group. He and his group invest in several sectors of startups, including in InsureTech, FinTech, connected home cyber insurance, and a couple of others. He invests in seed series A and series B companies and he typically writes a check of one to 10 million. And we have Nate Golia, who you all know and love by now. He has been our chairman the last couple days. He is the editor in chief of digital insurance and he is a very fun, smart, and witty colleague. Always, always good to be, I dunno. So with that said, let us go to our first demo and we have Ryan Glisa and we have Ricky Zeki, I'm sorry, Zeki. Valette at Glia. And please give a warm welcome to Zeki and Ryan.

Ryan Glisa (03:44):

Thank you Penny. Are we good? All right. So I'm Ryan Glisa. I am our director of sales for insurance here at Glia and we have changed the way that insurance companies interact with their policy holders and agents. And just a quick show of hands, how many people here, your companies in the last 10 years have made investments in any digital front end solutions? Right one to everybody. So it, it's no surprise what you've done is actually enabled an action for your customers and by action, I define that as something that can be done without the intervention of another human right, a true self-service type of experience. And so surprised when we looked at the amount of engagements that happen between your customers and your brand, the 80 20 rule applies like most things in business, right? 80% of the time the engagements that happen with your company are these true actions.

(04:48)

But what's interesting is that Glia analyzes billions of different engagements every year. And while actions take up the bulk of the total volume, it's actually driving the needle from a business. Impact is not actions, but rather interactions and interactions being defined as anything that's collaborative between you and your customers, which from a surface level probably makes a lot of sense. This is a relationship based business and conceivably it's much easier to think of a scenario where an insured non-news because they had a negative claims experience with one of your adjusters than it is to think of them sending new business your way via referral because you have a really cool online FNOL form. But while the impact is being driven primarily through these interactions, what we found is that innovation for interactions hasn't really happened over the last 30 years in the insurance industry.

(05:56)

You go to any carrier website, contact us page, you see the same channels of communication, phone, email, fax, contact, us forms, and these are all things that while we know interactions are making the biggest impact for us, we're offering up channels that in our day-to-day lives, I think we all have a general disdain for, right? Picking up the phone or having to wait for a response via email. And that's where Glia comes in into the picture. We elevate insurance interactions so that you can make the strongest impact with your customers and deliver a truly differentiated type of experience. So with that said, we're going to hop into a demo right here and I just need any good magician, a volunteer here from the crowd, just somebody with a phone. Anyone want to volunteer real quick?

(06:55)

Cool sir, if you could just scan this QR code and go to the site and let me know when you're there. All right. And what you're seeing right here is our demo environment. You'll have a shrunken environment of this, but Glia is ultimately this little bubble that exists here on any public site. So this could be any digital property, whether it's a portal, an app, a public website. It's a low code installation for anybody from the tech side here. So very easy to implement type of tool. So sir, if you could go ahead and click on the bubble there and then select Ryan from the dropdown menu. It says handsome gentleman right here, and then start with a chat for me please.

(07:48)

And so what you can see here on the screen is I am in the contact center in this particular case. So let's say I am an underwriter that's trying to assist the agent that's reached in with getting a quote for their client for homeowner's insurance. So what you can see here are two different things on the screen. First, on the left hand side you can see a chat function, just like anything else that you've seen before. We have some ways to drive efficiency there, but in the middle of the screen is what's truly innovative about this product is I actually now have immediate visual context as to where you are on screen. No longer do I have to ask, what do you see on your side? What does that air look like? What is it telling you right now? What page are you on? We're immediately synced to see that as soon as the engagement lands.

(08:42)

Now if you want to type me just a quick message and I need a quote for homeowners, as you can see as he is typing, I have a preview of the text over here. So oftentimes you're going to get a novel of what somebody's trying to do that first time. So being able to drive efficiency before that message is even sent is something that we've thought through and allowed your teams to optimize. So now as a service representative, I could certainly help navigate via chat, but maybe it's easier for me to just navigate with the agent directly on screen. We've already met them where they are, which is on our digital property, but now let's collaborate like we're sitting right next to them even though this is all done through the screen. So now I offered up the ability to co-browse and as you can see on your side, my mouse is moving and we are now working in that collaborative type of environment.

(09:43)

So again, it's like we're in office, but we're working as we do on a day-to-day basis through our digital properties. So I can navigate to the right sites, we can even fill out the form together, and we only work with financial services firms, so security is paramount in everything that we do. We can hide mass disabled fields that would be more sensitive in nature for your teams that you don't want them to see. Now, I did just rag on the phone a little bit before, but we all know the phone's not going anywhere and it's important for us to have a conversation. Let's say we get to the point in this engagement where maybe we're explaining more complex options that are needed here. So what I can do is actually upgrade this conversation. Everyone's heard of omnichannel communications. The difference between omnichannel and glia is that we are built on what's called channel list technology.

(10:40)

And what that does is instead of starting and stopping engagements like omnichannel would, right? A chat's going to start as a chat and as a chat we have to start a phone call. I can now transition in real time without any downloads or plugins between these different channels. So whether that's audio or video, we can add one or two way video. How often do you say if only we could build deeper relationships with our new underwriters and our agents that aren't out in the field as much? Right? Adding that personalized touch right here, which you can see on your side as well, correct sir, to even screen sharing at the click of a button or offline document collaboration that gets security scanned here in the system. So hopefully this gives you kind of a brief taste for the differentiator, the elevated type of experience that you can bring to your servicing operations, right? Customers are on screen. We live in a digital world. It's really important that not only do we meet our customers on screen where they are at that immediate point of friction, but also keep them on screen and navigate them through to the final resolution. I'm Ryan Glisa. This is Ben Glia. Thank you all so much for listening.

Penny Crossman (12:03):

Thank you. Ryan. Any reactions or follow up questions from our judges?

Deepak Mishra (12:11):

Quick question from my end. What are some of the unique data and insights that you're able to get from these interactions through different channels that you just showed us?

Ryan Glisa (12:21):

Did you hear that? Can you repeat that please?

Deepak Mishra (12:24):

Data and insights that you're able to get from these interactions.

Ryan Glisa (12:28):

Yeah, so being a channel is solution that allows you to transition. We're actually capturing that full engagement within one record. So we will have anything from the end survey results that your customers would provide back to you to all the channels that are used to storing all of the chat records, audio recordings, all within that same record. And we can push those downstreams via API into system of your choice.

Deepak Mishra (12:59):

And how do you see the conversion rate varies across all of these channels? What's the conversion rate?

Ryan Glisa (13:07):

Conversion rate for any particular activity? Yeah, so what we've found is, and it varies depending on the action that's being taken, but using an example, any online forms, what we found is that for using the phone or even just basic chat by itself, your conversion rates are usually pretty low, about like 32%. When we start to add channels like co-browsing and video into the equation, that number jumps up tremendously to actually about 168% more likely to convert that. So significant return on the investment or measured impact there.

Margot Giles (13:48):

I have a quick question. So this looks like it's in your platform. Have you done any integrations into policy management systems or underwriting workbenches or is the user always hopping out performing this in your platform and then pushing data back via API?

Ryan Glisa (14:06):

Yeah, our users are typically living in this platform and then we can bring in other systems via API, so screen pops and things that they would normally need to do there, but nothing needs to be installed locally there. So it allows us to obviously innovate and bring new functionality to the market very quickly for care.

Nate Golia (14:29):

I had a question about end user. When you're interacting with a customer, their device, is it able to work with a wide range of smartphones? A lot of people have a lot of different kinds of phones out there, so just does it have to be a top of the line smartphone for it to the co-browsing and everything to function or are you able to function fairly back.

Ryan Glisa (14:51):

Yeah, we tried it on my dad's flip phone and it unfortunately didn't work as well, but other than that, I think unless you're on a 2018 version of Internet Explorer, yeah, we're compatible with any browser and then any device. Yeah.

Nate Golia (15:08):

And also how did you get the name out of curiosity? Yeah, because it's so close to my last name.

Ryan Glisa (15:12):

Yeah, there's a long story that's probably best served over a beer, but it's, glia is actually the Greek word for glue, but it's also the glial cells are the largest cells in the brain. So we like to think of ourselves as powering the contact center.

Penny Crossman (15:35):

Learned a new vocabulary word. We're white. Do we have any questions from the audience make? Oh, Megan's got the microphone. We've got somebody over there. Yeah!

Audience 1 (15:55):

Hi. Can your platform be used also for outgoing communications and if so, does it also include consent management and preference management?

Ryan Glisa (16:07):

When we start getting in, so I showed a chat based starting engagement here, but the answer is yes. We could do things like we have an SS m s platform we can send out, we even have a telephony side where you can push out communications that way too. And the consent based stuff is factored in on that side. We leverage a platform to help some with that.

Penny Crossman (16:35):

Okay, great. Well let's give another round of applause for Ryan, Andy.

Ryan Glisa (16:41):

We have one more question.

Penny Crossman (16:43):

Alright, sorry.

Deepak Mishra (16:46):

Thanks. Is there any sentiment analysis in its recording of the transcripts or anything like that?

Ryan Glisa (16:53):

So we do have some partners that take it to another level, but we do have some light sentiment analysis based in, so if you put something that's frustrating in the chat, we have AI that's built in from an internal side so only the operator could see it that would say the customer's angry. So maybe you want to soften your tone, things like that. But again, we can plug in some preferred third party vendors that kind of take sentiment analysis and then voice analytics to the next level too.

Penny Crossman (17:27):

Alright, now let's have a final round of applause!

Ryan Glisa (17:30):

Thank y'all.

Penny Crossman (17:35):

And next up we have Carlos Parra at Laser Fish. Let's welcome Carlos. I'm sorry, we have Carlos Para and Jennifer Lee At Laser Fish.

Jennifer Lee (18:28):

Hi everyone. Oh, there it is. Hi, my name is Jennifer and me and Carlos are pre-sales engineers from Laser Fish. Laser Fish is an enterprise content management software that can provide a seamless end-to-end solution for the claims process that will both help the claimant making the claim as well as the insurers. We have easy to use low code and configurable process automation tools that allows the claimants to make the file claims much more smooth as well as insurers can easily review process and approve quickly alongside the claimant's policy as well as any relevant information that can all be stored in a secured centralized repository. Up on the screen here you'll see a easy to use configurable form where the claimant can start the process to make a claims request. So here with the red asterisk, it's indicating that we are required to make a selection from that dropdown to indicate what type of claims it requests it is. Or here we'll click collision and hit next here. If the claimant does know their policy id, they can enter it in. If they don't know the id, then they can also enter in their details in order to retrieve that.

(19:45)

If they do know their policy ID number, once they have that entered in with a click of a button, Laser Fish can do a database lookup to pull the relevant details and have that populate directly on the form for them. That's going to be one less step and one less area for input errors alongside with that. Now we'll be prompted to provide additional details regarding the incident. So here we have specific date and time fields to indicate the day and time of when that incident occurred. We also have a dedicated address field to provide where additionally, if the users want to provide more context and descriptions, there's also a text box right next to it to provide such details.

(20:33)

Since the claimant's policy has already been pulled up, when we go down to the vehicles section, we're able to click on the dropdown and a Laser Fish can do a lookup to pull the vehicles that are registered under that policy. Alongside with that, Laserfiche also has dynamic form fields such that depending on the user selection, the form will either show less or more. So if the claimant was not driving the vehicle, then there'll be additional fields that'll prompt for additional information such as the driver's information. So their first name, last name, and the relationship to the claimant. Again, if the vehicle was moving, we'll be prompted again to provide more details and to regards of what happened. But if it was parked, then the details are not necessary and the claimant can move on.

(21:22)

Form allows the users to fill out exactly what is needed and nothing more. That way it prevents less confusion and more accuracy. Here we'll be entering in any third party's information in regards to the accident. If there was none involved, the claimant can easily move on. If there was a third party involved, we can go ahead and make the selection of how many, and then from the dropdown we'll be able to select from a predefined list of manufacturers and based on that selection populate with the relevant models, the claimant can also enter in the year and the driver's information as well. Additionally, if there was any witnesses to that incident, we can also easily enter in their information down below.

Jennifer Lee (22:09):

After which we'll be prompted to indicate whether or not the vehicle was damaged. If so, again, the form will dynamically update and ask us to what severity and allow the user to provide additional context as to what the damage exactly was. We can also easily start the request for a rental car and the claimant can also upload photos as well as videos indicating the actual car's condition. And to finalize the claims request, the claimant can now provide general driving information, license number and if necessary, upload any additional documents such as any police reports or hospital bills. After that's all been provided, the claimant can agree to via the checkbox and sign the form to submit their claims request. Optionally, if the claimant cannot file the form all in one go, you can also save it as a draft so they can finish filling out the form at a later point. So after the claimant submits, they'll be greeted to a custom confirmation page where they'll be given relevant links to answer any common questions they may have. So once that's done on the insurer's side, the task will be automatically routed and assigned to a claim specialist that will now perform the initial review. That task, the specialist can be notified either through the web client, our mobile app or through email as well. On the screen here, you're going to see our web client and on the homepage, the specialist can now access their new task through their inbox.

(24:04)

The specialists can now review the information that the claimant provided as well as an embedded view into the repository so that they have direct access to the documents that was uploaded by the claimant. The folders are also automatically organized and standardized to a name. The folders also have a template assigned to them highlighting the key information from that claims request. And as we step through the form, you'll notice the previous values have been retained keeping everything consistent after which a claims number is automatically generated and the specialist can now move forward with either asking for additional information from the claimant moving forward with filing the claim or rejecting it, after which the specialist can now sign and confirm their decision and submit the task in order to complete it. Once that's done, where you can have set to have an automatic assignments to multiple claim adjusters or underwriters to finalize the review, again, they'll be prompted with the previous submissions and they'll see a form similar to what the claim specialist has seen, but after further investigation, they can finalize the details and assign a claim amount to that claimant. Then you can go ahead and sign and approve.

(25:46)

Once that's done, a settlement letter will be automatically generated and sent out to the claimant via email. A copy of that letter will also be saved to the repository alongside the original claims request form and their supplemental documents, as you've seen from end-to-end Laser Fish is able to facilitate the entire claims process going from the claimant making that initial request, the initial review cycle, we can also automatically update the status for the claimant and generate a settlement letter. As you've seen, the users have all been only focused on their task Laser Fish can do the data processing and organization for you. Thank you.

Penny Crossman (26:38):

Any questions or reactions from our judges?

Margot Giles (26:41):

I have a question. Is this for personal auto or do you have other lines of business?

Jennifer Lee (26:47):

Yeah, so this can be expanded to other use cases.

Margot Giles (26:49):

Is that something that comes out of the box or is it something that would need to be implemented per insurer?

Jennifer Lee (26:55):

I'm so sorry. Can you repeat that one more time?

Margot Giles (26:57):

No, yeah, I'm just saying is are the like, because you have dynamic questions and things follow certain cadence when they're with a line of business. So if someone wanted to use this for work comp claim or something else, is that an implementation that would be custom to that insurer or do you guys have some of that premade?

Jennifer Lee (27:13):

We have some boiler templates, so very general to get you started and then you can add finishing touches or custom to fit your actual flow. Otherwise, if you do want to take the artistic creativity, you can also start from scratch as well.

Margot Giles (27:27):

So is that low code or would there be development required?

Jennifer Lee (27:31):

All low code. So essentially with the forms it's just drag and drop.

Margot Giles (27:34):

Awesome.

Deepak Mishra (27:35):

What's for the auto site? What's the average timeline from submission to payment settlement?

Jennifer Lee (27:43):

It'll about, it'll all depend on the actual claims process, so how long it'll take for them to finally submit a form that's fully completed for the reviewers to do any investigations or fact checking based on their submissions. But it can be as instant as you've seen here or it can also be set to a set period or schedule such that they need to respond by a certain date.

Deepak Mishra (28:04):

Got it. And is there sort of any underlying technology that's sitting behind in your data submission or data gathering that's driving this decision making?

Margot Giles (28:16):

I'm sorry.

Deepak Mishra (28:17):

So any unique technology like machine learning or any OCR type of technology that may be sitting behind that's speeding up the process?

Jennifer Lee (28:26):

Yeah, so all the forms and the uploaded documents will have the OCR ran on it, so it can also be tech searchable. Alongside with that, with our cloud platform, we do have other capture profiles as well to read off the documents and we have a smart invoice capture profile that utilizes machine learning to pick up the key pieces of data.

Deepak Mishra (28:48):

Got it.

Nate Golia (28:52):

Sorry, Margo had actually taken my question, which was about other lines of business.

Margot Giles (28:55):

Sorry, I'm the Paula in this. Are you going to be the Simon? I guess. Okay.

Deepak Mishra (29:00):

I don't know.

Nate Golia (29:01):

I've never seen American Idol actually.

Margot Giles (29:02):

Well, and then the joke falls short guys. All right.

Nate Golia (29:07):

We kick to the audience. I have another question.

Margot Giles (29:09):

Yeah, sure. Audience question time? Yes. Do we have a question from the audience?

Audience 1 (29:22):

Could an insurer just use this platform to store and retrieve information. So if we were to put in a huge amount of medical information, we would be able to sort it and pull it back out.

Jennifer Lee (29:35):

Yes, you can do that.

Penny Crossman (29:44):

Did that not pick up?

Jennifer Lee (29:46):

Yes, that'll be possible.

Penny Crossman (29:51):

Okay. Any other questions? Okay, great. Well once again, thank you to Jennifer Lee and Carlos Parra at Laser Fish. Our next demo will be from One Span and our presenters are Will Lasal and Derek Al if I said that right? Yes. Welcome.

Derek Rabel (30:24):

Check, check! So hello, my name is Derek Rabel. Joining me today is Will Sala our CTO and we are One Span. One Span, we are the Secure Digital Agreements company. It's our vision to create a world of trusted digital interactions. And we aim to do this by fulfilling our mission, which is to accelerate our customer's digital transformation initiatives by enabling secure, compliant and refreshingly easy digital interactions across all browser enabled devices.

(31:04)

Like any good company that's been around for 30 plus years, we have a very vast technology portfolio. Essentially there are five elements to it ranging from ID verification to authentication solutions to help people interact digitally and virtually solutions to help folks transact securely and to help vault those documents or store them. For example, Laser Fish, they're a great partner of ours. We are here today to show you one of the most exciting new developments in the world of Secure Digital agreements. One of our new products, one Span Notary enabling us to perform remote noter acts from anywhere in the world between two parties. Although there are multiple different scenarios in the insurance industry where Noter acts are necessary. Today we're going to be going through the process of getting an affidavit signed for perhaps a claims workflow.

Will Sala (32:12):

Thanks Derek. So as we talked about, you just saw a little bit of our interface from Laser Fish, the interface itself, an admin console lets you brand and change the entire look of the environment so you can change the logos, you can make it your own when you're sending your requests out, the requests are coming from the carrier or from your cell, so it's not coming from One Span or from some other signature vendor becomes part of your brows, your environment, your branding. In this case here, we're going to go ahead and create a new transaction for ourselves here at Dig In. We're going to go ahead and create a new notary transaction. Now we've already set up some templates in here, so we're going to go ahead and create select our affidavit template. Now using templates you can upload and put a whole bunch of different templates as you're putting it in here. As we create this transaction, it already has a number of settings already pre-configured because we're using a template. So we'll go ahead and create this transaction.

(33:16)

Now in this screen here, as I'm already logged in as my notary, I can go ahead and add the signer or the client that I'm going to actually invite into the session. So I'm going to change this over to a recipient. I'm going to invite Derek into our environment here. Derek's already a member, he's already has a user account, so I already have his user information in here. But one of the things that we see with digital agreements in general is that digital agreements tend to be anonymous. So yes, all right, we've got Derek in here, but when we send the request out to Derek, Derek's going to get that via an email or an S M s or some other way. Maybe he'll log into your customer portal, but he's probably going to have to prove their identity first and foremost. So we can actually do that in here when we're actually setting this up.

(34:05)

So we can do things like knowledge base, question and answers. We can also set up different types of authentication. Most importantly here we can do document verification. What this is basically allows us to, as the user is coming on board, they can go ahead and take a quick photo of their government issued ID like a driver's license or a passport. We will then validate the document that it has isn't fake, it isn't a deep fake, and that the information on it is what we expect it to be. And then also we'll snap a quick picture of Derek's face and verify that the face on there matches his license. In our demo here, we're going to ignore the PII and go back to just doing it without it. Appreciate that. But every state has different requirements as you're setting this up. So notary is being a remote online notary, still being a newer technology.

(34:59)

Different states have different requirements and what our platform allows our notaries to do is to advantage of making certain that they meet the compliance, the regulation in those different states. So as we kind of step into this transaction here, I'm going to go ahead and show you the form. So this is just quick drag and drop. Again, we're using a template, so everything's been preset up for us. You can see the signer, we can see the notary. And as we have different fields down the sides, we'll be all configured on that. The one piece that I need to set up here is actually the date of the transaction. So the notary is going to invite the user to actually come in to perform the transaction itself. And so we will set a date of right now, which is 170405 2006. Sorry, there we go. You can click the drag, the date, drop down and select that yourself. So we'll go ahead and quickly create this. You can set the session to be longer than what it needs to be. You can set it further in the future. You can even do it on demand. So in this demo here, we've got ahead and set this up and added the piece in. From here we're going to go switch over to Derek. Derek will receive an email, go ahead and switch our display.

Derek Rabel (36:29):

So yep, they've just switched over. I'm sitting here in my Outlook email and you'll see I've just received this notification from One Span sign. It's worth noting that for all of our clients, this entire portion can be totally rebranded to reflect either your MGA firm or your brokerage or your carrier brand where it says signers at eSign live. That could be branded to reflect your company's domain. And all of this messaging here standard can be fully customized to reflect whatever you feel would be most effective. For the purposes of this demo, I'm just going to go ahead and click in and go to event and you'll see it. It brings me here to this waiting room so we don't have a bunch of reverb. I'm going to go ahead and mute that mic, check the box.

Will Sala (37:31):

Now this is where you would actually perform. Oh, mic is much louder. This is where you'd perform identity verification or some type of authentication to get you into the session as well.

Derek Rabel (37:40):

Correct.

Derek Rabel (37:44):

You see it's putting me into the waiting room here.

Will Sala (37:47):

And so as I get started here, so now I'm going to go ahead and start the session. We can switch back over to my environment here and now you can see here actually I can see that Derek's in the session. We've got the transaction ready to go. We'll go ahead and start the transaction. We have our images in here. As I mentioned, the different regulations that you need, maybe you'll need to record this. So we'll go ahead and record the session based upon where we are. We'll put in some information here. So Derek is the client. He is 121 West Wacker.

Derek Rabel (38:22):

This is information that would generally be provided as a responsibility of the authorized notary just in their ledger to set up the transaction.

Will Sala (38:33):

And the information will usually be that we're verifying that Derrick is who he says he is. So again, being the notary here, I need to make certain that I've got, I know who Derrick is and I'm okay with that. So at this point here, we've got our affidavit in. I'm going to pass control over to Derrick. So we're doing co-browsing here. Derek can go ahead and take control.

Derek Rabel (38:54):

Go ahead and accept control here. And this is just a simple mock affidavit basically stating that I was present and saw the events that occurred on this particular date. And just need to set up that I am a resident, so I'll type in Chicago, select Illinois over the age of 18. I'm competent to testify. Yes, I saw that. I declare okay, let sign that.

Will Sala (39:30):

Perfect.

Derek Rabel (39:32):

And I hit confirm.

Will Sala (39:33):

And as soon as he hits confirm, it goes back to me. And so now in here I will simply add my notary, I'll sign and add my notary seal into this environment. So I go ahead and click sign, confirm my notary seal and essentially the transaction is complete. So we will finish this up. So show you my notary information. We'll finish this up. We'll say thank you to Derek. We'll end our session and as we end our session here, it'll go into the notary journal so that we can go ahead and record our information and finalize this transaction here. And that is our demo in general and

Derek Rabel (40:16):

Great solution for any carrier that wants to provide Noter acts as an extended part of your service portfolio. Yes.

Penny Crossman (40:29):

Thank you to Will and to Derek at One Span. Any reactions or follow up?

Nate Golia (40:38):

So I actually did use, I dunno if it was your platform or not, but I did have to use a notary when I was moving recently and we didn't do the hold up your ID to the camera, but I guess it'd be in that when you were stacked on each other, that's where you can pick up from there all the information to verify the id.

Will Sala (40:59):

That's right. Yeah. So generally speaking, so you're going to have, you can have as many people in the room as you want, but the people that you're going to put in there, the notary is going to set those all up. The person at the top of it is going to be a notary and then the people that have been added. So you might have an agent in there, you might have other members that are part of that as well. Yeah.

Nate Golia (41:20):

I do have one more question, but I'll let them go first so I don't steal it.

Margot Giles (41:22):

No, it's okay. I have a question about, I think you said the user had already set up an account in this demo scenario, but is that, are they required to set up an account previous to signing? No. Okay. And if they did, what is that process like usually? Yeah.

Will Sala (41:36):

Yeah, so you don't have to have the account set up. What has to happen is when you're creating the template, you're going to need to add a user to it so the notary can create the user that goes into it. Again, this could be a brand new user to your environment, which means all the more reason that you're going to want to do some type of identity verification on the user before they get in and actually sign whatever this is.

Margot Giles (42:00):

That's my second question, once I've used your notary service once and I need to come back and notarize something else again a year later at renewal, do I need to go through that process again? Are you storing any of this information?

Will Sala (42:11):

Yeah, so that's actually the real nice thing about One Span is so verified, the identity verification is usually only the first time. After that we credentialize you, we give you authentications, authenticators or different ways of authenticating biometrics, whatever they are. And the next time you come in, you're just going to use the authentic, the credentials to get back in. That's nice.

Margot Giles (42:29):

Yeah.

Deepak Mishra (42:30):

Similar note. What's the business model? Is it charged subscription to MGAs or clients? I'd love to understand more.

Derek Rabel (42:39):

Based on the number of transactions you would forecast for a particular year. We could do multi-year terms if necessarily, but that's generally our standard pricing, consumption based volumes.

Nate Golia (42:54):

My other question was about the end user. Can they use their phone or does that they have to be on a computer?

Will Sala (43:03):

No. So they can sign on the phone. So this is, it's a reactive page. So you could use this in a web browser as well on your mobile phone.

Derek Rabel (43:12):

Any browser enabled device.

Will Sala (43:13):

Yeah, exactly. It's all API driven too. So as you saw with Laser Fish, the environment should look similar because that's an API embedded into it. So sure.

Margot Giles (43:23):

I lied, I have one more question. Okay. What's your biggest differentiator between you and your competition?

Will Sala (43:29):

Yeah. So the main differentiator for us is we're working more towards secure security, adding it into the digital agreements. So a digital agreement itself is really just a commodity. So there's lots of different people that are doing digital agreements out there. There's maybe a big fish in the water out there. But from our standpoint, what we really kind of focus on is bringing that identity into those agreements. So working, listening to what Gardner and some of the other analysts are saying out there right now, digital agreements don't have the identity really associated with it. And ultimately that's a problem as we go into title and making certain that those agreements kind of move forward beyond that and have a life beyond that. So One Span looks to bridge that entire gap, really bring in the identity, the interaction that you saw here with notary, the intent with the signature, and then ultimately to put that on the blockchain and get it ready for non-repudiation.

Margot Giles (44:29):

Could this replace my document generation DocuSign agreement?

Derek Rabel (44:35):

Absolutely. Okay. Love to!

Derek Rabel (44:38):

Make, if I might add to that too, the other big differentiator from us is that it can be fully white labeled and rebranded. So instead of your current provider's name being overall of your digital agreements, imagine your company's name and those emails come from your domain. Wouldn't that work to maintain a much higher degree of trust in the eyes of your clients generally leading to much higher rates of digital conversion or reduced rates of application abandonment?

Ryan Glisa (45:07):

Yeah.

Penny Crossman (45:08):

Perfect. Okay. In the interest of time, we're just going to take one or no questions from the audience. Does anyone have one quick question? Okay, so let's go on to the next demo we have. Thank you very much, Ian. Thank you. Oh, I'm sorry, yes, that was One Span. Next up we have Rick Morian at Nuance. Please welcome them.

Kyle Boden (45:40):

Can you hear me? Awesome. So my name is Kyle Boden. I'm a RVP of insurance Sales At Nuance Communications we have my colleague Rick, who's a digital solutions specialist. So we are Nuance, we're a Microsoft company. We were acquired 18 months ago by Microsoft, and we are the market leader in delivering conversational experiences across our voice and digital channels. With over 20 years of expertise, we're consistently delivering best in class enterprise grade solutions that deliver on operational savings and improve customer experiences. I'm going to pass it over to Rick. Rick is going to walk you through how using our low-code application development platform to build a voice and digital bot using generative AI in under eight minutes. Got it, Rick?

Rick Morian (46:36):

Yeah, thanks Kyle. Yeah, so this is Nuance Mix you're looking at on a screen. I don't have time to go into a full demo of Mix and go over everything that's there, but I encourage everybody to sign up and join. It's on, it's free to explore mix.nuance.com. You'll see right there on the dashboard, you can see videos, tutorials, how tos, there's a community page that you can access and share information with other users of Mix all the documentation is accessible here as well. We have a full documentation library and learning library. So what I will do today is focus on one particular capability of Mix, which is what we call Mix co-pilot, which is a Microsoft co-pilot feature that we've enabled within Mix to be able to build using generative AI to be able to build not only build the dialogues, the NLU and everything that's necessary, but also in this particular we're going to use mixed answers, which builds an ingest data from a data source that you can define, pulls that data and then creates an FAQ bot in minutes. So we're going to go ahead and do that right now.

(47:43)

So first I go into, this is where we organize our different applications. They're called projects. And within each project you have the details of that project. You have targets, which are the different channels, so does an omnichannel build, wants deploy many solution. Here we see Apple Business Chat, all the social media channels, these are all targets that are available. I'm going to create a new project. I'm going to click the plus here. I'm going to go mix answers and just continue. And here I'm going to use the URL for the conference itself. So the DIGIN conference and we'll hit kit next, give it a name, we'll call it DIGIN. And hit create. So now you see it's building, it's using copilot to actually generate the product, the intents, the entities, the data types, all the values. It's going to do this in a couple minutes.

(48:33)

And afterwards we can go in, we can review it and real practice for production you would want to, and we can is what is use like a backend, let's say knowledge management system where you'd want to use your intranet and we can curate and data tag to make sure that only the information you want is shared. Another thing that's doing here is using binging. So we're using Microsoft Binging to pull this information and then we're taking it IT in Azure content moderation before Azure OpenAI is returning the information back. So we can click right here to try it, but I'm going to go ahead and open the project here. So we can take a look at the dialogues that it created.

(49:16)

And you can see right away, there's a couple things I want to tweak. So it just says, welcome to your starter project. I'm going to change that to welcome to the DIGIN conference. And then it says, how can I help you? I'm just going to make that, how can I help you today? So these are simple little tweaks you can make. This is within the dialogue management and then within the application you can then go and try your application with the associated channels. And I'm going to go ahead and ask it a couple questions. Let's see how it does. So welcome to DIGIN. How can I help you today? I'll say is the conference in San Francisco? Let's see. So you see the, it says answer provided from Azure OpenAI. Yes, the conference in San Francisco. You can find more information and provides a link. I can also ask like who Eric Siegel. So this is just using the information that's directly there on the conference website that it's scouring and it's making it conversational. Again, Eric Siegel, predictive analytics expert, bestselling author. Another way this, now because I have the channel defined, I can also go ahead and add a different channel, which as Kyle mentioned, we're going to show this in different channels. So where I do that is in the dashboard, I can go here, select a target, add a channel. I'm going to add an IVR channel, save it.

(51:04)

And now my project is IVR enabled as well as digital VA enabled. So I have a right here. Lemme get rid of this annoying thing. I don't know what that, okay, so right here is the website with an overlay. So this is the actual insurance website. This is an overlay of the chat, disappointed to my project and the agent ID up here so I can actually interact with it directly. How can I help you? So I can say where is the conference held? And so it gives me the response right there. This is without saying the Azure opening ai, which we saw on the backend. It's just giving me a more user friendly response with the link, which I can click on and I can navigate to that. And now I'm going to call in to the I V R channel. I have connected to my demo and we'll do the same thing. Are you getting audio? All right, I may have to just do it with this.

IVR (52:26):

Just hold it up. Welcome to the DIGIN conference. How can I help you today?

Rick Morian (52:31):

Yes, where's the conference being held?

IVR (52:38):

The DIGIN 2023 conference will be held at the San Francisco Marriott Marqui.

Rick Morian (52:45):

How can I find out more information about the different sessions that are available?

IVR (52:52):

All sessions can be accessed through the agenda page ticket holders must be logged in order to access sessions.

Rick Morian (53:00):

Who are the keynote speakers this year?

IVR (53:06):

The keynote speakers for DIGIN 2023 are Deepa Sony, Executive Vice President and Chief Information Officer at The Hartford. And Eric Siegel, PhD Entrepreneur, bestselling Author and Founder of Machine Learning Week.

Rick Morian (53:22):

So you see, just in a matter of minutes, we've created a Open AI generated omnichannel. So it's on IVR channel, digital channel. We can add SMS, anything, you name it. And really this has taken what used to be months and months of work to build something like this. Mix made it reduced to weeks of work. And with the new capabilities with generative AI and copilot, now it stay. You can do things in days, build a complex, robust conversational AI. Kyle, anything you want to add?

Ryan Glisa (53:55):

That was a great, great demo. Opening up the questions.

Margot Giles (54:03):

Hello, is this on? Okay. Who do you see within the insurance vertical as your ideal customer? Who would you look at using this the most?

Ryan Glisa (54:13):

Mean we work with, so first of all, nuance works with 85% of the Fortune 109 out of 10 of the largest financial institutions work with many p and c life insurance providers. So it's mostly carriers that are providing insurance to policy holders. So we can optimize a claims experience, we can initiate that claims experience in an automated channel like a voice or a digital channel. We can pick off, we can self-serve in that channel or we can essentially capture as much information from that policy holder as possible and then pass it over to a live agent and allow agent assist technologies like transcription next best action sentiment analysis. So it's the whole life cycle of that policy holder experience.

Deepak Mishra (55:09):

And are you seeing any use case in underwriting or any other areas in insurance value chain?

Ryan Glisa (55:18):

We don't typically work with underwriting solutions. We're more front end from that perspective, right. Interacting with the policy holders and providing that front experience for those people that are coming into the organization.

Deepak Mishra (55:36):

Got it. And is there audio or I guess there is a video transcription as well as any images. So let's say someone is trying to transcribe an image. Are you guys able to do that as well?

Rick Morian (55:51):

So transcribing, when you say video transcript, transcribing the audio out of the video.

Deepak Mishra (55:56):

Yeah!

Ryan Glisa (55:58):

We have a leading transcription engine. Our accuracy rating is between 90 and 95%. So you can use that to transcribe the audio coming in from a call, whether it be right, the call coming in on the automated channel or at the agent level, if you have audio from videos, you can run that through the transcription engine, word it in a backend, do whatever you need to do with that transcript. From an agent perspective, what's really great about it is if there's a language barrier can transcribe the audio coming in it to the agent. They can read through that transcript to make their jobs, make their lives significantly easier.

Rick Morian (56:47):

And just want to add all of that, all of our transcriptions, like our ASR, our, all of the things you need for your voice experience, like the grammars and all of that tuning it all lives in mix. So everything is within this platform. So like I said, we could do a probably two hour demo just on what's in mix, but all of that lives in there.

Nate Golia (57:09):

I'd actually, yeah, that's my question is can someone call in and if they were speaking Spanish or if they're typing in another language, is it still able to respond?

Ryan Glisa (57:17):

So the application would need to be built for individual languages, but Nuance supports 85 languages. We're a global organization and we've deployed solutions that are English, that Spanish, English, Spanish, French, Canadian, Canadian, Indian. So all across the globe we can deliver these applications but it's not necessarily translation, right? It's more transcription.

Deepak Mishra (57:50):

Just another quick question, sorry. No, it's okay. What's on of the future product roadmap and then maybe use cases as well.

Ryan Glisa (57:59):

Can you repeat the question? Yeah.

Deepak Mishra (58:00):

The future product that you guys are thinking about, especially for insurance industry.

Ryan Glisa (58:07):

Future product roadmap.

Rick Morian (58:08):

Future product, future. Yeah, so I think around, so Mix is currently it's evolving into as part of the Microsoft Azure. So at some point it's going to become an Azure service as well. It's going to be all of the M-APIs that are part of Mix are actually going to be consumable through the Azure marketplace as well is one of the big initiatives we're making right now as part of the Microsoft acquisition.

Ryan Glisa (58:38):

And paired with a lot of the Microsoft technologies and the nuance technologies, we see the future coming to Bear as a full c a s platform or this. So it's not just the automated channels, it's the agents as well and having that whole kind of contact center delivered for the carriers and what not.

Penny Crossman (59:04):

Okay, great. Any questions for the audience? Oh, we got one back here.

Audience 2 (59:22):

Yeah, great demo. Thank you. And this is basically an FAQ off of a website, but something like a little more complex knowledge base for an insurance carrier or something of that sort. Yeah. What does the testing look like? What does it, the rollout into production looks like?

Rick Morian (59:46):

Yeah, great question. So you're, what we typically would do right is we want to use this stuff as almost like a fallback beyond, so you're want still want to generate the deterministic AI intents and NLU and everything. And then anything that is not answered by that, you want it to be handled by degenerative ai. And the way we, we've been doing this for like you mentioned, knowledge bases, backend systems is we have the ability through the Azure Open AI service to actually curate it. So we can do data tagging. A lot of times you'll have things in there that, let's say it's an article that says this part is for the customer, this part's for the agent. You don't want the part for the agent to be read out or provide it. So you can hide that. So you want to do that data curation, which is all available within Azure opening AI to be able to do that. And then the next part of it is running it through the Azure content moderation service to make sure that there's no kind of funny business going on. This is where the responsible AI initiatives at Microsoft come into play. So there's a lot of factors there that we go into in depth on of responsibleAIthat's very important when you're incorporating generative into your contact center responses.

Penny Crossman (01:01:11):

Okay, great. Thank you very much to Nuance Technologies. Thank you.

Penny Crossman (01:01:20):

And last but definitely not least for this round, we have Spear Technologies and we have presenting Brian Mack and Jose Buio everybody.

Brian Mack (01:01:30):

Hello, thanks for being with us this morning. My name is Brian Mack and this is Jose, the co-founders of Spear Technology. And what we have done is we design, develop, and support core administration systems for the p and c insurance marketplace. So that's policy, billing, claims portal, data analytics, all of that combined. What really makes us different is we've done this utilizing and building this using the Microsoft Power platform and the Microsoft Power platform for those of you who may not be familiar with it, is a combination of tools that provide a low code platform that enable us to do things and our clients to do things very quickly and very inexpensively. So the core application is built on a tool called Power Apps, and then we also use Power Automate for all the business rule automation and integration. And then there's AI Builder that has a bunch of preset AI models that enable us to integrate throughout the whole application.

(01:02:51)

Other tools, power Pages we use for the portal. We also use Power BI for data analytics. And also just very lately, and you heard a little bit of it right here, is Microsoft has come out with something called Copilot, which a lot of you probably heard about out there across the marketplace generally that has some very specific applications within the platform. And so what this really enables us to do, and I'll say we use all of that power platform and that's really one of the differentiating factors. It enables our clients to take ownership of that platform and to have to be able to use those tools as much as we do. So it enables them to really take control and more ownership than any other vendor based solutions certainly that we see in the marketplace. So that's what we do. We're going to try to spend most of our time here. Jose's going to walk you through the application and the different components and give you a sense of what we've done.

Speaker 19 (01:03:58):

So I'll start with showing kind of the front end. This is a claims management system built on power apps and then we'll move on to different components. So you can see examples of how we're using this platform. So the first one is Pure Claims. It's a full-blown claims management software. You can see on top, you can do searches similar to a Google search where you can look for claims or invoices, check numbers, you can do quick data entries, very important sometimes for examiners to be working on a screen, but then maybe add a notepad or a diary so you can use this to do that very quickly. You have real time notifications that work in combination with business rules. And then you have on this side, you have all your recent claims, pin claims, you have accounts contacts, and I'll show you some examples of a claim so you can see the different modules.

(01:04:53)

But the dashboards are pretty cool. They're very interactive. This is using power apps dashboards as opposed to Power BI dashboards. I will show you an example of Power BI dashboards in the portal using natural language. But the dashboards right here. Again, interactive. I have my litigated claims if I want to see it by adjuster, I can just click on adjuster, select the chart type, and then I can also go and see the data behind the scenes. And then from here I can just access a claim or even filter by the dashboard itself. So again, pre interactive dashboards and not only charge, but you can also pick different components of the application and show it in the dashboard. So if I have pending payments or pending diaries, I can just go in there and work off my diaries, complete them right from here. So it's not just a recharge, you can actually use it almost as a workflow tool.

(01:05:50)

There are much more many, many other systems within these systems because we do case management, we do policy management too. But maybe let's take a look at the claim where you can see this is a claim for Gina Best. You have your summary, you have your claim screens, and these are all the different screens that you have for the claim system. So you can see that we have payments, reserves, integrations with ODG, ISO, FROSROI, EDI, etcetera. Same thing we're doing with power apps. We're doing for the policy system, where in this case this is pure policy, it's only integrated looking at the database, which is a Microsoft database for online transactions. And in this case we're looking at submissions, but we also have of course, policies, invoicing, auditing, and all the different components of a policy system.

(01:06:46)

If we take a look at, this is a client facing dashboard where they can enter new claims, they can look at existing claims, and they can also do reports and dashboards. So in this case, I'm just showing an example of a dashboard using natural language querying. When a client can go in here and say, for example, give me the total A and total incurred, and then the system knows how to display the data. So if I keep going and say, okay, total paid and total incurred by last year, for example, and claim type, sorry, it helps if I type better.

(01:07:33)

So here you can see how it knows how to display the information. It's a little more complicated chart, so it displays as a table, and then very easily you can get information that you want instead of just looking at a given dashboard. You can ask questions. If we look a little bit in the backend, the low code is not just for the front end, it's also for the backend. So if I'm looking at developing business rules or connectors, it's super easy compared to what we used to do in the past. So right now we're taking a look at some business rules. Someone like open a business rule that says, when an examiner changes in the system, we want to do a few things like generate a notepad, generate an activity, and then send a diary. So in this case, you can see this is a business rule.

(01:08:21)

It shows you when it run, how long it took, it gives you access to maybe improve that business rule gives you tips. And then if we just go into the rule itself self, you can see that it says, okay, when an examiner changes, I want to do a few things. And those few things are generate a notepad, add a task, and a notification. Now, we had an example of a client saying, how about sending a text message to the claimant saying that you have a new examiner? So for that, we can use a connector called Tulio. Again, power automate what we're showing right now it has 450 connectors, so out of the box and they keep working on new ones. So for example, right here I can say, well, after this, I also would like to send a text message and I'm going to use Twilio. So I just start typing, it finds a Twilio interface, and then I can just speak this one that says, send text message. And really something that took us maybe two weeks in the past. Now it takes 10 minutes.

Brian Mack (01:09:27):

And I know we're running out of time, but obviously boatloads more to see. But when we get into these systems, enterprise mission critical administration systems, we view this as the next generation and that we're using a low code development platform, not something that we've gone and built or cooked up. We're using one of the leading low-code development platforms in the marketplace generally, not just in InsureTech, on every component of that business rules ui, it gets you to a cloud, truly cloud native solution, true low-code solution, true multi-tenant solution, and true open API solution. So all of those get addressed by the use of this platform, and we basically infused 30 plus years of experience in this space into the platform to develop products to offer to the marketplace. So thanks very much.

Penny Crossman (01:10:32):

Any reactions? Questions?

Deepak Mishra (01:10:35):

Quick question on my end. How much do you have to customize for different provider or different type of insurance clients? How much customization is needed and how does integration works for those customizations?

Brian Mack (01:10:49):

It is really tough to hear you. There's kind of an echo. So how much can we customize it? Yes.

Deepak Mishra (01:10:53):

Customization and Integrations.

Brian Mack (01:10:54):

Yeah. Well, with respect to customizations, it's tremendous capabilities in that all of the low code can be, we have gone and configured the systems and then by implementing with a client, we can implement a client layer or the client can implement a client layer or a system integrator can implement a client layer layer to really be virtually any enhancements that they would need to the ui, to the business rules integration, so forth. Now they will be able to take advantage of our core system configuration, and then on top of that and so forth. In addition to that, so you've got multiple layers where Microsoft will continue to upgrade the power platform, and so you're riding that wave as well. So there's multiple layers to be able to take advantage of, but that's one of the things is the low code capabilities for true customization per client requirements is immense.

Speaker 19 (01:12:00):

And again, they don't start from scratch. I mean, in this screen we're just showing some of the models that come out of the box. So if you want to do invoice processing, sentiment analysis, carrier classification for text, you can just use these models that exist and just configure them.

Margot Giles (01:12:17):

So I have built on platforms like this for 15 years. And the question that I have for you is, with your intellectual property and what you've put into the system today, how do you manage customers coming in and changing and making their own configurations that could be destructive to your internal, configure, your internal applications already, and then how do you keep release schedules and things like that for people from basically going in and completely burning it down?

Brian Mack (01:12:45):

Completely understand. Yeah, we've lived the life and as a software vendor over time, one of the things that really we latched onto when we went down the road and decided to do this concept is, again, we're taking advantage of this platform and the power platform. So power apps, for example, we're going in there and we've developed a model driven application within Power Rats. That gets loaded into the client's tenant, if you will. The client then and us for implementation or si or the client themselves can implement that client layer of enhancements. Customizations. That's where I was going before. Now when Microsoft upgrades, the platform doesn't touch that, right? It upgrades the core pieces. When we provide a new upgrade or to our product, we're doing it at the core managed application level, which doesn't affect the client layer. So we're really taking advantage of the power apps infrastructure with regard to that. I don't know if you wanted to add anything, but so we think it's a really good solution along those lines because we live those problems where clients wanted to take it off on their own direction, and then we ran into issues with providing them upgrades, and that's, we think has been resolved here.

Margot Giles (01:14:07):

Awesome. Thank you. I have any questions? No. Okay.

Penny Crossman (01:14:11):

Any questions from the audience? Okay. Well, I apologize, we went over a little bit of time, but thank you again to Spear Technologies. Thank you much. I'd like to thank all our demos today, and I'd like to thank our great panel of judges. These were really interesting questions, so thank you everybody.