This interview is part of our new AI in Insurance series, where we interview the world's top thought leaders on the front lines of the intersections between AI and insurance.
In this interview, we speak with Uljan Sharka, CEO of iGenius, to understand how his company is using AI to transform insurance, and what the future of the insurance industry holds.
1. What's the story behind iGenius? Why and how did you begin?
US: iGenius is a native AI company on a mission to reimagine data interaction and deliver intelligence powered by simplicity. Striving to democratize data, we give it a voice and make business analytics accessible. Our first product, crystal, is the first AI-powered advisor for data intelligence.
I founded iGenius in 2016, and we received one of the largest funding rounds from angel investors, getting $7 million in one go. With over 100 team members and offices in Milan, California, London, and Switzerland, iGenius is a scale-up company that thinks like an enterprise, where talented innovators can thrive and people come first. iGenius was recognized internationally by the likes of Facebook, Google, Web Summit, Startup Grind, and TechCrunch.
2. Please describe your use case and how iGenius uses artificial intelligence:
US: It’s about democratizing data and making analytics accessible. Machine learning allows us to automate time-consuming tasks that would otherwise require specific training and skills: data preparation and manipulation, for example, and extracting valuable insights out of large amounts of raw data. Gartner refers to this as “self-service data preparation”, and it makes analytics accessible well beyond the realm of expert data scientists.
Data is an essential competitive asset in today’s market and success depends heavily on it. With augmented analytics tools such as ours, companies can enable anyone to make data-driven decisions in real time, instead of relying on technical solutions accessible by a small percentage of the workforce.
3. Could you share a specific customer/user that benefits from what you offer? What has iGenius done for them?
US: In this particular use case, the Allianz Virtual Advisor can process data based on the company’s own KPIs, and answer any questions insurance agents ask via voice or typing, using natural language. This will allow Allianz agents to receive live advice and monitor their business activity anywhere. Allianz agents will use the virtual advisor from their smartphones to access data such as income monitoring, the performance of a particular product, and client profiles easily, with no need for specific training.