This year’s COVID-19 pandemic and subsequent lockdown, seem to have halted the global economy, resulting in dire projections for the year 2020 and beyond. Yet while things look uncertain in many areas, one thing remains true: life does not stop. Routine tasks pile up, bills keep coming, and the dates on the calendar just keep changing. This also means that regular insurance coverage packages expire just like they used to – be it health, life, or car insurance.
In many countries, the only way to renew an insurance agreement is in-person. In the current environment, breaking quarantine to renew your insurance seems laughable to say the least. Fortunately, there’s Aldagi, Georgia’s leading insurance company.
Just days ago, Shota Chachkhunashvili, Director of Aldagi’s Strategic Development department, announced Aldagi’s full digitalization. This means that Aldagi has become the only fully digital provider of insurance services in the region, relying on the latest technologies of blockchain and Artificial Intelligence.
From now on, all Aldagi’s processes will occur digitally, protecting the employees and clients both from exposure to the virus, as well as from unnecessary steps. Identomat is proud to be Aldagi’s partner in providing our artificial intelligence-powered solution for Identity Verification.
As Mr. Chachkhunashvili has explained in his interview to Marketer.ge, one of Georgia’s leading online media, relying on the best and latest of the Artificial Intelligence and blockchain technologies has been a strategic decision. With the growing interest in affordable and accessible insurance products, digitalization had been the obvious next step for the insurance market leader. The pandemic merely accelerated the change.
From now on, all transactions are verified and recorded via the blockchain (the main benefit of the blockchain technology is that its records cannot be altered thanks to cryptography). Thanks to Artificial Intelligence, which powers the Identomat solution, Aldagi is able to verify customers’ identity, accurately extract data from submitted documents, and process it according to all legal requirements and standards of online security and data protection. All insurance packages can be purchased and finalized online, including submissions of all related materials. When it comes to a car insurance package, for example, a customer can upload all necessary photos of the vehicle online and finalize the agreement. In the past, purchasing a car insurance package would require a company employee to examine the car and document the process, after which the documents were signed.
“Identomat also provides identification of our clients and insurance subjects remotely, which is very handy in today’s fast-paced world, ” said Mr. Chachkhunashvili. The key difference between prior service and the Identomat-provided service is that the customer obtains any type of insurance policy (price and insurance subject do not matter) without the need of bilateral signature, but simply through the web-application powered by Identomat – fast, easy and safe.
Identomat was created by Raizomat, the company behind a number of innovative tech projects. Raizomat is an expert in machine learning, data mining, robotic process automation. Businesses are increasingly adamant about implementing online KYC/AML compliance services, but it has never been as essential as it is today, when the world is facing the reality of the COVID-19 pandemic.
At Identomat, we are proud to have contributed and collaborated with the most prominent insurance company in the country of Georgia and look forward to bringing digitalization to the next level in Georgia and beyond. If you are interested in how our technology can fit within your business flow, and help your company grow, contact us today.