CogniCor, a provider of AI-enabled digital assistants and business automation platforms for the financial services industry, has announced the launch of its enterprise-ready digital assistants for the insurance and wealth management sectors. These digital assistants, which use Microsoft Azure OpenAI Service, are designed to enhance the professional experience for insurance and wealth management professionals by maximizing their time.
CogniCor’s digital assistants utilize Azure OpenAI Service to offer guidance on compliance processes and forms, optimize workflows for onboarding, client review meetings, and financial planning. They are available through Azure Marketplace and hosted on Azure. The company has selected a client pilot group consisting of technologically advanced wealth management organizations, including AssetMark, Steward Partners Global Advisory, and Shufro Rose & Co., to deploy the Azure OpenAI Service-enabled platform. This will allow these organizations to scale their operations efficiently and provide a differentiated experience to their staff, advisors, and clients.
Dr. Sindhu Joseph, CEO and Co-Founder of CogniCor, stated that the advancements in artificial intelligence powered by OpenAI and large language models present tremendous opportunities for the insurance and wealth management industries. By collaborating with Microsoft and leveraging the power of Microsoft Azure OpenAI Service, CogniCor aims to enhance productivity, efficiency, and growth for users of these digital tools. The long-term vision is to provide a fine-tuned model of the OpenAI algorithms specifically tailored for the wealth and insurance sectors.
CogniCor’s digital assistants are built on their proprietary CIRA platform, which incorporates insurance and wealth management-specific operational workflows and knowledge modules. These assistants use large language models and knowledge graphs to understand user intent and provide accurate responses or actions that address the user’s needs. CogniCor introduced the first-ever knowledge graphs for the insurance and wealth management industries in 2021.
Matthew Kerner, CVP, Microsoft Cloud for Industry at Microsoft, expressed pleasure in working with specialized startups like CogniCor to extend their platforms into specific domains critical to industries such as financial services. Microsoft sees CogniCor’s industry vertical AI assistants as valuable tools that unlock potential in sectors like insurance and wealth management.
CogniCor is a venture-funded, female-founded fintech firm based in Palo Alto, California, focusing on the use of AI solutions to accelerate productivity and growth for wealth management firms, insurance businesses, and other financial services companies. Their scalable enterprise platform, CIRA, enables the deployment and management of AI-powered business automation, driving client engagement and business efficiency for wealth management and financial services firms.
For more information about CogniCor’s AI-enabled digital assistants and business automation platforms, visit their website at https://www.cognicor.com/.
