09/12/2024 | News release | Distributed by Public on 09/12/2024 08:30
Generative AI (GenAI) offers the potential to be a transformative technology, presenting exciting opportunities to rethink daily workflows but also new challenges relating to governance and compliance.
A recent study by Moody's found that financial services firms are taking different paths for GenAI (see figure below) with Fintech leading the way and the insurance industry taking a more measured path to workflow integration.
As the insurance industry continues on its path to IT modernization and cloud adoption, we anticipate that GenAI adoption will follow quickly, especially when these capabilities are embedded directly into their day-to-day tools.
At Moody's, we are approaching GenAI as a once-in-a-generation opportunity to do even more for our customers.
We are integrating GenAI and machine learning capabilities into our for-risk management solutions, with products across the insurance value chain aligned with our objectives and principles, upholding Moody's reputation of integrity and responsibility across all we do.
Introducing the Moody's Intelligent Risk Platform Navigator: GenAI for Risk Analytics
Every six weeks, Moody's introduces new, cutting-edge features on the Intelligent Risk Platform (IRP), and while this rapid pace of innovation is beneficial, it can also create a challenge for users.
Clients may find it difficult to keep up with the latest functionality or when revisiting essential features, such as grouping or treaty editing after an event, without detracting from their primary task of risk analysis.
Ensuring that our more than three hundred IRP clients, whether they specialize in catastrophe modeling, exposure management, or underwriting, are empowered and maintain a high level of productivity is crucial, but various obstacles can impede this goal.
For instance, a language difference between our client and their customer success manager can create communication barriers.
Clients need immediate answers but the speed of response can rely on customer success availability to promptly address queries and concerns, potentially slowing down the modeling workflow. Identifying and addressing these barriers is essential for streamlining processes and enhancing client productivity.
To help our customers make the most out of their Moody's cloud-native applications, we are excited to announce the launch of Intelligent Risk Platform Navigator, a revolutionary 24/7 conversational AI assistant designed to elevate the user experience.
Video: Navigator Conversational AI Assistant
Integrated directly into the platform's applications, the IRP Navigator is set to transform how our clients engage with and extract value from the platform.
It leverages cutting-edge AI technology to offer on-demand responses to product inquiries and help with workflows across IRP services.
Whether clarifying a specific application feature, assisting with data integration workflows, or offering insights on Moody's RMS models, the Navigator is a go-to solution for getting fast, accurate answers without leaving the platform.
The conversational AI assistant accesses a vast documentation repository, including Moody's Support Center, software and model documentation, and the platform's developer portal content.
With access to Moody's documentation, the Navigator provides robust support across a spectrum of topics, tailored to a client's specific needs and licensed products.
Some of the key benefits of the IRP Navigator include:
Faster Triage and Connection to the Right Levels of Support
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24/7 Real-Time Support
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Language Translation Services
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In-Depth Educational Support
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Empowering our Clients with the Latest Technology
The launch of the IRP Navigator represents a new chapter in user experience on the platform. As businesses face growing complexities in risk modeling and analysis, the need for on-demand support and seamless workflows has never been more critical.
Integrating AI-powered assistance into the IRP applications empowers clients with the tools they need to navigate our platform with confidence and efficiency.
From simplifying complex tasks to empowering users with on-the-spot learning, the Navigator offers clients a go-to assistant for maximizing productivity.
The Navigator's ability to offer real-time insights, streamline workflows, and provide educational support ensures that users get the most out of their IRP applications.
Whether a new user seeking guidance or an experienced professional looking to optimize workflows, the IRP Navigator is designed to be an essential resource.
The IRP Navigator is now live across the platform for all users. As we continue to refine and expand its capabilities, we look forward to further enhancing the platform's value and usability.
Client feedback is invaluable as we work to make the IRP experience even better, so if you are a platform user, please don't hesitate to share your thoughts with us.
In conclusion, IRP Navigator is more than just a support tool-it's a comprehensive assistant that empowers users to maximize their engagement with Moody's Intelligent Risk Platform.
We're excited to see the positive impact it will have on our clients' workflows and look forward to hearing how it enhances the product experience.
The Moody's RMS Intelligent Risk Platform™ is an…
Alisha is a Senior Director of Product Management - Applications, responsible for Moody's modeling application, Risk Modeler.
Alisha brings to Moody's more than 10 years of experience managing software application product pipelines across private and public sectors. She oversaw operations for robotic engineering projects at NASA and was instrumental in designing Kaiser Permanente's IT Clinical Call Center application. She holds a master's degree in Information Systems and a bachelor's degree in Economics from Santa Clara University.