The new brokerage firm Altway Insurance has partnered with Google Cloud AI to integrate its AI technology into its new applications
Insurance broker Acrisure and investment company Tulco have launched Altway Insurance, a direct-to-consumer brokerage platform, supported by artificial intelligence (AI).
Google Cloud is claimed to be working closely with the new company on integrating its latest AI technology into the new AI applications.
Altway Insurance is set to offer quality insurance services and risk solutions through its network of Agency Partners, while Tulco claims to have been transforming several capital-intensive industries by deploying its AI systems to create competitive advantages across markets.
Tulco chairman and CEO Thomas Tull said: “While there has been substantial investment to fuse technology and insurance, today, there remains a massive and unmet opportunity to truly create the broker of the future.
“To meet that opportunity, we’re thrilled to combine the AI and analytics leadership of Tulco with the phenomenal growth and global distribution power of Acrisure.”
Altway Insurance will focus on serving new sectors of the economy including shared and gig workforces
Additionally, by working with Google Cloud AI, the company is expected to offer customers full benefits of an integrated AI product.
It will include marketing of risk solutions such as voluntary benefit policies by using proprietary technology to tailor coverage options, compare products, and simplify insurance buying through automated processes.
Acrisure president and CEO Greg Williams said: “As we have redefined what could be accomplished in terms of growth in the insurance broker space, we have looked for the right moment to partner with the strongest technology player to drive substantial innovation.
“In Altway, we’re confident that Acrisure’s unique capabilities and Tulco’s leading edge technology will drive new opportunities and create innovation in insurance distribution.”
Altway Insurance will be led by Brendan McCord, who serves as president at Tulco Labs, where he oversees the company’s machine learning engineers and data scientists along with AI research partnerships with MIT and Carnegie Mellon University.