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Business, Technology,
Methodology- Expertise³

Squirro announces partnership with ConVista Faktor Zehn to bring AI innovation to the Austrian insurance industry

19/12/2017

Zurich, Vienna, 14 December 2017 – Squirro, the AI driven context intelligence and insights solution provider, has announced a new strategic partnership with one of Austria’s most established IT consultancies for the insurance industry, ConVista Faktor Zehn.


As part of the global ConVista Consulting Group, ConVista Faktor Zehn works with some of the biggest insurers in Austria. Through collaboration with Squirro, ConVista Faktor Zehn aims to establish innovative artificial intelligence (AI) based solutions in the insurance sector, using novel data insights to reduce customer churn and improve customer satisfaction and retention.

“We only choose to work with the very best strategic partners, and ConVista Faktor Zehn absolutely fits the bill for us,” said Dr. Dorian Selz, CEO and co-founder, Squirro. “It has a proven track record in Java, impeccable credentials in the insurance sector and a real willingness to work with us to develop a leadership position in Austria. ConVista Faktor Zehn’s know-how and expertise, in combination with Squirro’s market-leading AI technology, will be a powerful combination indeed.”

ConVista Faktor Zehn is one of Austria’s leading IT consultancies and has a reputation for delivering the very best technology solutions to its clients. Its extensive experience working with insurers means that it fully understands the challenges facing the industry, such as insufficient understanding of customer requirements and problems with retention.

“The insurance industry is ready for innovation, especially in Austria,” said Philipp Forsthuber, project manager at ConVista Faktor Zehn. “Many of the processes involved have been around for years and time and again, sales agents do not really understand the current requirements of their customers. This lack of customer insight is undoubtedly holding the industry back. Squirro’s technology has made a difference to insurers all over the world and we are sure that this partnership will also be successful in Austria.”

Earlier in 2017, Squirro launched its advanced AI platform TRINITY, which places Artificial Intelligence (AI) and Machine Learning (ML) at the heart of the enterprise. This technology provides users with detailed insight into structured and unstructured customer data, offering insurers a huge potential of possibilities.

Furthermore, Squirro is not a technology that is only used by data scientists – its insight is available to anyone within the business who needs it. Squirro provides a complete 360-degree view of each and every customer, so that insurance agents receive full information on that customer, their history and likely future intentions.

“The teams at ConVista Faktor Zehn are hugely impressive when addressing ways in which technology can help insurers, from deeper understanding of customers’ needs to significantly increasing sales and profits” continued Dr. Dorian Selz. “Squirro will play a significant role. We look forward to jointly kick-starting a revolution in the Austrian insurance industry, improving how data is used to deliver better service based on smarter insight.”

Although based in Austria and primarily targeting that market, ConVista Faktor Zehn also works with insurance companies in Germany.

About Squirro

Squirro's unique technology combines algorithms and predictive analytics, empowering organizations to turn meaningless data into relevant insights in real-time, in an automated manner. Its’ leading Cognitive Insights Engine uses AI, Machine Learning and Deep Learning, enabling organizations to detect new opportunities with AI-driven actionable recommendations and to develop  comprehensive understanding of customers, partners, and markets. Similarly, it can spot trends and anomalies in existing data and predict future incidents before they happen.

Squirro works with global data-driven organizations, predominantly in financial services, insurance and manufacturing industries, such as Brookson, Evalueserve, Investec, Helvetia Insurance, SwissRe, ING and Sony. Founded in 2012, Squirro currently has offices in Zurich, Munich, London, New York, San Francisco and Singapore. 

For more information, please visit: https://squirro.com/

About ConVista Faktor Zehn

ConVista Faktor Zehn GmbH is a specialist in the IT and Business Consulting sectors, specifically for the insurance industry. Since 2007, the company has provided a range of services to support clients’ processes, methods and technologies. The company works in partnership with clients to implement business strategies and optimize processes through software integration and development-  based on SAP, Microsoft and the platform-independent Java programming language. It specializes in policy management, product systems, and sales and service systems. 

As part of the ConVista Consulting Group, one of the leading consultancies for process and IT integration, the company benefits from an expert network and experience across the globe. The ConVista group has more than 350 clients in 22 countries. 

For more information, please visit: www.faktorzehn.at; www.convista.at

For further information:

Paul Allen / Rise PR

paul@risepr.co.uk / 07515 199 487

Geraldine Teboul – geraldine.teboul@squirro.com

+33 6 68 79 64 50