Artificial Intelligence: Vaiot, IBM’s Watson, And Cosmos Combine To Sell Car Insurance

Another marriage of the blockchain with AI.

Ok, you spotted that. The screenshot above is for travel insurance though we’re talking about car insurance. But essentially, the process is the same. Enterprise AI developer VAIOT has integrated AI using IBM’s (NYSE: IBM) Watson Assistant to sell car insurance via an app and record the contracts on the Cosmos blockchain. (

VAIOT offers an AI-backed digital product/service distribution channel

VAIOT utilizes multiple AI mechanisms, such as natural language processing, to create a new channel for delivering and accessing various services with a better user experience.

VAIOT’s Intelligent Virtual AI assistants (IVAs) make the purchase process very simple and user-friendly:

  • Personal assistant functionality with a natural user interface
  • Users can purchase products and services or communicate digitally through an automated service distribution channel.
  • The customer simply makes his request to the AI assistant and provides input data as requested. The technology takes care of the rest.
  • The Virtual AI Assistant simplifies business processes and reduces costs for both enterprises and consumers.
  • Blockchain provides an additional level of security, protecting customer interests.

The insurance sector has long demanded that its procedures be digitized to offer self-service and automation. AI-powered smart assistants have risen to the occasion and proved their worth during the pandemic. They satisfy consumers’ need for instant and digital transactions, and insurers’ requirements of cost reduction and superior efficiency.

Car Insurance

Now, VAIOT and IBM’s Watson Assistant combine to communicate with potential car insurance customers, process the deal, and fill out the contract using the blockchain.

The process is fully automated and the insurance company does not need to supervise it.

The customer is now able to buy car insurance automatically using VAIOT’s IVA. It manages the whole process of making a purchase decision, issuing, and delivering an insurance policy.

An IVA will collect relevant information from the customer through the mobile app. It will then culminate the process through the issuance of an Intelligent Contract.

The IVA will use the blockchain for authorization, signature, and store operations.

According to Coin Telegraph, the signed insurance contract would be stored on the Cosmos SDK. It will be in the form of a smart contract, underpinned by the Tendermint Protocol.

End-to-end solution

“Utilizing AI’s full potential is essential for VAIOT’s solutions, and IBM is providing us with that,” says Christoph Surgowt, CEO of VAIOT. “The opportunities that come with AI on cloud and blockchain technologies allow companies from the insurance and InsurTech sectors to digitize and improve their current processes, and we are confident our solutions will jumpstart this transformation.”

“Advancements in AI, automation, and hybrid cloud are helping enterprises around the world achieve new levels of efficiency and customer satisfaction,” says, Paweł Raczyński, Global Technology Services Leader, IBM Poland, and Baltics. “IBM is working with VAIOT to bring together IBM Services’ industry expertise with IBM Watson’s cutting-edge natural language processing capabilities to deliver new solutions that provide a seamless customer experience.”


We are getting to see more and more applications that marry artificial intelligence with the blockchain.

Cambridge-based AI lab and enterprise blockchain solutions provider Datarella announced trials of M-ZONE, their smart city zoning infrastructure, on November 12.

The project will utilize multi-agent blockchain-based AI digitization services to unlock data and provide smart mobility solutions around commercial real estate in the city center.

The area is subject to traffic congestion, parking non-availability, and loss of time for all the concerned persons such as car owners, taxis, and parking management services.

Autonomous Economic Agents (AEAs) will work through an app. They will autonomously negotiate the ‘price’ of parking spaces between the holders of parking spots, and those looking for parking spaces.

Related Story:  Blockchain And AI Combine To Optimize Car Parking In Munich                                                  

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