AI consultancy Koïos Intelligence developing new insurtech product

29 October 2018 Consulting.ca

Montreal-based technology and consulting firm Koïos will reveal a new solution that it hopes will become the AirBnB of the insurance market. The firm will unveil its Olivo insurance tech product – currently in development – at Montreal’s Fintech Forum, which kicks off today.

Founded in 2017, Montreal-based Koïos Intelligence is a tech consulting firm looking to meet the desire for competitive-edge enhancing emerging technology solutions in the financial services industry. The company is focused on developing custom systems built on artificial intelligence – from automated client servicing and data anomaly identification to pricing and risk calculation improvements.

The tech company is led by founder and CEO Mohamed Hanini, a mathematics and operational research expert, while the firm’s consulting division is led by David Stréliski, previously CRO and global head of technology at Fiera Capital.

"When I began, I was inspired and fascinated with machine learning and research into deep neural networks, even when there were no tangible results," Hanini explained. "The new challenge is now to accelerate the training of intelligent systems in the financial ecosystem, especially when those systems are exposed to massive amounts of data."AI consultancy Koïos Intelligence developing new insurtech productKoïos employs a team of professionals in risk management, operations, and cybersecurity, and partners with experts from the Data Valorisation Institute (IVADO) and the Montreal Institute of Learning Algorithms (MILA), among others. The fast-growing firm has developed numerous projects with financial institutions around the world, and is currently working on the AI aspect of Bizerte, Tunisia’s smart city project.

Now, Koïos has announced that it is developing a new insurance application entitled ‘Olivo.’ The solution will centralize and digitize the entire insurance lifecycle, giving consumers, brokers, and insurers a single tool for the insurance process – from quotes to claims. Koïos hopes to bring the revolutionary product to market in 2019.

The Olivo project will be formally revealed at the upcoming Fintech Forum taking place in Montreal from October 29-31 at the Palais des congrès.

"Over the last 22 years, I've instinctually known that the road to success in this business was not limited to measuring risks, but I was often missing the necessary calculating power and the technological tools to back it up," commented Stréliski. "Today, thanks to the immense scientific expertise we've gathered and the tools that we're developing, we can finally make our vision come true."

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French tech consultancy Axionable opens AI research lab in Montreal

11 April 2019 Consulting.ca

Paris-based Axionable, a consulting firm specializing in enterprise data and artificial intelligence strategy, has announced the opening of a research lab in Montréal. The lab will hire 50 new employees over the next two years.

"Opening a facility in Montréal was a natural choice for us," Gwendal Bihan, Axionable CEO, said at the World Summit AI conference in the Quebec metropolis. "The city is now one of the top global centres of artificial intelligence (AI) research. We are eager to work alongside the world's most renowned researchers and to be part of a booming ecosystem that includes industry leaders as well as promising start-ups."

Axionable was founded in 2016, and has approximately 50 employees across offices in Paris and Lille. The firm provides high-demand consulting services in data analysis and AI, with expertise in image and video analysis, natural language processing, and prediction. Axionable also delivers a full range of support services, from needs identification to performance-improving AI solutions. The firm supports clients across financial services, media, distribution, and industrials, and has worked with notable organizations such as Michelin and Crédit Agricole.

French tech consultancy Axionable opens AI research lab in Montreal

"We are undertaking this international expansion phase not long after the company was founded, and it would not have been possible without the support of organizations like Montréal International, Investissement Québec, and Business France,” Bihan said.

Montréal is a burgeoning hub for AI, with firms such as McKinsey’s advanced analytics company QuantumBlack recently moving into the city. Montreal’s world-class AI research is centred around McGill University and l’Université de Montréal, as well as the Montréal Institute for Learning Algorithms which was cofounded by the two educational institutions.

"Quite a number of foreign companies are investing in the area,” Hubert Bolduc, president and CEO of Montréal International, the city’s economic development agency, said. “The team has supported over 30 AI projects in the past two years, totalling $500 million. Montréal stands out not only due to its concentration of deep learning researchers, but also by how much consideration it gives to the social and ethical impacts of AI."

Axionable has already started the recruitment process for its Canadian AI lab, searching for experts in automatic learning, deep learning, information technology, and communication. The lab will work on defining and implementing AI and data strategies for clients in North America and Europe.

"This new lab will provide further stimulus for the technological revolution taking place in Québec and create a great many highly specialized jobs,” Pierre Gabriel Côté, Investissement Québec president and CEO, said. “We are proud to have played a role in showcasing the advantages of choosing Montréal for this key player in the AI industry and to have provided help and guidance with investing here."