Startup offers AI smarts to insurance firms

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MANILA -- A Southeast Asian startup with operations in the Philippines is offering machine learning and artificial intelligence to help insurance companies target customers better, its founder said Tuesday.

Saphron allows insurance providers to understand how clients use their products, which will enable them to adapt their strategy, including pricing, said Kiko Reyes, who also doubles as chief technology officer.

"What is missing is the accessibility by Filipinos, that is what we're trying to do, make it easy to learn about insurance, understand what they're getting, make the process streamlined from purchasing, to payments, to claims," Reyes told ANC's Early Edition.