XILO

We are thrilled to announce that XILO has achieved SOC 2 Type II compliance, meeting the standards set by the American Institute of Certified Public Accountants (AICPA) for SOC for Service Organizations, also known as SSAE 18. This milestone underscores XILO's commitment to data security and compliance with leading industry standards. Jon Corrin, co-founder and CEO of XILO, stated, "Achieving SOC 2 Type II compliance demonstrates our commitment. The significant time and financial resources we've invested show our dedication to securing our customers' data. It's vital for us as InsurTechs to lead by example in protecting the industry's data integrity and security." We extend our thanks to our partners, Vanta and Prescient Security, who played crucial roles in helping us reach this certification. Read more about our journey to compliance in our latest blog post: https://bit.ly/44zoiXH #SOC2 #DataSecurity #Compliance

We've been working in the background with some of the open source large language models (LLM / AI) and now investigating small language models to see what can drive the outcomes we're looking for in specific product features while also maintaining the security of our client's data. It's fun working with state of the art technology, exploring what is and can be possible for insurance agents. Most agencies simply have no time and expertise to pave this path. Which opens up the door for certain risks, like an employee pasting / uploading / describing and soon video demoing (hopefully when GPT 4.5 becomes fully multi-modal) client data into ChatGPT. Something that's most likely done every day given the high usage of OpenAIs chatbot. Since we started our Soc 2 journey at XILO (proud to say we'll be Type I certified next week and Type II in Q1), I've come to realize the personal responsibility we have as an organization and individuals to securely manage the data that is given to us. That's what inspired me to write this article, about the risks of entering client data into ChatGPT! I'm guessing this is going to be obvious for some of you, in which case, still read it. It'd make me happy. But my real hope is someone out there who's been routinely doing this will stop, now understanding the risk they take with their client's data by sharing it with ChatGPT. We're living in very exciting times with new tech and innovation. But it comes with greater responsibility that we all must educate ourselves on. https://lnkd.in/g9kBix38

A few months ago, our team started working on a feature to streamline the agent workflow of extracting data from an insurance declaration page (dec page) and integrating it into the various system agents use. This feature captured the attention of our customer base, who are already working with these documents as it gave them hope that life could be easier and deal flow could move faster. We partnered with a third-party, Sensible, to solve this problem but a lot of my customers are now asking me if this is something AI can solve on its own. I've played around with AI's capability to automatically extract data from PDFs quite a bit to no avail just yet. But the future is promising. In this article, I write exactly about this topic, how AI can extract data from dec pages, Acord Forms, and Supplemental Applications. #insuranceagents #AIForInsuranceAgents #ai #insurance https://lnkd.in/gWMQxsqM

A few weeks back, I had a conversation with one of my customers on a common but challenging scenario he was facing. He had a client claiming to have requested a downgrade in workers' comp coverage and was now seeking reimbursement for the overpaid premiums. This situation meant he had to juggle between sifting through heaps of transcripts and documents to verify this claim, servicing his existing customers, and managing his day-to-day business operations. Instances like these, involving E&O claims, may not be a daily occurrence, but when they arise, they can turn into an absolute nightmare. It's exactly why I penned my latest blog, focusing on how insurance agents can utilize AI to efficiently sift through files, resolving E&O claims in seconds rather than weeks... I built a little widget so you can test out AI's ability to perform a task like this. Please do not go and upload client files into ChatGPT ... A feature like this needs to be built in a highly secure environment that protects and segments your client's data. This blog comes right as Amazon released Q (article in the comments), their own GPT that will hopefully make it easier to store and interact with large datasets through other AWS services. Check out my latest blog, let me know your thoughts! https://lnkd.in/gzHCVAga #insurance #insuranceagents #AIForInsuranceAgents #ocr #amazonQ

“Carbon paper. That’s what we used to quote when I first started my agency.” “We sent them in the mail. Then they tried to get us to start sending them on fax machines and I thought there’s no way this is going to work!” Just had a great talk with my co-founder's dad, a retired insurance agency owner, about the tech evolution in our industry. Our chat at the last ITC in Vegas took him down memory lane and inspired my latest article: "Insurance Agents: Pioneers in the AI Revolution." In it, I explore how AI is not the end of the road for insurance agents but a new beginning. It's about leveraging AI to amplify our skills, not replace them. I believe it's a tool that can transform how insurance agents work, making them more efficient and impactful. What are your thoughts? Is AI a real game-changer in our industry or just another Fax machine? Take a read and let's discuss the future of AI in insurance. Here's the link: https://lnkd.in/gBWZX-4B #AIForInsuranceAgents #AIinInsurance #InsurTech #InsuranceAgents #DigitalTransformation