MALVERN, Pa., —The Institutes RiskStream Collaborative® announced today a strategic partnership with Pypestream, one of the leading providers of enterprise-grade AI agents that reimagine how organizations connect with their customers, to bring StreamAI to members of the consortium. StreamAI uses AI agents to automate high-impact, customer-facing workflows, such as claims and policy servicing, while laying the groundwork for secure, multiparty AI interoperability across the insurance value chain.
Enhancing Insurance Operations With StreamAI
StreamAI, built and delivered by Pypestream, leverages conversational AI microagents designed to transform insurance operations throughout claims and policy servicing, accelerating resolution times, improving the customer experience, and enhancing operational efficiency. These AI-enabled agents deliver personalized interactions, automate workflows and integrate seamlessly, driving measurable ROI and enabling insurers to scale rapidly.
Early adopters at some of the country’s largest carriers have reported:
- 30% faster claims resolutions
- 50% reductions in First Notice of Loss (FNOL) processing times
- Up to 40% fewer fraudulent claims
Hosted on Pypestream’s secure, enterprise-ready platform, StreamAI is engineered to meet stringent compliance standards, providing organizations with the tools to proactively monitor and mitigate AI-related risks. Beyond enabling seamless self-service, StreamAI enhances customer satisfaction through a user-friendly interface that simplifies interactions. The platform also includes robust analytics capabilities, offering actionable insights that allow businesses to continuously optimize engagement strategies and foster long-term customer loyalty.
“StreamAI represents a significant leap forward in providing the insurance industry with scalable and secure AI solutions to transform their customer service operations and achieve new levels of efficiency,” said Richard Smullen, Founder and CEO of Pypestream.
Laying the Groundwork for Future AI Collaboration
The Institutes RiskStream Collaborative® focuses on multiparty business-process improvement and sees a solution standard like StreamAI as an important step toward a future in which AI agents can securely and seamlessly exchange information across carriers. This future vision, in which AI agents “speak” with one another across insurance organizations, aims to improve efficiency, reduce errors and create more-consistent customer experiences across the insurance ecosystem.
Building on lessons learned from RiskStream’s other multiparty-focused solutions, this initiative could help set the foundation for multiparty AI-agent interoperability standards within the insurance industry.
“One of the most significant issues facing the insurance industry today is the lack of interoperability across carriers’ AI systems, which results in siloed processes, slower resolutions and frustrated policyholders,” said Patrick Schmid, president of RiskStream. “Our goal at RiskStream has always been to convene forward-thinking organizations to solve these types of challenges. By collaborating with Pypestream, we are taking a major step toward improved interoperability across the industry.
Schmid added, “Riskstream serves as the trusted, not-for-profit industry hub that best empowers insurance businesses to explore, operate and collaborate. StreamAI supports RiskStream’s mission to create an ecosystem that leverages emerging technology to streamline the flow and verification of data in multiparty processes, ultimately lowering operating costs, driving efficiency and enhancing the customer experience.”
For more information, please visit streamai.pypestream.com.
About The Institutes RiskStream Collaborative
The Institutes RiskStream Collaborative® aims to create an ecosystem within the risk management and insurance industry that leverages emerging technology platforms to design/build (or leverage existing) solutions that aim to streamline the flow and verification of data in multiparty business processes. RiskStream’s goals as a blockchain and emerging technology consortium are to help industry participants lower operating costs, drive efficiency from improved processes, and enhance the customer experience.
About The Institutes
The Institutes® are a global not-for-profit comprising diverse affiliates that educate, elevate and connect people in the essential disciplines of risk management and insurance. Through products and services offered by The Institutes’ nearly 20 affiliated business units, people and organizations are empowered to help those in need with a focus on understanding, predicting and preventing losses to create a more resilient world.
About Pypestream
Pypestream is reimagining how enterprises connect with their customers in the era of applied AI. Its AI agents help organizations unlock measurable business value such as cost savings, revenue growth, operational efficiency and customer loyalty. With more than seven years of patented innovation and hundreds of pre-built microagents, Pypestream’s experts quickly deploy bespoke systems of agents that improve interactions across chat, voice and other multimodal channels. Its secure, cloud-native platform integrates seamlessly with any model or API, meaning it is enterprise-ready to deliver AI that’s compliant, ethical and reliable. Leading insurance companies rely on Pypestream to delight their customers while delivering business outcomes. Learn more at www.pypestream.com.
