Technology

REPLY: COVU Transforms Customer Experience with Amazon Connect, Partnering with Storm Reply

Published

2 weeks ago

November 7, 2024

CHICAGO, Nov. 7, 2024 /PRNewswire/ — Storm Reply, an AWS Premier Consulting Partner and member of the Reply network, has successfully implemented Amazon Connect for COVU, a leader in AI-native services for insurance agencies. This integration empowers COVU to enhance its customer experience, scale operations with a growing number of AI solutions, and drive business growth with a robust and flexible contact center platform.

COVU’s contact center, the core of its operations, manages customer calls, text messages, web inquiries, and emails for numerous client agencies. As the company grew, COVU sought to replace its legacy system, which had limitations in visibility and call management. To further elevate its telephony capabilities, gain deeper insights into essential metrics like average wait times and abandonment rates, and build a foundation for rapidly developing new AI solutions, COVU partnered with Storm Reply to implement Amazon Connect, a cloud-based contact center system.

Storm Reply implemented several AI-driven features, including real-time call transcription, automated redaction of personally identifiable information (PII), and AI-powered call summaries. Additionally, sentiment analysis was integrated to help agents and supervisors proactively manage customer satisfaction.

Since implementing Amazon Connect, COVU has boosted efficiency and scalability, using AI-driven insights to handle more interactions without raising costs. Enhanced call routing and real-time insights have cut call abandonment rates by 20% and helped meet service level agreements, setting the stage for scalable growth. The integration of AWS telephony and SMS technology has further positioned COVU to quickly expand its AI capabilities, including the development of an AI voice agent that answers calls when human agents are busy, and creates tickets for operations staff, enhancing service efficiency. As a result, agent satisfaction has increased by over 250%.

Amin Zarshenas, Cofounder and Chief Product Officer at COVU shared, “With Amazon Connect’s ability to seamlessly integrate with other AI services, we are poised to quickly launch new AI applications, drive operational efficiencies to foster business growth, and ensure success for our clients. This shift allows my leadership team and me to move beyond operational challenges and focus on strategic initiatives that fuel our company’s growth.”

Don Mishory, Managing Partner at Storm Reply, added, “By implementing Amazon Connect, we’ve empowered COVU to achieve remarkable efficiency and scalability. With AI-driven insights and advanced call routing, COVU has enhanced customer interactions while keeping operational costs steady. The integration of AWS technology has also paved the way for innovative solutions like an AI voice agent, significantly improving service efficiency and agent experience.”

Learn more about how COVU enhanced its customer experience here.

Reply [EXM, STAR: REY] specializes in the design and implementation of solutions based on new communication channels and digital media. As a network of highly specialized companies, Reply defines and develops business models enabled by the new models of AI, big data, cloud computing, digital media and the internet of things. Reply delivers consulting, system integration and digital services to organizations across the telecom and media; industry and services; banking and insurance; and public sectors. www.reply.com

Storm Reply

Storm Reply is a global leader in cloud-based solutions and services, specializing in the design and implementation of innovative Cloud infrastructures. As an AWS Premier Consulting Partner, Storm Reply supports businesses in implementing cloud systems, including Infrastructure as a Service (IaaS), Software as a Service (SaaS), and Platform as a Service (PaaS). Storm Reply helps enterprises leverage the cloud to drive business transformation and growth.

COVU

COVU is a tech-enabled partner for independent insurance agencies, offering an AI-powered platform that combines advanced technology with licensed support staff, market access, and expert advice. COVU’s all-in-one solution helps insurance agencies focus on strategic growth, improve customer service, and future-proof their operations.

Press contact:

Reply
Fabio Zappelli
f.zappelli@reply.com
Tel. +390117711594

Anusha Shankar
a.shankar@reply.com
Tel. +1 3129980306

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SOURCE Reply

Technology

Max Stock Limited Announces Change in Shares Held by an Interested Party

Published

1 hour ago

November 24, 2024

CAESAREA, Israel, Nov. 24, 2024 /PRNewswire/ — Max Stock Limited (TASE: MAXO(; )the “Company”, “Max Stock“) today announced that on November 20th, 2024, Phoenix Financial Ltd. and Phoenix Investment House Ltd. (“Phoenix reporting group”), including their respective nostro account, provident funds and provident fund management companies, as well as mutual fund management companies and market maker sub entities, informed the Company that they had sold shares of the Company thereby lowering their joint holdings to 4.8% of the Company’s issued capital (4.15% and 0.65% respectively). As a result, Phoenix reporting group will no longer be an interested party in the Company.

This is an English translation of segments of a Hebrew immediate report that was published on November 24, 2024 (Ref. No: 2024-01-618032) (hereinafter: the “Hebrew Version”). This English version is only for convenience purposes. This is not an official translation and has no binding force. In the event of any discrepancy between the Hebrew Version and this translation, the Hebrew Version shall prevail.

About Max Stock

Max Stock is Israel’s leading extreme value retailer, currently present in 64 locations throughout Israel and 2 locations in Portugal. We offer a broad assortment of quality products for customers’ everyday needs at affordable prices, helping customers “Dream Big, Pay Small”. For more information, please visit https://ir.maxstock.co.il

Company Contacts:

Talia Sessler,
Chief Corporate Development and IR Officer
talia@maxstock.co.il

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SOURCE Max Stock Limited

Technology

Qatar Development Bank announces strategic investment in global Islamic FinTech, Wahed

Published

5 hours ago

November 24, 2024

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.

Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.

Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.

Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”

About Wahed

Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.

For more information, visit: www.wahed.com

About Qatar Development Bank

Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.

For more information, visit: https://www.qdb.qa/

SOURCE Wahed

Technology

Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region

Published

5 hours ago

November 24, 2024

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.

On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”

Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.

His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.

As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.

Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”

About Wahed

For more information, visit: www.wahed.com

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