Nivo offers off the shelf AI assistant for brokers

Nivo has launched Nivo Collect, a new service designed to offer brokers a quick and easy way to implement AI in their business, by offering firms their own branded AI assistant to handle document collection.

Rather than having to build their own AI workflows, the Nivo Collect service is described as an “AI teammate” for brokers, that collects, checks and chases the documentation required to support an application.

Brokers simply email in with what they know about their client, and the assistant does the work to bring back a complete checked case pack, with all the searches, documents, evidence, analysis needed for a full picture of the applicant in a sharp summary report. Any unresoloved issues are laid out so the broker can take further action if required.

Pricing starts from £1,000 per month. Nivo says there is no set up fee, no minimum term, no commitment, no separate licence costs, and that all ID, open banking, document collection, analysis, checking, chasing, and compiling is included.

The Ai assistant will work out what’s required and request it from every applicant; cross-check every claim as evidence arrives; spot missing or inconsistent items and chase until they are resolved; and hand back a checked evidence pack and case report, ready to submit. Nivo says there is nothing for brokers to install, no new system for advisers to learn, and the assistant runs over existing email processes, meaning firms can be live in hours.

Automating processes in this way reduces the administration burden, giving brokers and advisers more time to spend supporting clients and progressing business rather than chasing paperwork – Nivo estimates suggest a broker can spend five hours on average gathering and checking information per case, leading to an estimated administration cost of around £150.

Matthew Elliott, co-founder and chief commercial officer at Nivo, said: “Every broker is talking about AI, but most don’t want to become AI developers.

“They don’t want to build workflows, write prompts or stitch together different tools. They simply want AI to solve real operational problems.

“That’s exactly why we built Nivo Collect. We’ve taken one of the biggest administrative burdens in broking and turned it into an off-the-shelf service that firms can switch on in hours.”