Flamingo announces agreement with CUA Health

Published at Dec 21, 2017, in Technology

Flamingo AI Limited (ASX:FGO) informed the market this morning that it has signed a binding commercial term sheet with CUA Health Ltd, a subsidiary of Credit Union Australia, for a paid trial of FGO’s Cognitive Virtual Sales Assistant ROSIE.

During the three months spanning the live evaluation trial, CUA’s customers as well as CUA Health members will interact with ROSIE in a similar arrangement to FGO’s pre-existing live evaluation trials with Australian companies DirectMoney and AMP.

Flamingo’s CEO, Dr Catriona Wallace, commented on today’s announcement.

“We are extremely pleased to be working with CUA Health on the deployment of a Virtual Assistant to support their customers purchasing Health Insurance.

“We believe that AI and Machine Learning technology such as Flamingo provides will be very relevant to the health insurance sector,” she said.

National Sales & Marketing Manager at CUA Health, Richard Martin said, “This is an exciting collaboration opportunity that has arisen from our sponsorship of the Stone & Chalk fintech hub.

“We’re keen to test what opportunities there are for this technology to supplement our personalised interactions with members, potentially managing many of the most common health insurance inquiries coming in through our digital sales channels.”

It should be noted that it is early stages in this partnership and investors should seek professional financial advice for further information if considering this stock for their portfolio.

Earlier this week, the company released an update regarding live evaluation trials of ROSIE currently underway with three of FGO’s clients in the US and Australia.

It also reported that feedback from client companies has so far has been highly positive, and the company is in discussions with several clients relating to a shift from live evaluation to Monthly Recurring Revenue arrangements.

FGO continues to build its strong sales pipeline across all three regions. It continues its supportive partnership with the US-based Clarion Group, which has historically been an excellent source of sale and contract leads for FGO.

Wallace conducted several sales meetings with Clarion representatives during a trip to the US this month, with the company also announcing it would be expanding its sales teams in both the US and Asia Pacific.

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