If InsurTech is ever going to be remembered for one thing, it is the shift of focus to the customer. Putting the customer full square and centre at the heart of the technology enabled insurer is how InsurTech will be defined. A key enabling capability in this transformation is Artificial Intelligence, aka AI.
This is a wide ranging subject that covers many dimensions, and for this month’s InsurTech Insights, Rick Huckstep looks at it from a customer engagement and convenience perspective.
Go to China if you want a sense for the art of the possible when it comes to Artificial Intelligence, or AI. Look at WeChat and how it is integrated into people’s daily lives and bustling ecosystem of ecommerce players. Then take a look at ZhongAn. This is an online only, tech company that really knows how to sell insurance to Millennials!
They’ve only been around for 3 years or so and yet have managed to sell over 5 billion policies. Impressive traction for an InsurTech with only 1,500 employees, no sales people and over half its workforce are engineers and developers.
AI will dominate mobile customer engagement
To get a better understanding of the AI customer engagement landscape, I turned to an InsurTech startup who are building customer-centric automated experiences using an in-house hybrid bot.
To continue reading visit www.the-digital-insurer.com.