Modernizing Insurance Communication
Today, no one answers the phone anymore. We created a solution to this—an AI-enabled text-messaging platform that allows the entire insurance ecosystem to communicate with the end insured in a modern way. We’re very much a communication platform enabling human-to-human interactions.
Take an auto claim, for example. You could be talking to an injury adjuster, a physical damage adjuster, a body shop, a rental car company, and today that could be upwards of seven different people, multiple companies, all through one-off conversations. We’re pulling down silos by allowing that to be one transparent conversation across all parties.
From a customer’s perspective, it’s one streamlined conversation. The customer gets one text group chat, and each party is kept apprised of what’s going on with the process. And they’re avoiding redundant efforts as well.
To give you an example, we had an awesome survey result come in where a policyholder had a claim and they were extremely delighted with the insurance carrier’s service. They said, “I told all my friends and family about that, and they all want to switch to you.” Imagine how you could leverage that knowledge.
One of our carriers deployed our platform just ahead of Hurricane Florence. Minutes after the storm passed, its policyholders were communicating with their carrier in real time. They ultimately reduced time to contact and time to inspect those homes post cat by 50%. We believe we’re just scratching the surface. There is tremendous potential to lift the opportunity from there.
From a functionality perspective, while we started in conversations, we’re starting to move to facilitate transactions—think of things like payments and other transactions, and then eventually leveraging all that conversational and transactional data to help carriers deliver better service, underwrite risk better and ultimately deliver a better customer experience.