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Led by Artificial Intelligence and Machine Learning, the bots aim to facilitate advanced customer access to insurance solutions
Mumbai, 13th July 2018 – Future Generali India Life Insurance Pvt. Ltd., today announced the launch of two digital initiatives- chatbot REVA (Robotic Enabled Virtual Assistant) and a unique ‘WhatsApp for Service’ initiative – a first in the life insurance space. While using artificial intelligence and natural language processing, both these digital platforms will provide policyholders solutions to their policy related queries on real time basis.
The ‘WhatsApp for Service’ is an initiative designed to empower customers to access their policies and provide them a host of services over WhatsApp ranging from policy sharing, Aadhar/PAN document verification to policy renewal, premium alerts, document collection and receiving important updates. The same will soon accommodate customer requests for unit statement, claims, premium paid certificate, renewal payments etc. Every time a new customer is onboarded, a soft copy of the policy shall be issued to the customer on WhatsApp. The 24x7 on-the-go service will aim to expedite service delivery and improve customer experience significantly by making it convenient and simple for customers to access our services. We have already delivered over 5,000 policies in two weeks of service being released to our customers.
REVA (Robotics Enabled Virtual Assistant), with the help of natural language conversion feature, will function like an insurance guide to assist customers through their policy buying and policy enquiry process, providing solutions to queries in real time. Customers will be able to seek responses through the bot’s ‘conversation’ or ‘menu’ options thereby navigating with utmost ease for policy documents, policy status, premium due date, premium due amount, fund value, nearest branch details, etc. at a click. Furthermore, REVA will also cater to diverse customer service requests like request for soft copy of policy document, unit statement, premium paid certificate and renewal payments. REVA shall be launched for customers in August and will be available on the company’s website, customer portal, mobile app, social media page in addition to Amazon Echo.
Commenting on the occasion, MD & CEO, Future Generali India Life Insurance Pvt. Ltd., Mr. Munish Sharda said “The Indian insurance sector is growing rapidly as innovation in the arenas of digital, technology, machine learning and AI, are advancing by leaps and bounds. To ensure that we stay ahead on trends and to deliver a unique and differentiated experience to our customers, we at Future Generali India Life Insurance, believe it is important to build relevant platforms that help provide improved access to policyholders with regards to their insurance policies. While REVA will be aiding quick and effective guidance to customers without any human intervention, our ‘WhatsApp for Service’ initiative will help reach out to policyholders with information at a time that is convenient to them and on a medium that is deemed the most omnipresent. With these offerings, we continue to leverage technology and build on our credo of providing simpler, smarter, faster insurance solutions to our customers.”
Generali is an independent, Italian Group, with a strong international presence. Established in 1831, it is among the world’s leading insurers and it is present in over 60 countries with total premium income exceeding €68 billion in 2017. With over 71,000 employees in the world and 57 million customers, the Group has a leading position in Western Europe and an increasingly significant presence in the markets of Central and Eastern Europe and in Asia. In 2017, Generali Group was included among the most sustainable companies in the world by the Corporate Knights ranking.
Future Group operates some of India’s most popular retail chains including Central, Big Bazaar, Food Bazaar, Home Town and eZone. Apart from its allied businesses in Life and General insurance, the Group is also present in the domain of logistics infrastructure and supply chain and brand development. The group operates over 17 million square feet of retail space in over 90 cities and towns and 60 rural locations across India. The group’s retail formats connect over 300 million customers to over 30,000 small, medium and large enterprises that supply products and services to its retail chains. Future Group believes in developing strong insights on Indian consumers and building businesses based on Indian ideas, as espoused in the group’s core value of ‘Indianness.’ The group’s corporate credo is, ‘Rewrite rules, Retain values’.
IITL was incorporated in the year 1933 as an investment trust Company. It has made bonus issues thrice and has been consistently paying dividend to shareholders over the years.