USGIC Launches India’s 1st AI-powered Conversational Agent for Motor Insurance

Mumbai: The Covid-19 pandemic has caused ambiguity and disruption in customer services across the world and has changed the life of people in unthinkable ways. In these unforeseen circumstances, Universal Sompo General Insurance, as a customer-first organisation has launched Artificial Intelligence (AI) powered virtual agents for its motor claims services.

Universal Sompo’s AI-powered virtual agents will use conversational AI to automate the routine conversations traditionally handled by live agents. The First Notice of Loss (FNOL), which is the first step in claims processing, is usually a call center-based service which requires extensive questions and data gathering. Customers who have had a motor accident and are wanting to register a quick claim are usually under stress and look for convenient ways to report the claim without having to wait in call queues. 

Offloading routine calls from customer service representatives to AI-powered virtual agents will create a far superior customer experience. The entire turnaround time (TAT) in the claim registration process is impacted significantly thereby reducing the wait time for filing a claim, checks on claims status, review of policy information, and much more – all the things live agents would typically manage. With this first-of-its-kind solution in the insurance sector in India, this entire process at Universal Sompo will shrink to a few minutes.

“Claims notification is a critical customer touchpoint in insurance. In Post-Covid era our biggest challenge is how we should Never Miss a Customer Call. AI automation will help streamline experience for both our customers and backend operations and we are placing big bets on it,” said Sharad Mathur, Managing Director & CEO, Universal Sompo General Insurance Company Ltd.

As a customer-first and responsible organization, Universal Sompo has been consistently scaling up its technology and infrastructure to align itself not only with regulatory changes but also to provide best services to its customers. Hence, to remain future ready and always ahead of the curve, it has recently deployed various initiatives like Mobile Application (M-POS) for POS channel, Payment Integration with digital wallets, System for Crop Insurance and Customer self-service portal etc.

Soon, Universal Sompo will be co-creating many AI and digital solutions which will help offset productivity losses and successfully face challenges of new operating environments. It is keen on recognizing tech trends, evaluate business opportunities, and actively incorporate relevant processes and programs into the business model, for outpacing and outperforming market competition. At the same time, the company will try to deliver simpler, innovative and customer need-based products.

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