News : Cove Sells NZs First Insurance Policy via Chatbot
Auckland, New Zealand, June 26, 2018 -- Auckland-based Cove Insurance has sold what is believed to be New Zealand's first insurance policy by a chatbot.
Currently in private beta, Cove CEO Andy Coon insured his 2001 Audi S3 through the Facebook Messenger based chatbot.
"We timed it at slightly over three minutes to get insured, which is an immense improvement compared to what New Zealanders are used to" explained Andy.
"However our goal is to continue using technology to make this process simpler and faster. I believe we can take steps to further streamline this process"
Sponsor message - content continues below this message
Employee Engagement Awards NOW OPEN!
Enter your center,and compete for this prestigious award to attract new staff and show investors and customers you are #1 in your nation!!
Content continues ….
Striving to make insurance simpler to understand, with a digital-first approach, Cove will initially offer a chatbot experience within Facebook Messenger. Within this interface the customer will be asked series of questions, before being presented with an insurance quote which is available for immediate purchase, with coverage beginning instantly.
"Offering a service like this through a chatbot isn’t yet common in New Zealand, but has proved successful in other markets" explains Chief Product Officer Rob Coon.
"In saying that, our Facebook Messenger chatbot is simply the first distribution channel for Cove. We will soon be offering other channels, including a simplified web experience".
Dr Ming Cheuk, University of Auckland Bioengineering graduate, has been working with the Cove team for a year now, and will soon begin to develop intelligent claims approval technology, which will mix AI with behavioural sciences to automate much of the claims process.
"When we were researching what New Zealand consumers wanted in their ideal insurance experience, we found that most consumers had both their best and worst experiences with their insurer during the claims process" explained Rob.
"Therefore we are now focused on making the Cove claims experience as seamless as possible, and we will be developing this further in the coming months with the plan of making the technology available for Cove customers later in the year".
Cove is also leveraging a number of cloud providers such as Amazon Web Services (AWS) to ensure the company remains agile, and can focus more on development of innovative technology while benefiting from rapid deployment.
"Developing much of our capability with cloud based vendors allows Cove to manage significant infrastructure with a very small team" explains CTO Peter Reid.
"Infrastructure in code, serverless architecture along with the usage based pricing is ideal for a technology startup. The use of external consultants ensures adherence to best practice and supports our ‘right first time’ philosophy".
Cove is currently in private beta, and will be launching to the general public in the coming months.
Posted by Veronica Silva Cusi, news correspondent
Source: Contact Centre Institute of NZ
Today's Tip of the Day - Do Your Wall Boards Really Help?
More Editorial From Contact Centre institute of New Zealand
About Contact Centre institute of New Zealand:
The Contact Centre Institute of New Zealand (CCiNZ) was established to fill the need for a transparent and coordinated national body to support, educate and engage professionals in the New Zealand Contact Centre Industry.
Published: Wednesday, June 27, 2018
Verint Systems is a provider of analytic software-based solutions for the security and business intelligence markets. Verint solutions transform voice, video, and text into actionable intelligence - m...
Eckoh is a global provider of Secure Payment and Customer Engagement solutions via our Eckoh Experience Portal as well as Third Party Support. We’ve an international client base and offices in the UK ...
eGain customer engagement solutions power digital transformation for leading brands. Our top-rated cloud applications for social, mobile, web, and contact centers help clients deliver connected custom...
|Amazon Web Services|
Amazon Web Services is a collection of remote computing services that together make up a cloud computing platform, offered over the Internet by Amazon.com. The most central and well-known of these ser...