LEO’s advanced knowledge base will help deliver accurate and conversational responses to all service inquiries, making information easily accessible
FinTech BizNews Service
Mumbai, August 29, 2024: In a pioneering move, Future Generali India Insurance Co. Ltd. (FGII) is launching its unique GenAI enabled Chatbot ‘LEO’ on WhatsApp to revolutionise customer experience. Built with advanced automation, artificial intelligence, and natural language processing (NLP), the LEO chatbot will offer personalised and real-time assistance throughout the entire policy cycle, providing an engaging and superior experience to customers.
The country's AI market is currently registering a compound annual growth rate (CAGR) of 25-35% and is projected to reach approximately USD 17 billion by 2027, according to a report by BCG and Nasscom. Through this initiative, FGII aims to combine the best of both worlds by harnessing the power of generative AI and the widespread accessibility of WhatsApp, setting a new benchmark for digital interactions within the insurance industry.
Commenting on the launch of the initiative, Ms. Ruchika Malhan Varma, Chief Marketing, Customer and Impact Officer, Future Generali India Insurance Co. Ltd. said, “As lifetime partners to our stakeholders, we have undertaken several initiatives to enhance our customers’ experience with the brand. We are excited to introduce LEO, our GenAI-powered WhatsApp chatbot, which represents a significant leap forward in our digital transformation journey. LEO not only simplifies access to our services but also enriches customer experience with its intelligent, responsive, and friendly human-like interactions. This launch underscores our commitment to leveraging cutting-edge technology to meet the evolving needs of our customers.”
Ravi Garg, Director, Business Messaging at Meta in India, said, “WhatsApp is at the center of people's digital lives in India, and India is also one of the countries where we are seeing powerful use cases emerge of how WhatsApp can transform everyday life. We believe that AI will play a key role in enhancing the customer experience by helping businesses provide people with the help and information they are looking for. We are excited to see Future Generali integrate GenAI into their chatbot to offer people a more personalized experience.”
With LEO, customers can easily access and download their insurance policy documents directly through WhatsApp. The policy renewal process is simplified, enabling customers to renew their insurance policies effortlessly. Its real-time updates on the status of claims provide transparency and peace of mind, while features like immediate issuance of health cards facilitate quick access to healthcare services. Users can also easily locate nearest garages, hospitals, and branches. Furthermore, it streamlines the user experience by automatically fetching customer information using their mobile numbers.
LEO integrates seamlessly with WhatsApp's payment flow, supporting transactions via credit/debit cards, net banking, wallets, and UPI. This ensures a smooth and secure payment process for all users, enhancing the overall convenience of managing insurance needs.
