Genasys Technologies are working closely with Hitachi Consulting on its Insurance in a Box solution. Genasys will be providing the core policy administration system that has been combined with Hitachi Consulting’s integration accelerator framework and advanced use of Artificial Intelligence (AI). This allows insurers, MGAs and brokers to service more customers faster, reduce costs and simplify regulatory compliance whilst engaging and learning more about their customers.
Hitachi Consulting’s Insurance in a Box Solution combines the leading best-of-breed applications commonly used by the insurance market and pre-integrates them with Genasys Technologies policy administration system. This is achieved thanks to Genasys’ uniquely open architecture and considered approach to integration. AI is employed heavily and is able to answer customer queries, guide customers through quotations and claims or make amendments to policies. Importantly it also enables a smooth transition to live customer representatives if the bot identifies negative customer behaviour or when the customer has more complex requirements.
In addition to facilitating customers more efficiently, the Insurance in a Box solution’s utilisation of AI can provide insurers with a plethora of additional benefits such as providing deeper customer insight and/or an increased ability to spot and flag potential fraud.
“Customers are increasingly used to having digital conversations, whether it’s through their own virtual assistant in the home like Alexa or using online chatrooms with their energy supplier,” says André Symes, Chief Operating Officer at Genasys. “The insurance industry is fast catching up but it isn’t necessarily that easy to roll out a quick, effective solution. Hitachi’s Insurance in a Box service changes that and we’re delighted to partner with them.”
The combination of Genasys’ policy administration platform and Hitachi Consulting’s innovative utilisation of technology underpinned by AI, allows insurers to accelerate digital transformation and serve customers better.
“We believe that with Genasys and this offering we have a unique solution that will change how people engage with their insurance provider and demonstrate that disruption is not confined to start-ups,” adds Stewart Reeder, Senior Business Development Manager – Insurance EMEA, Hitachi Consulting.