Page 26 - The Insurance Times September 2024

and blame the agent for scissoring the claim. In this effort, "happy man." In that process, they contacted the richest
public sector insurance companies try to create awareness man and failed.
among the public about various aspects of insurance and
encourage them with the concept that "CUSTOMER IS THE Finally, they went to a jolly Miller who was playing his flute
KING," but this king never felt happy with any amount of while dancing. Thinking he must be a happy man, they asked
loss after the settlement of the claim, as the famous child- for his shirt, which was torn and dirty, but he ran away along
hood story goes. That a king was never happy as he always the shore, saying that if he gave this shirt, he would have
complained of sickness and uneasiness. no other shirt. Feeling dismayed, the chieftain returned to
the king and said that nobody is happy in the empire. At
The doctors of the time came and cured him, but to no this stage, the king realized that nobody is happy in the
satisfaction, and the king remained uneasy. But an old man world, having one problem or the other, or having compla-
came forward as an experienced doctor and challenged the cency in the present situation.
cure for the disease of the king. In that, he suggested that
the king should sleep in the shirt of a happy man for one Thus, the party taking insurance should also feel satisfied
night, and he would certainly be cured. The king ordered with whatever claim amount they receive in return for the
his men to go all over the country and bring the shirt of a paltry amount of premium they pay.

Future Generali India Insurance set to revolutionise customer ex-
perience by offering ‘LEO’, a GenAI enabled WhatsApp Chatbot

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 accessi-
bility 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 Of-
ficer, 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 bank-
ing, wallets, and UPI. This ensures a smooth and secure payment process for all users, enhancing the overall conve-
nience of managing insurance needs.

24 September 2024 The Insurance Times