Bank insurance department
Insurer's first cognitive intelligence digital assistant
The development of a Cognitive Digital Assistant (approximately 22,000 questions answered a day)

Insurance Company Brings Artificial and Cognitive Intelligence to Customer Service

Creation of Digital Assistant Inaugurates the Era of Cognitive Artificial Intelligence in the areas of Banking and Insurance.

Cognitive Computing has transformed the market. Technologies capable of learning user preferences to provide better offers are redefining communication with customers. MJV was asked to support the design and implementation of agile guidelines in developing an insurer’s first cognitive intelligence digital assistant.

Intelligence from the inside out

The idea of ​​working with cognitive artificial intelligence arose in the digital solutions of a bank’s insurance department. Initially, the solution was used within the branches’ intranet and helped more than 65,000 managers to clarify doubts about products and services more assertively.

The successful implementation showed stakeholders a unique opportunity in the market: creating a service like this for the public. This would mean becoming a market leader in technology, development, and customer experience.

MJV began managing agile teams in charge of developing the AI platform, participating in the definition of strategy and scope of deliveries. Our UX team also mapped out the new user journey, supervising the quality control of customers’ interaction with the technology.

Machine learning: from chatbot to digital assistant

To deliver an unprecedented customer experience, it was necessary to build something different from all the chatbots available on the market. These were generally based on guided interactions but without cognitive characteristics.

Our agile team worked daily to grow the bot’s knowledge base through content curation and assisted training. This machine learning process was instrumental in improving the machine’s learning curve.

The assistant truly gets smarter every day by identifying interaction patterns, learning from them, and responding correctly to stimuli

Hi, I’m the future

The first step in validating market responsiveness was to make the solution available for customers to use. A prototype was launched in the bank’s app with only social security content.

As soon as a conversation started, the AI (embedded with human characteristics) presents itself by name. The reception by the public was satisfactory, and soon there was a demand for its expansion. The new contemplated platforms were Messenger, for the insurance company, and Whatsapp.

The dynamics of interactions on Whatsapp happen through commands using hashtags. In the app, you can ask the assistant for information such as your balance and credit limits and the location of nearby branches.

Currently, the digital assistant answers approximately 22,000 questions a day.

Marking progress with voice activation

The arrival of Google Assistant was incredibly impactful and represented a paradigm shift in the banking and insurance sectors: it was the first sector with a voice-activated assistant.

MJV’s UX professionals constantly worked on improvements throughout the process, promoting usability tests to ensure an unparalleled experience for the customer.

In addition to informative content, a new voice command base was created that answered the most recurrent questions in the insurance market.

We also developed an auto insurance assistant through this progress, which covered issues related to collisions, breakdowns, tires, and keys. The solution is widely used by policyholders and provides agility for service via artificial intelligence.

Active voice in innovation

Cognitive artificial intelligence placed this institution at the forefront of the banking and insurance sectors, opening up a range of possibilities. It will soon be possible to explore unique customer relationship data in a field not yet tapped by competitors.

The solution has the potential to revolutionize how the banking sector views customer relations. The institution’s next steps are to increase its knowledge bases and gradually expand cognitive intelligence to other channels.

In addition to the solution’s practical benefits, the experience promoted by the assistant at different points of contact adds even more innovation potential to the brand’s catalog. The future of customer relations now has a name and a voice.

The AI ​​market is expected to reach $191 billion by 2025. Finance, Insurance, and IT account for 59% of the global demand for this kind of solution.

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