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Introducing the future of insurance: Mobile, Chatbots and AI







The African continent and the mobile platform are a match made in heaven – both are escalating growth areas, ripe with potential.

Digital adoption is slowly growing throughout Africa and this presents insurers with exciting new opportunities for business development.

Smart phones not only offer Africans new facilities through voice services but also uses emerging technologies that bring internet access to phones, thereby bypassing the need for a computer.

The adoption of mobile wallet solutions like mPesa is the reason for so much excitement, on the other hand though, businesses still struggle to maintain the most basic of services such as the collecting of monthly insurance premiums.

Mobile technology such as USSD codes and text messages contribute to the simplification of the user interface and are device and network agnostic.

Consumers are familiar with basic mobile technology and with the rise of the mobile trend in Africa, it is now making the use of apps possible, not only to create new avenues of customer interaction and engagement, but also to track customer fitness, health and even wealth status.

Applications are opening a world of possibilities for insurers everywhere.

Although a big task for Africa is to connect the unconnected and unleash the economic potential of increased connectivity, such challenges could involve the problems of moving text-based interactions to chatbot technology.


Chatbot business

With the ever-increasing sales and use of smartphones, a chatbot revolution in Africa is closer than you think!

Businesses are slowly introducing chatbots to automate services such as general inquiries using Artificial Intelligence (AI) in Africa.

This is in order to modernise their businesses and meet their customers by means of their preferred communication method which is mobile chat.

A chatbot simulates human conversation using Artificial Intelligence (AI), it ensures that an interactive conversation can be held in real-time, 24/7 to customers at scale through mobile messaging.

This leads to a smaller volume of inquiries requiring live assistance from agents and reduces operational costs while maintaining - or in most cases, improving customer satisfaction ratings.

Chatbots ensure a consistent message and customer service within an organisation, creating a consistent customer experience and being just a text message away.

Chatbots are becoming productive members of messaging platforms and changing the way organisations do business along with many other benefits such as delivering value to consumers, while at the same time optimising cost and flexibility.

It also doesn't need training like a human; it gets programmed and it's ready to interact with the customer on the device of their choice and as it uses machine learning; it becomes smarter and responds to users more efficiently.


The hype around AI

AI is at its peak and many believe that we are on the verge of a technological revolution.

Arguably, today’s transformations are not merely a continuity of the third industrial revolution but rather the beginning of a fourth industrial revolution which is characterised by a merging of technologies that distort the lines between the physical and digital worlds.

From inexpensive, abundant labour to natural resources, Africa’s current assets don’t seem to match with the fundamental needs of the fourth industrial revolution that consist mainly of massive investment capital, research and development (R&D) and highly-skilled talent.

Though the ongoing industrial revolution represents an opportunity, if used well, it could enable Africa to become a main player in the world economy.


Wrapping it up

With such promising opportunities and innovative technologies being introduced into Africa, it could allow the country to stay on par with the rest of the world.

It's this combination of mobile, chatbots, AI and human agents that can could persuade businesses into the digital era and allow them to thrive in these new territories.


Thomas Kieck
Business Development Director
Tial Technologies

Source: Tial Technologies
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