Icon

Directory

IconAccounting & Tax
IconActuaries
IconAdministrators
IconAppraisers & Valuers
IconArbitration Services
IconASIB
IconAssessors & Loss Adjusters
IconAssist and Lifestyle Benefits
IconAssociations & Institutes
IconAuditors
IconBBBEE Consulting and Verification Agencies
IconBroker Acquisition Financing
IconBrokers for Brokers
IconBusiness Process Management
IconBusiness Process Outsourcing
IconCall Centre Outsourcing & Sales
IconCompany Secretarial Services
IconCompliance
IconConsumer Protection
IconCorporate Governance
IconCredit Bureaus
IconDebit Order Collection Facilities
IconDefensive Driver Training
IconEducation and Training
IconEmergency Medical Rescue
IconFAIS
IconFire, Storm, Flood Damage Specialists
IconForensic Investigation Services
IconHuman Resources
IconIndustrial Cleaners
IconInformation Technology and Software Partners
IconInsurance Companies
IconLegal
IconLightning Damage & Surge Protection Specialists
IconNiche Insurance Products
IconOmbud
IconOutbound Sales
IconOutsourcing Companies
IconPolicy Administration
IconPremium Financing
IconPublic Loss Adjustors
IconPublications
IconRating Agencies
IconReference Books & Material
IconRegulatory Authorities
IconRisk Finance
IconRisk Management
IconRisk Surveyors
IconSalvage Operators
IconSpecialized Claims Investigations & Assessing
IconSurveys and Research
IconTraining Courses & Workshops
IconUnderwriting Managers
IconVehicle Accident Management
IconVehicle and Household Risk Inspection Services
IconVehicle Tracking
IconWellness Programs
IconWholesale Brokers
IconZZZZZZ
Image
  Subscribe To »

Introducing the future of insurance: Mobile, Chatbots and AI

Published

2019

Mon

05

Aug

 

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
 
« Back to previous page Print this page » |
 

Breaking News »

Allianz: The 7 trends making engineering and construction projects bigger and costlier than ever

Projects are increasingly complex, often with values in the tens of billions of dollars, and can run for decades. Fire and explosion incidents most expensive losses globally. Defective product and business interruption ...
Read More »

  

SAIA welcomes City of Johannesburg’s assembly of 40 new fire engines

The South African Insurance Association (SAIA) welcomes the recent announcement made by the City of Johannesburg confirming that an initial order to the value of R216 million for fire engines and other fire emergency ...
Read More »

  

AGCS Africa CEO recognized for exceptional leadership

Johannesburg, August 8, 2019: Non-profit organization, the Broad Pool of Ideas (BPI) Foundation recognized Allianz Global Corporate & Specialty (AGCS) Africa CEO, Thusang Mahlangu, with the Future Leader Award ...
Read More »

  

WAR (INSURANCE) - WHAT IS IT GOOD FOR?

Political rivalries and conflicts are increasingly being played out on the high seas, increasing risks for ship owners and seafarers, as demonstrated by a number of hostile incidents involving vessels in one of ...
Read More »

 

More News »

Image

Healthcare »

Image

Investment »

Image

Life »

Image

Retirement »

Advertise Here
Image
Image
Image
Image
Image
Image
Image
Advertise Here

From The Glossary »

Icon

Reassured / Reinsured:

An individual who is reinsured.
More Definitions »

 

Advertise

 

eZine

 

Contact IG

 

Media Pack

 

RSS Feeds

By using this website you agree to the Terms of Use.
Copyright © Insurance Gateway (Pty) Ltd 2004 - 2019. All Rights Reserved.