That means that the Spixii software uses AI and machine learning techniques to “learn” how to communicate with customers in as natural a way as possible.
We quite like what we’ve seen so far. The team recently presented at the Startup Bootcamp Insurtech demo day in London; the most impressive thing is, perhaps, that they arrived in London in January without a firm proposition and now have a decent prototype that is getting traction with insurers.
Why do insurers like this? Bots allow insurers to engage with customers in a more or less natural way. In particular, they re-engineer the traditional online sales process around the customer – no longer is the thinking around an online form that customers need to fill in, but the bot tries to respond to the customer’s needs (whilst asking enough questions to offer the right product).
More forward thinking insurers will also have noted that Facebook Messenger is rapidly evolving from a chat service to a “channel”. KLM recently announced, for example, that it would be issuing boarding passes through Messenger. The service would be a great channel for insurance, and the first step is getting your bot software working.
It goes without saying that chatbot businesses stand and fall with the quality of their software… but based on the last three months, Spixii is heading in the right direction.
Chris leads engagements across strategy and transformation, focusing most of his time on global reinsurance and UK & Ireland retail insurance.
Chris started his career at Munich Re where he was a D&O underwriter. During this time, he gained his ACII qualification. He then moved into consulting, where he has spent 20 years advising (re)insurance management teams around the world on topics including strategy development, operating model redesign, governance optimisation, underwriting transformation and innovation. Chris lives in London and spends a lot of his time with clients in Bermuda and Continental Europe.
Chris frequently authors Oxbow Partners papers and articles. He was the lead author on our InsurTech Impact 25 series. He is a dual British and Austrian citizen and speaks fluent German.