IndiaFinance and insurance2023 – ongoingICICI Lombard
RIA AI assistant for policy servicing
ICICI Lombard reported around 1 lakh monthly transactions through its RIA assistant
Problem
Policyholders needed access to policy documents and routine servicing. They also needed help locating hospitals and garages.
Approach
ICICI Lombard operated RIA, a virtual AI assistant, on its website and messaging channels including WhatsApp and Telegram. Customers used it to download policies, request modifications and renew cover. RIA also supported provider searches and was available in English and Hindi.
Results
Takeaway
RIA handled routine insurance servicing across existing customer channels. The transaction count did not establish how many requests were resolved without staff involvement.
Categories
- Size
- Large enterprise
- Industry
- Finance and insurance
- Business function
- Customer service
- Innovation type
- Process innovation
- AI technology
- Conversational and voice AI
- Adoption
- Built in-house
- Evidence
- Company's own claim
Sources
Source summaries
ICICI Lombard described RIA's policy-servicing functions and customer channels. It reported around 1 lakh monthly transactions without giving a resolution rate for the assistant.
Full details are in the original sources.