The first company to adopt the new bot is the Phoenix, which launched its new travel insurance product – Phoenix Travel, a few months ago
The LeO startup is currently launching a travel insurance chatbot for insurance agents.
The first company to adopt the new bot is the Phoenix, which launched its new travel insurance product – Phoenix Travel, a few months ago.
The chatbot allows an open and human conversation with the customer enabling him to carry out full execution of the process – receiving a price quote, purchasing and payment in a friendly and easy manner, without human involvement.
The chatbot is installed on the insurance agent’s website as a link to connect via the IVR system in the insurance agent’s office or as a link for sending campaigns initiated by the agent. The chatbot is branded in line with the agency logo, interfaces with full integration with the Phoenix’s systems and enables completion of policy purchase, issuing and payment process.
In addition, LeO’s management system allows the agent to gain an indication of leads who have started the process but not completed it, in order to enable contact to complete the process.
Phoenix travel insurance sector manager Dudi Oz: “The Phoenix Smart travel plan is travel insurance of the new generation and is the leader in all aspects of coverage, service, tariffs and digitalization and as such it is important for us to maintain access for all agents and customer to all of the communications channels. We have been collaborating with LeO in recent months, who has been developing a chatbot for insurance agents for issuing travel insurance policies. In addition to the digital tools provided by the Phoenix to its agents, the agent also has the option of purchasing via LeO a digital communications tool that enables a smart dialog between the agent and the end customer, creating a good and interactive customer experience in a full issuing interface with the company’s systems, which will place the agent at the forefront of technology”.
Warming up the customer
This travel insurance bot launch joins the launch a few months ago of the activation chatbot, which includes pulling out Insurance Mountain data. When loading the customers file, the chatbot applies to the agent’s customers and offers them a check of his insurance portfolio via the Insurance Mountain, in a short focused conversation and even sets a time for calling. The bot then extracts the information and create a hot lead for the agent.
LeO founder and CEO Liri Halperin-Segal explains that this is an efficient way of exploiting the agent’s customer base, warming up the customer running up to a meeting or sales meeting. According to her, the bot’s conversion rate is over 40% and increases the more information the agent gives about the customer. Thus, using the bot creates for the agent a high ROI relative to his actual expenditure.
These products join a range products launched by LeO in the last year, including a car insurance renewal bot in accordance with the Joining Circular, a chatbox for sending documents including a reminders mechanism and which sends pushes to customers who have not completed the process with the company (for example the claims history, anti-theft security documents etc.).
LeO recently completed a 1.6 million dollar raising round from private investors. This follows the company having been accepted, along with eight other ventures, to the IBM Accelerator.
The company is currently deploying for expanding its activity in the United States. The company held a technology convention in New York in September aimed at insurance agencies and companies. Tens of participants took part in the convention, which included a panel on the subject of insuretech and the assimilation of new technologies in agencies and companies. Halperin-Segal also took part in the Los Angeles Insuretech Conference, regarded as one of the biggest in the world, and took part in a panel and competed in competition for promising startups from around the world.