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To all those reading this…
A very Happy New Year!
Whether you’ve been a regular reader of this blog or this is your first time here, we want to thank you for joining us on this journey of helping more people get protected.
With the start of a brand new year, we are already full of plans for what 2020 should hold. But, before diving ahead full-force, it’s crucial to look back at the journey till now- to take stock of all that happened and celebrate both the little and big wins.
It’s been a big year for Spixii with new associations formed and older ones bearing fruit and benefiting people. In 2019:
- Zurich UK demonstrated further engagement and trust in Spixii solutions by increasing their claims offering from one chatbot to eight on their website.
- Spixii started its eco-systems by officialising two consulting partnership agreements with PwC and Cap Gemini.
- Spixii won two awards for its innovative and well-made products: The UK Claims Award and a feature in the FinTech Global InsurTech 100 list.
- The former head of general insurance and protection at the regulator FCA, Michael Sicsic, comes on board as an advisor to Spixii.
Here’s shedding more light on the same.
The Spixii success story of 2019
Zurich increased the number of claims chatbots on their website
In 2018, Zurich UK engaged Spixii to build a new digital solution for its customers which would serve them at the moment of truth i.e. when making a claim. Together with Spixii- Zara, the Zurich claims chatbot- was born.
Zara delivered what it promised plus more. Hence, in April 2019, Zurich decided to dive deeper into customer-centric solutions by opting for more claims integrated chatbots.
They increased the number of chatbots from one to eight filling the demands of different claimants such as individual policyholders, brokers and municipal clients As of now, these chatbots are being employed for home and motor insurance in the personal sector as well as in the commercial and municipal insurance sectors. Additionally, 2 concierge bots are being used to direct claimants for commercial and municipal insurance policies.
Zurich’s decision to upgrade to eight chatbots was supported by an empirical approach. Spixii analytics summarised in knowledge reports underlined the specific feedback different claimants were giving. By creating expert chatbots the conversation became more tailored and personal to the claimants increasing the satisfaction and overall performance.
The time to process claims reduced from 24 hours to 3 working hours. This is a reduction of 87.5% of the initial processing time.
Some claimants were very enthusiastic after their conversation with Zara as this feedback shows:
“I found the question related to the claim very straightforward and easy to answer. The person I was was chatting to made me feel very relaxed and calm.”
Spixii chatbots are 100% automated with no human intervention on the conversational part except for the design. This feedback supports the fact that good design goes a long away.
Customers need to be reassured, feel calm and secure when filing for a claim. This testimonial is a recognition of the personalisation and human touch that characterizes all of the Spixii solutions that make them a success. We are deeply grateful for how fruitful and satisfying the Zurich UK and Spixii partnership has been.
Spixii officialises partnerships with PwC and Capgemini
This was another milestone in enabling Spixii to get more people better protected.
In the words of Hamish Drewry, Senior Manager, InsurTech at PwC:
"We recognise the value of the chatbot technology provided by SPIXII noting its successful adoption by a number of clients in the Insurance sector and look forward to collaborating with Spixii"
We look forward to the same, Mr. Drewry!
On the other hand, Spixii’s partnership with Capgemini came as a result of becoming the Emerging ScaleUp after cracking the Capgemini ScaleUp Qualification. The title of Emerging ScaleUp means that Spixii is scaling well and is well on its way to collaborating successfully with large corporations. Areas of improvement have been identified and work will be done here so as to increase credibility and the chances for a successful collaboration.
Under both partnerships, Spixii will explore and develop business opportunities where there is a need for automated insurance solutions. Spixii will play its part through proprietary chatbot technology.
Spixii recognised with two new prestigious awards!
The FinTech Global InsurTech 100 list is released annually and rewards most innovative companies which are bringing digital transformation to the insurtech space. Spixii was proud to be featured on this list for the second year in a row.
In June 2019, Spixii was also awarded the UK Claims Award for ‘Technology Partner of the Year.’ [1]
Strategy and experience are upleveled
The icing on the cake was the coming of the former head of General Insurance and Protection of the Financial Conduct Authority (FCA), the UK regulator -Michael Sicsic. Michael now supports Spixii with strategic advice and helps onboard new clients on the core solutions for sales and claims. His areas of focus are- the Insurance Distribution Directive (IDD) and compliance including data protection which was reinforced by the GDPR in May 2018.
We are extremely excited for 2020 and are looking forward to all the waves we can create in the insurtech sector in the coming year. Watch this space or join the Spixii journey on LinkedIn to keep updated with the same! Additionally, you can also have a look at the solutions and chat with the infobot to know more.
[1] Claims Awards UK
