EXECUTIVE INSIGHT
come . AI is reshaping how we operate , create value and engage with customers . At Qover , we ’ ve focused on building an AI-driven culture , integrating AI into every aspect of our business to make embedded insurance more seamless and customer-centric .
There are two types of AI to consider : vertical and horizontal . Vertical AI is specialised for specific tasks within an industry , like processing claims or automating underwriting . At Qover , we use vertical AI to streamline these processes , ensuring claims are handled faster , more accurately and with fewer errors , leading to quicker , fairer resolutions .
Horizontal AI , meanwhile , applies across multiple functions or industries . We use tools like GenAI chatbots to enhance customer interactions at various touchpoints . This approach not only meets the needs of tech-savvy customers who prefer quick digital interactions but also ensures that human agents are available for more complex , personalised support .
Overall , AI is making insurance more accessible , relevant and integrated into customers ’ everyday lives .
Q . THE CONCEPT OF EMBEDDED INSURANCE IS GROWING RAPIDLY , ESPECIALLY IN THE AUTOMOTIVE INDUSTRY . HOW DO YOU SEE THIS TREND INFLUENCING THE RELATIONSHIP BETWEEN INSURERS , AUTOMAKERS AND CONSUMERS ?
» Embedded insurance , where coverage is seamlessly integrated into the purchase or lease process , is opening up new opportunities for the automotive industry . Automakers have worked with insurers for years , but now I believe a real shift is happening . Today ’ s cars are essentially ‘ computers on wheels ’, offering a unique chance to offer insurance that is far more convenient and relevant for modern consumers .
For automakers , embedding insurance into the customer journey – whether online or at the Dealership – creates a smoother , more seamless experience .
36 November 2024