PolicyPal chatbot leads Asian insurance industry on AI
Fintech start-up PolicyPal has teamed up with IBM's Watson to launch Asia's first artificial intelligence (AI) insurance chatbot app for mobiles, powered by Watson Conversation. Watson accessed PolicyPal's database of 9,000 insurance policies to learn about customer intentions, while the chatbot, which uses machine learning and natural language processing, answers customers' questions and simplifies complex insurance jargon. Singapore-based PolicyPal said the chatbot will help users make "informed, data-driven decisions" about their insurance cover. PolicyPal identifies gaps in coverage and suggests policies for areas where the user is underinsured. Users are also able to buy policies via the app.
Think will travel to 11 cities across the globe from 14 June through 10 October.