ZhongAn Online to apply AI to improve service

October 31 2017 by InsuranceAsia News Staff

Capitalising on the potential of artificial intelligence in business, China’s first online-only insurance firm has said that it plans to deploy the technology to further improve its offering.

ZhongAn Online Property & Casualty said that by adopting AI in its business, it hopes to improve service quality, especially in the pricing of products, underwriting, fraud detection and customer services.

According to Wayne Xu, the company’s chief operating officer, machine learning can boost the quality of customer service. He said the development of AI is set to become a significant trend in the insurance industry.

The use of this technology is also consistent with China’s young population and its ready adoption of smartphones and willingness to transact online.

At present, ZhongAn directs customers with queries to a chatbot communication tool that does not involve any human interaction at all.

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