Prudential uses AI to enhance customer experience when recording consultations

Recently, Prudential has deployed AI technology to record the consulting process, a technology capable of recording and encrypting the content of consulting conversations to increase transparency and optimize the operating system, while still ensuring the experience of both customers and consultants.

AI's mark on the insurance industry

If 2023 is considered the year of explosion with artificial intelligence (AI), then by the first quarter of 2024, up to 65% of businesses have started applying artificial AI to operations and business activities, according to McKinsey's Q1/2024 report.

Among them, the fields where businesses apply AI the most include: marketing and sales (34%), product and service development (23%) and information technology (17%).

In Vietnam, generative AI is starting to make its mark as businesses are taking advantage of this technology platform to develop their products or improve services.

In the insurance and finance sector, Prudential has applied generative AI to encode input data in recording, thereby optimizing the consulting process and customer service. According to Prudential representative, generative AI is not only an inevitable technology trend, but also comes from practical requirements and legal regulations to make insurance consulting processes transparent.

Before the update of the Law on Insurance Business in the regulation on recording the consultation process starting from November 2, 2024, Prudential has deployed a pilot application of AI technology to record the consultation process from October 15, 2024 before the date prescribed by the Law, as of October 31, the success rate reached more than 94%.

Insureds feel satisfied when the key information of the contract is summarized during the recording.

Prudential’s new technology is highly appreciated by users for its transparency. As for the team of consultants, AI helps them standardize their work processes, as well as ensure the accuracy and honesty of information when working with customers.

"When recording with customers, I thought the recording was re-heard from the operations team so there were some minor adjustments. However, when the application was rejected, I realized that the technology that the company applied to the recording process would help clarify and make every detail of the consultation process with customers clear and transparent," said Mr. Truong Van Phuc - Financial consultant of Prudential.

The trend is irreversible.

Mr. Tran Le Quoc Son (Son Tran), Deputy Chief Information Officer (CIO) at Prudential Vietnam, said that the company is currently applying both traditional AI and Generative AI to improve the quality of sales processes and customer experience.

"We choose advanced technologies, combining big tech and superior solutions from leading domestic startups, solving many specific problems in the recording process. Applying AI technology into practice with Prudential is a core strategy for sustainable development, not just a short-term test, although it is determined that there will be certain difficulties in the initial application period. We have reputable and experienced partners, along with a dedicated internal team to accompany us in realizing a meaningful project to serve customers." - Mr. Son Tran emphasized .

Mr. Son Tran, CIO of Prudential Vietnam, is proud to apply technology to the sales process, helping to enhance customer experience.

In addition to AI technology, the bigger problem at Prudential is the application of technology throughout the operational value chain to solve larger-scale problems. In recent years, Prudential has made significant advances in technology. In early 2022, Prudential achieved a major infrastructure breakthrough, applying cloud computing to more than 90% of all Prudential infrastructure, thereby optimizing and automating internal processes. The most encouraging result is that investment focuses on paying customer benefits, increasing the rate of payment automation, stabilizing operations and improving customer experience.

The real destination of technology

Ms. Nguyen Thanh Ha - Deputy General Director of Insurance Transactions (COO) at Prudential Vietnam believes that the true destination of technology or AI technologies recently deployed is to demonstrate Prudential's commitment to the "customer-centric" strategy.

"This is both a guideline and a source of inspiration for us to constantly innovate in all activities. In particular, the application of technology to the customer care and consulting process is always our top priority," Ms. Ha emphasized.

Ms. Nguyen Thanh Ha - COO Prudential Vietnam said there were still challenges in the initial stages of applying the recording process.

On the other hand, Prudential leaders do not deny that there will be difficulties when applying new processes and technologies. Overcoming these challenges, the company chooses to listen to feedback from customers and consultants to continuously improve, as well as provide the best experience and ensure transparency in sales consulting activities.

In addition to its customer-centric strategy, Prudential is also committed to compliance with regulatory requirements. That’s why the company has developed technology that not only supports recording in the sales process, but also makes it a meaningful part of the experience.

Looking to the future, the Prudential leader is committed to continuing to promote the application of technology, especially AI, in the operation process. Ms. Ha believes that technology is now not only a tool, but also a bridge to build stronger and more trustworthy relationships with customers.

Source: Prudential Vietnam

Source: https://phunuvietnam.vn/prudential-ung-dung-ai-tao-sinh-giup-gia-tang-trai-nghiem-khach-hang-khi-ghi-am-qua-trinh-tu-van-20241203085033795.htm