ICICI Lombard says AI service helped it improve policy sale, claims

Response time to customer request reduced from 12 hours to 2 hours, says insurer

General insurer ICICI Lombard has said Microsoft’s artificial intelligence (AI) Azure Cognitive Services helped it to manage insurance policies and settling claims.

Azure AI tools enabled ICICI Lombard to increase the accuracy of quality audit during its calls from 50 per cent to over 80 per cent, said a press release on Thursday. It reduced response time to a user query or request from 12 hours to two hours, apart from increasing the productivity of its call centre agents.

The release said the firm's digital team currently makes over 1,000 outbound customer calls a day through its call centre. While the company screened and audited calls randomly to check compliance levels and quality of its tele-customer service, the high call volume was affecting the efficacy of audits.

Azure Speech Services provides speech recognition and generation capabilities including speech transcription, text-to-speech, speech translation, and speaker recognition.