Ever felt frustrated while buying insurance? You are not alone? Insurance has always been difficult for most Indians because of complex policy wordings and lengthy documentation.
What if insurance buying was made so easy that people can buy insurance over a mobile chat? That's exactly what this young insuretech startup aims to do. AskArvi is India's first fully automated insurance web aggregator that provides an easy, personalized buying experience to customers over a mobile chat.
Company has launched its personal insurance assistant, Arvi, that uses artificial intelligence and data to make insurance buying instant, intuitive and informative for customers.
"Our vision is to help our customers make the fastest and smartest financial decisions over a mobile chat," said co-founder and CEO AskArvi.com, Sushant Reddy.
Arvi, our personal insurance assistant, has so far engaged in chat conversations with 15,000 customers needing help in health and travel insurance. Over time Arvi was trained to help customers select products with specific features, answer policy related questions and provide value added product recommendations - all of this without a call-center support or other human intervention.
"We got together with a dream of providing an 'agent' like selling experience to customers using technology. All of us are passionate about chat/voice based commerce," said CTO AskArvi, Mandar Zope.
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AskArvi is founded by a team of IIT Bombay engineers. The company has closed its seed round in September and is LIVE for Health and Travel insurance plans and are planning to expand into 'motor' and 'life' segments over the next 6 months.
Over the next few months, Arvi plans to leverage the latest Artificial intelligence platforms like IBM Watson to have intelligent insurance conversations with customers. Customer can ask Arvi questions like "Show me plans that provide maternity benefits" or "Show me plans that provide best cashless coverage in Mumbai". Arvi will automatically filter plans according to customer needs and enable better decisions.