June 13, 2019 09:30
Canada protection Plan (CPP) has just launched technology solutions, whose role is to help financial security advisors to sell its insurance policies.
The general agent, specializing in life insurance without medical requirement and issuance of a simplified implementation, in particular on artificial intelligence.
Customers guided by Emily and Alexa of Amazon
In partnership with the company Thinktum, PPC has developed Emily, a chatterbot-mail. This chatbot can be requested from the web site of PPC. Emily asks questions and the advisor or its client responds to it. According to the profile of the person to be insured, the robot can determine the best cover for it and assess the amount of the premium.
PPC also allows advisors and clients to discuss with Alexa, the assistant voice ofAmazon. The principle is the same as with Emily, except that instead of chatting, the person interacts aloud with the application.
The two virtual agents are there “to support the advisor during the process of venteִ,” says Michael Aziz, a senior vice president and director of distribution for PPC. If it is a client that uses Emilia or with Alexa, it must pass by his counsel, if he wishes to initiate a transaction at the end of the conversation.
Sell via a digital assistant
The second numerical solution implementation service by Canada Protection Plan is the Programme of assistance to the consultants (PAC). This tool offers the opportunity for an adviser to make a sale without having to meet the customer appointment. Unlike the robot conversational, the CAP ” allows the customer to complete a proposal of coverage “, leading Mr Aziz.
Specifically, the process starts when the advisor sends a link digital to its customer. After you have clicked on it, the customer is invited to answer three questions allowing the machine to determine the right product for him. From there, the client completes itself with the proposal made by the tool. It can query Emily or Alexa if he has any questions during this process.
Once completed, the proposal is then sent by e-mail to the representative so that it can do its part, thus completing the sale. “It always involves the advisor,” insists Michael Aziz.
Launch was pushed back to Quebec
In the framework of a sale made through the CAP, the step of analysis of the financial needs of the client is done online, but only if the client wants it.
“The tool allows the client to bypass this step. We will encourage them to do this analysis, but if it says to be sure you don’t want to do it, it shall come to pass directly to the proposal, ” says Mr Aziz.
In Québec, the Regulation on alternative methods of distribution of thefinancial markets Authority, which will oversee the sale of insurance products by the Internet and the distribution without a representative from the 13 June this year, provides for the obligation to analyze the financial needs of the client before concluding an online sale.
Following the publication of the regulations, on may 15, PPC has had to take “change” to upgrade its Programme of assistance to the advisors. Because of this, the tool will not be launched in Québec in July, ” says Mr Aziz. It is available in other provinces of Canada since may 29.