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ITA Pro Weekly, October 23,2020

Floatbot’s chatbox solution at the GIA, Xceedance’s Ranjan on COVID and business, the difference between GPAs and POCs, and more…

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Hot off the presses!

Even though this year it’s virtual, fall is the season for the GIA (Global Insurance Accelerator)’s Insurtech Week – and chatbot insurtech Floatbot is part of the action. Floatbot CEO and Founder Jimmy Padia talks about GIA’s selection process and more, and how his product is helping insurers and agents change prospects to leads.

“Floatbot’s voicebot can make outbound calls to interact with the customer and share product information. If the customer is interested, the bot will either transfer the call or schedule an appointment with an agent. This means the agent will only interact with 50 qualified leads instead of thousands of unqualified leads. We can reduce the customer acquisition cost through outbound tele-marketing calls by 80% and increase the agent’s productivity by 90%.”

 

From omnichannel to digital transformation to AI, the InsurTalk podcast from Guidewire brings you expert insights from people who have driven innovation and turned possibilities into realities. Check out the first few episodes, featuring leaders from Aviva Italy, Economical Insurance, WSIB, and Farmers Insurance.

 

Amit Ranjan is executive VP and CAO of Xceedance, a global provider of strategic operations support (SOS), which includes consulting, managed services, data sciences, and technology across the entire insurance lifecycle. In this week’s Electronic Chat, he talks about how his company’s global presence is helping it succeed in the current COVID climate.

“With the entire Xceedance staff across the world working remotely, we have taken on additional projects to support our clients; and we have added various new clients this year during these challenging times, as insurance organizations require critical support and backup for their dispersed workforce. We are helping clients with a range of strategic operations support, digital transformation, and technology solutions — enabling them to continue to meet the expectations of their customers.”

 

Insurtechs are known for knocking it out of the park on POCs. So why doesn’t that success translate into an actual, full-blown implementation? In the latest “Eye of the Storm” blog series, HazardHub CEO Bob Frady examines the big, big difference between GPAs and POCs, and how sometimes even the most thorough insurtechs can fall flat.

“Part of the problem is the insurtechs themselves because they hesitate to ask the ‘so what’ question. As in, ‘When we do a great job on the POC…so what?’ Forcing carriers to address the implementation question is fear-inducing, as it may mean you never get the POC in the first place. But it’s better to spend your time chasing real opportunities than projects designed to show the carrier is playing nice with startups to improve their AM Best score.”

 
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