’Time-saving tech’ from collaboration aims to help the software house’s broker partners ’to focus on growth and evolution’, says chief executive
Insurance software house Open GI has partnered with artificial intelligence (AI) specialist firm OpenDialog to add conversational AI chatbot agents to its three policy administration systems (PAS) – V, Core and Mobius.
This technology will initially be rolled out as part of a pilot programme, which will start in mid-October.
The partnership aims to benefit Open GI’s broker customers by automating customer service interactions and routine processes across the policy lifecycle.
For example, Open GI’s broker partners will be able to create propositions using OpenDialog’s generative AI chatbot – the software house hopes this will help to free up brokers’ time so that they can instead address more complex tasks.
Simon Badley, chief executive at Open GI, said: “This partnership will elevate the Open GI PAS systems and ensure we are offering the best, most innovative technology to our loyal customers.”
He added that the “time-saving tech” will also help Open GI’s ”brokers to focus on growth and evolution”.
Open GI’s partnership with Open Dialog comes hot on the heels of September 2024’s private equity deal, which saw alternative investment management firm Ares Management become the software house’s majority shareholder.
AI agents
OpenDialog specialises in developing AI agents for regulated industries through the use of generative AI and large language models (LLMs).
The company’s technology can support many business functions, including marketing, quoting, claims and renewals.
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With the ability to automate the majority of interactions, Open Dialog’s AI chatbots can be implemented on any website via mobile applications, messaging services and voice channels.
OpenDialog predicted that up to 90% of PAS queries could be dealt with by its AI.
Open GI therefore believes that if a broker receives 5,000 mid-term adjustment enquiries, it should be possible to divert around 50% of these to an AI agent. This could save brokers up to £120,000 per year.
Dean Chapman, chief commercial officer at OpenDialog, said: “It is fantastic to partner with an organisation with the heritage and reach of Open GI. Our products fit seamlessly into Open GI’s PAS systems and we’re looking forward to supporting Open GI brokers to focus on growth.”
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