Giving AI the Reigns of Our Life Insurance Landscape

There is plenty that human beings can do well, but at the same time, there is little we do better than growing on a consistent basis. This progressive approach, on our part, has already got the world to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, predicated upon its skill-set, which ushered us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to produce the right goods. The same has grown increasingly evident over the recent past, and assuming one new fintech development shakes out just like we envision, it will only make that trend bigger and better moving forward.

Sproutt, the life insurance company that modernizes life insurance for agencies, agents, and their customers, has officially confirmed the introduction of a new cutting-edge AI engine, which has been conceived to bolster the company’s proprietary SmartLife platform. According to certain reports, the stated AI engine will allow agents and agencies to ensure an effective brand of predictive product fulfillment, as well as access those “first in the industry” client engagement capabilities that are born from the principles of Large Language Models (LLM) technology. Talk about how the development will impact the picture on a granular-level, it will bank upon generative AI to create unique and personalized client communications. Interestingly enough, alongside previous interactions with the client, the system will also consider stuff  like client’s policy anniversary, renewal date, birthday, and even something as general as local sports team news before putting-together a customized foundation for communication. This ability to be client-specific, like you can guess, can be alternately used to anticipate future client needs, and therefore, deliver complimentary product recommendations. Such a piece of utility is expected to restructure the way insurance industry handles the entire selling process, increase STP rates, and  transform agents into experts.

When quizzed regarding the launch of a new AI engine, Yoav Shaham, CEO of Sproutt, responded by saying:

“As we continue to expand our offerings, we see the SmartLife platform as a game-changer for the life insurance industry,” he said. “With the integration of AI, agents will have the ability to sell more effectively and communicate more efficiently with their clients, ultimately leading to greater customer satisfaction and increased sales.”

Founded in 2018, Sproutt’s rise to prominence has been orchestrated by its groundbreaking SmartLife platform, a platform which is taking Life insurance distribution into the modern era. But what are some of things you can do through the stated solution? Well, the SmartLife is currently able to help you with objectives, such as risk assessment, tailoring policies, enhancing customer experience in a way that is scalable, and more.

“The goal is to arm agents with the best tools and technologies to help them build strong client relationships and supercharge their sales efforts,” said Craig Shigeno, CEO of Shigeno Consulting. “By employing generative AI, agents will have instant access to personalized content that resonates with their clients, generating more effective outreach and saving valuable time.”