AI-driven insurance provider Peppercorn has launched on Confused.com.
Founded by Nigel Lombard, Peppercorn claims to have created the world鈥檚 first conversational AI insurance assistant.聽
Peppercorn says the platform enables customers to benefit from a more responsive and user-friendly experience, from insurance purchase to policy adjustments.
By empowering customers, Peppercorn鈥檚 assistant is able to help and guide them through the insurance purchase process resulting in a more personalised user experience. Furthermore, putting the customer in control of the conversation also removes the need for filling out forms and waiting on hold with the assistant able to respond to queries straightaway using natural language understanding.
By relying on smart, intuitive, conversational technology, Peppercorn is able to keep operating costs and expense ratios low, particularly compared to legacy insurance providers. Not only does this remove the need for physical call centres, it says, but also results in more competitive insurance premiums for the customer.聽
Furthermore, by utilising counter-fraud technology and pre-inception underwriting decisioning, the platform aims to ensure that customers are getting the best possible coverage at the best possible price.
The company, which raised 拢1.8 million in seed funding from EHE Capital in April, is initially focusing on motor insurance and is a managing general agent.
鈥淭he traditional insurance model is broken. High operating costs and outdated business practices such as filling out manual forms and leaving customers waiting on the phone on hold all result in a frustrating user experience where the customer ultimately pays much more than they should for insurance. We鈥檙e here to change that,鈥� said CEO Lombard.
鈥淥ur team has a dynamic blend of insurance and technology expertise and have worked hard to build a unique experience and service. To launch a quality product on a leading Price Comparison Website in such a short space of time is a testament to the team鈥檚 commitment to transforming the insurance industry.聽
鈥淭his is a significant milestone for us and we鈥檙e just getting started. Our company is committed to refining and evolving Peppercorn鈥檚 platform, empowering our customers and improving their experience, one conversation at a time. At a time when saving money on bills is at the top of everyone鈥檚 minds, Peppercorn will show how smart technology can result in fairer pricing for consumers. And the response we are already getting from our customers suggests they agree too.鈥�