Insurtech INZMO has launched ‘NIMO’ (Neo-Insurance Multitasking Opal), an advanced chatbot powered by ChatGPT.
Available through the INZMO website, NIMO hopes to transform customer service by providing fast, accurate, and personalised assistance 24/7. The launch also aims to enable INZMO to streamline operations and reduce costs.
NIMO will provide instant assistance to INZMO customers, addressing frequently asked questions relating to the company’s insurance products – helping them make more informed decisions. This includes providing information on a policy, claim procedures, coverage options, and pricing structures while ensuring users receive accurate and comprehensive information tailored to their specific needs.
Following the launch, NIMO will primarily address customer service enquiries with INZMO closely monitoring the technology to gauge its potential and to gain insights into customer impact and engagement. The insurtech plans to use these findings to inform plans to further develop the chatbot’s capabilities to support customers in other areas.
Meeri Savolainen, founder and CEO of INZMO, discussed the launch: “At INZMO our vision is to provide innovative insurance products that simplify the lives of our customers.
“We’re also committed to setting new standards in customer service and convenience, and our chatbot is a significant step in this direction. With NIMO, we’re aiming to enhance the customer experience while streamlining our operations and reducing costs so we can provide even greater value to our users.”
The quickly evolving future of AI chatbots
The insurtech has revealed it is already looking to build out the chatbot’s self-service functionality, to enable customers to manage various aspects of their policies. Modifications, cancellations, extensions, or even payment-method changes may all eventually become possible with added functionality for the chatbot.
Other future developments explored include guiding customers through the sales journey; offering personalised recommendations based on individual needs and demographics; and supporting the claims and settlements process. If this becomes a reality, NIMO plans to verify the validity, accuracy, and completeness of claims, streamlining and making what is often a stressful process more efficient and hassle-free for customers.
Illimar Hirsnik, chief technology officer at INZMO, added: “It’s clear that AI and large language models will be a critical asset to our sector going forward. Our goal is to be Europe’s most customer-centric insurance company, and NIMO will complement our existing approach to delivering exceptional insurance services. By transforming the way customers engage with us, we’re aiming to enhance satisfaction and drive loyalty among our users.”