Health insurance remains underpenetrated and expensive in the eyes of consumers in India: FICCI-EY Knowledge Paper
What if insurance buying was made so easy that people can buy insurance over a mobile chat? That's exactly what this young insuretech startup aims to do. AskArvi is India's first fully automated insurance web aggregator that provides an easy, personalized buying experience to customers over a mobile chat.
"Our vision is to help our customers make the fastest and smartest financial decisions over a mobile chat," said co-founder and CEO AskArvi.com, Sushant Reddy.
Arvi, our personal insurance assistant, has so far engaged in chat conversations with 15,000 customers needing help in health and travel insurance. Over time Arvi was trained to help customers select products with specific features, answer policy related questions and provide value added product recommendations - all of this without a call-center support or other human intervention.
AskArvi is founded by a team of IIT Bombay engineers. The company has closed its seed round in September and is LIVE for Health and Travel insurance plans and are planning to expand into 'motor' and 'life' segments over the next 6 months.
Over the next few months, Arvi plans to leverage the latest Artificial intelligence platforms like IBM Watson to have intelligent insurance conversations with customers. Customer can ask Arvi questions like "Show me plans that provide maternity benefits" or "Show me plans that provide best cashless coverage in Mumbai". Arvi will automatically filter plans according to customer needs and enable better decisions.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)