Company’s Investment in Artificial Intelligence Is Rapidly Transforming How Consumers Purchase Insurance
December 5, 2017 Nexus Enterprise Solutions, Inc. (NXES) announced its integration of Bot Technology into its online insurance marketing and sales services providing its portfolio of major insurance carriers and extensive sales agent network with an opportunity to create more efficient, higher performing sales channels.
CEO James Bayardelle stated, “we’re investing in this technology to create an opportunity for carriers and agencies to engage with customers further down the sales funnel, which helps reduce typical soft costs associated with engaging the consumers to issue a quote. “
Bots utilize Artificial Intelligence to communicate with people, much the way a person would. Whether it be through normal calling, texting or any other platform, data on consumer-based Bot performance has been so compelling that companies such as Facebook (FB) and Apple (AAPL) have created a special APIs to allow for BOT technology, like the one being utilized by Nexus, through their Messenger and iMessage systems respectively.
Nexus will be using the BOT software to engage customers looking for insurance and then transferring the consumer to a licensed agent (if the customer wishes to bind a policy) as well as a Software-as-a-Service (SaaS) Model, where larger carriers and agencies can utilize the software in the place of agents dialing out to consumers.
“With over 80% of consumers no longer wanting to initially speak with agents to get an insurance quote, our new Bot Messaging Software allows us to not only reduce carrier and agency costs, but also meets the current demand of consumers looking to find the best insurance options, whether it be their Auto, Home or Health insurance” said CEO James Bayardelle. “When compared to the fintech revolution, the insurance industry has been a late adopter of BOT technology so it’s exciting to see these same, transformative technologies now moving the insurance industry into the age of Artificial Intelligence.”