Chubb has announced the launch of its AI-powered optimisation engine within Chubb Studio, its global technology platform for embedded insurance distribution collaborations.
Following this announcement, the new capability was developed to leverage proprietary AI in order to analyse data and deliver personalised insurance offerings at the point of sale.
In addition, the optimisation engine is expected to enable Chubb's partners to increase customer engagement and build stronger brand loyalty through the use of measurable development by aligning protection solutions with the needs of their customer base. Moreover, clients will have the possibility to gain access to simple, highly curated insurance options offered from the platforms and apps that they trust and within everyday digital experiences.
Chubb Studio's AI optimisation engine and the benefits provided to partners
According to the official press release, the launch of the Chubb Studio optimisation engine represents an important step in the way the company delivers its digital distribution to partners to engage their customers, increase conversion, and build financial resilience through highly relevant insurance protection. At the same time, through the process of combining data-driven insights with Chubb's products, the launch aims to provide improved insights for partners, as well as to deliver tailored insurance products and services that drive results.
Chubb Studio was designed to allow digital platforms worldwide to securely integrate insurance products into their customer journeys via APIs and SDKs. The new capability combines data-driven insights, click-to-engage technology, and direct marketing strategies in order to enable partners and busiensses to offer relevant products, such as phone damage, travel, or hospital cash and life protections, through marketing campaigns based on their specific customer personas.
Included in the key features of Chubb Studio's AI optimisation engine are the personalised recommendations (which provide AI-driven insights to identify customer personas and recommend products and engagement channels tailored to individual needs), click-to-engage technology (representing a frictionless way for customers to instantly engage with a trusted advisor through the use of phone, video or text in order to learn more about higher-value, complex insurance products), flexible integration models (the platform is set to offerd three integration options— Chubb managed, partner managed, and hybrid — in order to enable partners to choose the level of control and data sharing that best suit their needs), as well as data-driven insights (the performance data will be analysed in real-time, feeding back into the recommendation model in order to optimise insurance marketing campaigns).
