Driving Insurance Innovation: Pypestream

In an on-demand economy, consumers expect real-time service and customer support. Through the use of chatbots, carriers can deliver real-time customer service while also improving operational efficiencies. Understanding the service and efficiency gains that chatbots deliver, it’s no wonder they are the one of the most discussed topics in InsurTech. 

In my previous blogs in this series, I shared the value propositions for InsurTechs FinanceFox and Insurify. Today I will review Pypestream, an enterprise chatbot. 

Who?

Allows carriers to leverage artificial intelligence (AI) in combination with chatbots to execute core business processes, automate customer inquiries, process payments, schedule appointments, etc. See video here https://vimeo.com/217239204.

Their Value Proposition

Pypestream purports they can automate 80% of policyholder inquiries, leading to improved customer service times and reduced carrier costs.

To create an omnichannel experience, live agents work in combination with chatbots to ensure a complete customer experience. Bots transition to live agents when issues can’t be resolved, or if the customer requests additional assistance. 

They aren’t just a bot.  They have a 3-step pragmatic AI process:

Step 1: Automate repetitive processes
Step 2: Learn from user behavior
Step 3: Build the framework for machine learning

The Opportunity

Pypestream is an enterprise chatbot. For carriers who offer a portfolio of products like life, annuities, and banking, Pypestream can support chat across their entire portfolio.

Those insurers looking to offer chatbot interactions across their P&C policy, claims, and billing operations can tap Guidewire’s Facebook Messenger chatbot which delivers an omnichannel experience across InsuranceSuite. You can see this in action via the video links below:   

Quote & Buy Facebook Messenger Demo

 

FNOL Facebook Messenger Demo