The Tokio Marine Insurance chatbot, colloquially known as TOMI, released by TOKIO Marine Life Insurance Singapore Limited (TMLS) is the city state’s first chatbot to be released for use by any insurer for the use of its advisers. TMLS is Singapore’s top insurance provider offering retirement solutions.
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TOMI is available at all hours, all days via Facebook messenger. It answers frequently asked questions (FAQs) posted by advisers. The program expands its knowledge by keeping track of all questions it cannot answer. From the time of its launch, about 60 percent of the agents in force have interacted with this chatbot. The result is a satisfactory one for all concerned. According to TMLS, the rationale behind this chatbot is to bring to speed new agents with information. It helps as advisers interact with the Facebook messenger. Advisers can now efficiently organize their time. They now handle complex queries. Customers’ waiting time is also reduced. The chatbot sees more use during company roadshows.
For TMLS, the TOMI is the start of the company’s insurance technology and digital journey. The actions of the company focus on developing the tools which engage the complete value chain of the customer. The largest retirement insurance provider in Singapore has reiterated its commitment to start new digital initiatives in line with its customer friendly strategy. These include methods of exploring options to increase the existing functions offered by TOMI. The company wants a better qualitative discussion both with its advisers and also its customers.
The TMLS wants to increase TOMI’s capability over a period of time. For this, the insurance company will depend on Deep Learning for Natural Language Processing or Deep NLP solution. The latter powers the chatbot. This Deep NLP allows the chatbot to comprehend language which goes beyond the identification of keywords. Users also get the information they want.
Better than the competition
The TMLS vision is to have TOMI much better than any run of the mill chatbot. The company realized that this level of engagement with any chatbot depends on the ability of the chatbot to comprehend questions asked in natural language. The answers must also be accurate in response. In contrast, a typical chatbot needs a few series of questions before it sends the information which the questioner wanted in the first place. The developers of the chatbot challenged themselves to craft a chatbot which can offer swiftly the information needed. This will hold true independent of how the users structure or ask the question.
Chatbots are simply another step towards automation. Technology analysts claim that automation will result in the creation of millions of jobs spanning the next decade. These can be classified as intelligent agents. They represent a collection of AI systems which is capable of comprehending human interaction. It can also make a limited number of decisions.
Present day chatbots are simple. However, they will be much more advanced within next five years. They can function in more complex areas like cars that drive themselves. These kind of programs are useful for companies who want to slash expenses. The effect of chatbots will be felt the maximum in consumer services, customer services, transportation, and logistics.
Usage of chatbots has increased tremendously. As per a recent survey, about 45 percent of adults admit to having interacted with chatbots. The latter can access emails and calendars. They can also go through a user’s browsing history, media viewing history, playlists, and purchases. This will help to make an excellent view of any person. It helps the chatbot to offer a customized assistance. This is extremely valuable to banks or shops trying to deliver a better customer service.
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