Digital Voice Assistants Sell Insurance
A German-based insurtech firm sells services via digital voice assistants and delivers policies in six minutes.
16:43 15 October 2018
DFV Deutsche Familienversicherung, which prepares an initial public offering on the Frankfurt Stock Exchange, is offering its services via digital voice assistants, such as Amazon Echo and Alexa. The entire process for the issuance of policies runs completely automatically and takes six minutes on average.
Dr Stefan Knoll, founder and CEO of DFV: "Deutsche Familienversicherung is an insurtech firm and an insurance company where digital transformation and digital value creation work. The complete digitalisation of our processes, covering everything from concluding policies to claims settlement, was and is a central prerequisite for succeeding in a distributed market. This and the fact that we, according to the consumer testing institute Stiftung Warentest, have the best products is the basis for our tremendous growth."
DFV, which is based in Frankfurt, uses a highly modern proprietary IT platform and java-based portfolio management system in managing over 420,000 active policies with just 109 employees.
Marcus Wollny, Chief Operating Officer added: "We have developed a digital insurance platform that enables us to process business transactions in real time. For this purpose, we use artificial intelligence coupled with an event-based process machine and flexible interfaces. This enables us to optimally integrate our insurance app and our customer portal. This allows our customers, for example, to make changes to contracts very easily or submit claims and then receive a response directly afterwards. New products can be launched on the market within just a few weeks and it takes only hours to implement product changes."