Chinese language insurance coverage firm Fanhua has entered right into a partnership with Baidu AI Cloud to create Du Xiaobao, an AI-powered insurance coverage gross sales assistant.
The collaboration goals to assist insurance coverage brokers with superior digital instruments, facilitating a better and environment friendly gross sales expertise.
Underneath the settlement, Fanhua and Baidu will pool their sources to develop and handle Du Xiaobao.
Fanhua will contribute servers, insurance coverage information information, a product growth workforce and an professional workforce.
In the meantime, Baidu will present massive mannequin dialogue, mannequin refining capabilities and monetary mannequin middleware technical assist.
Baidu’s contribution may even contain upgrading conventional insurance coverage advertising assist instruments to enhance language processing, emotional expression and logical reasoning.
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This partnership is anticipated to empower insurance coverage brokers to adapt to market adjustments and buyer wants extra successfully, in the end boosting gross sales effectivity and repair high quality.
Du Xiaobao is because of start beta testing with seed customers in June 2024, with the official launch of model 1.0 scheduled for July 2024.
The primary model will utilise clever dialogue to supply assist to insurance coverage gross sales brokers in varied situations, together with insurance coverage information Q&A, product session, skilled growth, advertising and clever buyer administration.
Fanhua co-founder, vice-chairman and CEO Yinan Hu stated: “Envisioning the longer term insurance coverage market, we firmly consider that AI robots will turn out to be probably the most proficient unbiased brokers. It can introduce a next-generation manufacturing technique, revolutionising the operational programs and fashions presently used within the insurance coverage trade.
“With the applying of AI massive fashions, prospects can take pleasure in a extra skilled and handy insurance coverage buying and claims service expertise. Fanhua and Baidu will be a part of arms to usher the insurance coverage trade into a brand new period, attaining leaps in productiveness and effectivity.”
Baidu government vice-president and Baidu AI cloud enterprise group chief Dou Shen stated: “We consider that with our mixed efforts, AI robots will turn out to be the brand new driving pressure in insurance coverage distribution, and our massive mannequin know-how will see broader software and sustained growth on Fanhua’s platform.”
Earlier within the 12 months, Fanhua introduced a $500m (3.62bn yuan) funding settlement with the Singapore-based funding firm White Group and its companions.
