Elafris is a chatbot platform that has been developed specifically for the banking and insurance industries. Elafris enables insurers to move beyond traditional customer engagement channels such as telemarketing and email campaigns by offering an AI powered customer interface in the form of a specialised chatbot, one that can automate payment processing, identify up sell opportunities and perform niche day-to-day operational tasks, relieving insurers to focus on other key strategic areas.
Jake Diner, Elafri’s CEO has stated that “Millennials’ expectations about communications are very different from what was the norm even five years ago.”
Elafris enables insurers to move beyond traditional methods (like emails and SMS) to adopt next generation communications which are potentially more appealing for the mobile focused millenial segment
Elafris has already entered into strategic partnerships with technology providers such as Majesco and Silvervine. For example, under the Silverline agreement, the Elafris platform is integrating with Silvervine’s Software’s policy administration system, whilst enabling customers to communicate via any device and does not require customers to download an app. John Baker, VP of Business Development for Silvervine Software has remarked that “Chatbots and messengers are the way of the future. We want to be the first insurance software company to offer this innovation to our clients.”
Ultimately, the rise of the chatbot era has been fuelled by a mobile first world and Elafris’s NLP (natural language processing) software presents a great opportunity to open up an entirely new distribution channel for insurers. Additionally, as early adopters of AI chatbots, insurers can streamline the way they communicate with customers and make it far easier to purchase property insurance and simple health insurance policies. Although chatbots are still in their nascency, insurers who accept some short term volatility will reap a technological advantage that can potentially be sustained for decades.
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