19Jun
By: Andrew Lo On: June 19, 2018 In: Artificial Intelligence, Insurance Comments: 0

We recently attended some conferences like the Deloitte InsurTech Summit, Insurance-Canada: Tech in Action Conference, the Digital Marketing for Financial Services Summit 2018 & more and were humbled by the massive interest that peers from the industry showed in our AI integration process.

Kanetix Ltd. has always believed in A/B Testing with innovation and technology. And we strive to share our knowledge with others in the Insurance and Financial Services space as well, in order to foster the overall growth of the industry. So here’s a case-study of how we used advanced algorithms in our day-to-day business to enhance user experience.

Our AI Partner:

Integrate.ai (IAI) is an AI-powered enterprise software platform that helps large consumer businesses transition to a customer-centric business model. The platform applies cutting-edge artificial intelligence and machine learning algorithms to a unique combination of social media, alternative data, and first-party data to personalize and optimize engagements.

The Reason Behind This Innovation:

To Mitigate Rising Cost of Customer Acquisition:

At Kanetix Ltd., our success is driven by our ability to provide new business opportunities and growth to our insurance partners.  Year over year marketing costs continue to skyrocket, increasing customer acquisition costs. The solution is investing in technologies that allow us to reach a growing number of website visitors and convert them at a best-in-industry rate into customers for our insurance partners.

To Make Optimum Use of Massive Data:

As Canada’s largest customer acquisition platform for insurance and financial services, we have amassed data for over 20 years. Investing in technology that uses this data to maximize every marketing dollar has been a priority. As the volume of data expands, we need more sophisticated tools to analyze and act on this data.

The Implementation

KXLTD-008_2018_Deloitte_InsurTech_Summit_BlogHeader_1170x620_Timeline

The Results:

KXLTD-008_2018_Deloitte_InsurTech_Summit_BlogHeader_1170x620_Results

What’s next ?

Kanetix Ltd. has already created a proven data model that is delivering successful results in insurance quote creation. To take it to the next level, we have been testing additional designs based on customized user experiences, experimenting with the types of questions asked and the corresponding calls to action.

Additionally, we are helping industry peers and insurance partners optimize their own data and drive conversions by leveraging AI technology. If your organization wants to join the ranks of insurance providers investing in today’s cutting-edge technology, or if you simply have questions about what this type of technology can do for your business, connect with us today.


 

About the author:

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As President & CEO, Andrew Lo leads all digital innovation and operations for Kanetix Ltd., Canada’s largest digital customer acquisition platform for insurance and financial services.  He is also a Business Strategy Advisor for Ryerson University’s DMZ helping to develop digital entrepreneurs and startup companies at the #1 University Incubator in the world.
Andrew has 25 years of experience as a business, technology and digital leader for FinTech companies such as Filogix and D+H (now Finastra), and has developed organizations from startups into industry shaping ventures.

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