Factors facilitating conversational artificial intelligence at an insurance organisation in Johannesburg

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Globally the insurance industry is changing significantly due to new technological advances, data growth asymmetry and more recently the Covid-19 related disruptions (Balasubramanian, Libarikian, & McElhaney, 2021). Further to these changes, are consumer tastes and preferences fuelled by availability of information and accessibility of platforms such as social media. Consumers have become more price and product sensitive due to the many options available from competing products and companies. To keep up with these changes which present both risks and opportunities, insurers have been long exploring with technologies such as Artificial Intelligence, Internet of Things, Cloud computing to name a few (Santenac, Majkowski, Manchester, & Peters, 2019). Artificial Intelligence is a buzzword in the insurance industry as most insurers are looking at ways to drive effective distribution channels, be cost effective and exceed customer expectations (Accenture, 2018). Conversational AI is a subset of AI which this study seeks to explore in depth. The aim is to consider global, continental, regional and local insurers’ implementations of conversational AI and derive insights on factors that led to successful CAIs implementations.
A research report submitted in partial fulfilment of the requirements for the degree of Master of Management in Digital Business to the Faculty of Commerce, Law and Management, Wits Business School, University of the Witwatersrand, Johannesburg, 2022
Artificial intelligence, Insurance industry, Conversational agents