The Success Story of Tokio Marine & WIZ.AI


Plug and Play's corporate partner, Tokio Marine, a leading insurance provider, collaborated with Plug and Play's program startup, WIZ.AI, to create an automated telemarketing and aftersales initiative in Indonesia. The initiative aims to mitigate the cost of setting up telemarketing teams and to improve conversion rates of outbound marketing efforts.


About Tokio Marine


Tokio Marine was established in the year 1879 as the first insurance company in Japan and has grown over the decades, now offering an extensive selection of General and Life insurance products and solutions in 46 countries and regions worldwide. They have been a corporate partner since July 2019.


About WIZ.AI


WIZ.AI is an AI speech agent for enterprise services in industries such as banking, healthcare and insurance. Their AI call agent is able to perform various functions such as telesales, marketing, aftersales customer care and support, and training. WIZ.AI empowers enterprises to take back control from outsourced call centres, to deliver customer service that is always consistent with their own brand.


The Partnership


Tokio Marine is a Founding Anchor Partner in Plug and Play APAC’s Insurtech program. WIZ.AI was part of Plug and Play APAC’s Insurtech program. Tokio Marine Asia’s Digital Strategy team met with WIZ.AI in Singapore through the Insurtech program.


Tokio Marine’s Indonesia team also met WIZ.AI through a curated Plug and Play Deal Flow, where Plug and Play sourced for chatbot solutions with Bahasa Indonesia capabilities for Tokio Marine Indonesia. After their meeting with WIZ.AI, Tokio Marine Indonesia was interested in partnering with WIZ.AI to enhance their telemarketing and aftersales processes and later on, expanded their original project scope to include a new voice-enabled campaign for their pilot.


WIZ.AI enables the deployment of natural sounding conversational AI for specific scenarios. For this partnership, WIZ.AI’s voice bot was used to help qualify potential customers, and to gauge the customers’ interests for upselling and cross-selling opportunities. This enabled Tokio Marine Indonesia to avoid the costs of setting up a full-scale telemarketing team, and to instead focus on improving their communications with customers which had been qualified using WIZ.AI’s voice bot.


With the successful completion of the pilot project, Tokio Marine Indonesia is determining their next steps, and evaluating the feasibility of scaling this project to a wider range of products and campaigns.


Timeline

  • Jul 2019: Tokio Marine signed as a Plug and Play Founding Anchor Partner

  • Aug 2019: Deal Flow between Tokio Marine Indonesia and WIZ.AI

  • Jan 2021: Commencement of pilot project between Tokio Marine Indonesia and WIZ.AI

  • Sep 2021: Commencement of pilot project (Phase 1) for policy information and renewal campaign

  • Aug 2022: Scaling up pilot project to Phase 2, with an improvement to add more products and aftersales services


Key Takeaway


Pre-planning of the pilot project can help corporations to maximise the benefits of the startup partner’s solutions. Tokio Marine Indonesia was able to maximise their benefits from the AI- driven voice-bot solution.


Since they had planned and mapped the entire end-to-end customer journey, they recognised that the integration of the voice-bot with their direct-to-consumer (D2C) website’s landing page was one of the key factors to boost the click-through rate (CTR). Tokio Marine Indonesia is in the midst of revamping their customer website, and has established a new sales channel by leveraging the AI-driven voice-bot as an automated telesales agent. This has resulted in a high customer conversion rate of 54%. Tokio Marine will continue to enhance the customer experience on their website, and leverage the data obtained from their pilot project for future digital marketing strategies.


How Plug and Play Can Help


Plug and Play is the ultimate innovation platform, bringing together the best startups and the world’s largest corporations. Collaborating with startups is a great source of inspiration and innovation, but it can also be a challenge at times. Let us show you how to adopt the concept of open innovation to help your business succeed.


#Casestudies #Insurtech

 

Tokio Marine is one of our Corporate Partners from our Insurtech program, which enables the world's largest insurance institutions and corporations to work with our startups.


WIZ.AI is one of our startups from our Insurtech program, which enables startups to work with the world's largest insurance institutions and corporations.


Find out more about our Insurtech program here.

Find out more about our Corporations here.

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