InsurTech company PeppercornAI has unveiled its SaaS product, featuring its digital assistant, Pipr, for MGAs, insurance providers and brokers. Pipr is a platform that utilizes conversational AI to create a unique, reactive and empowering customer experience. It streamlines the motor insurance purchase process by using natural language understanding, ensuing that the need to fill out forms and wait on hold is removed. PeppercornAI has surpassed initial expectations since launching Peppercorn Insurance as its MGA in January 2023, which prompted the acceleration of its SaaS product launch. The company’s ‘conversational-first’ approach has demonstrated its ability to lower operational costs and mitigate risk by offering an end-to-end digital experience.
Peppercorn insists that less than one in ten customers ever needs to interact with a customer agent, hence the number of agents needed in call centres is reduced. Its automated pre-sale underwriting feature can help to improve risk and lower loss ratios, which is typically a manual process and takes time and resources. Rising costs have put pressure on the motor industry, as increasing costs for claims payouts and vehicle repairs have led to record high premiums and policy renewals for consumers. PeppercornAI’s SaaS product intends to aid the industry by utilizing its technology to relieve cost pressures, which it says can deliver lower prices and improve the customer experience simultaneously.
“We’re on a mission to help the entire industry accelerate its digital transformation, whether it’s an InsurTech startup with ambitious growth targets or a legacy provider looking for solutions to drive greater efficiencies,” stated Nigel Lombard, CEO and founder. “Our team of insurance experts have transformed the customer experience to a wholly digital conversation, by building and training the world’s first conversational AI platform that’s purposefully built for insurance. Not only is this conversational-first approach providing a better customer experience – which we’re seeing with consistently great reviews – but it’s also proven to lower expenses and helps to mitigate risk too. It’s a win-win-win – for customers, businesses and the industry.”