Building An AI Index For A More Personalized Customer Experience
Sprout Insurance developed its own Quality of Life index powered by artificial intelligence to assess clients' positive lifestyle choices and match them with life insurance that is hyper-customized and affordable
What probably isn't top of mind when one thinks of intuitive and personalized customer experiences? Finding and managing life insurance policies. Enter Sproutt, a startup striving to reimagine live insurance by leveraging its own AI-guided index and analytics-driven approach.
The next-gen life insurance company work by rewarding clients for their quality of living, which it establishes using its Guided Artificial Intelligence Assessment (GAIA). This index considers such lifestyle as factors nutrition & exercise, sleep habits, emotional health, and work-life balance, which Sproutt believes are the most important elements determining one's longevity and life quality. To their benefit, Sproutt customers aren't stuck with their first score; instead, the startup offers clients a dynamic rating, meaning customers can make positive changes to the above lifestyle factors to improve their their rating, and receive savings in return.
Sproutt then matches members with optimal policies based on their index at a given time. The startup is just one of the many innovators in the health and related insurance space leveraging new applications of tech like AI and blockchain to reimagine the customer experience and enable journeys and products that deliver exceptional service. For more, check out the full research paper here!