Plum, a leading insurtech platform, reveals impressive adoption rates for its PolicyGPT tool, resolving 68% of queries autonomously. Launched in April 2023, PolicyGPT, powered by OpenAI’s advanced GPT model, has seen significant traction. With an average of 1500 inquiries per week and 200 daily, it’s revolutionizing customer service in the insurance sector.
Built upon the RAG architecture, PolicyGPT educates users on their health insurance policies, enhancing transparency and simplifying complex issues. Saurabh Arora, Co-Founder, and CTO of Plum, emphasizes the importance of integrating technology into insurance to empower consumers and improve their experience. By swiftly addressing customer queries, PolicyGPT alleviates anxiety and enhances satisfaction.
Aims to further enhance customer service by increasing bot-led interactions and reducing response times. Identified areas for improvement include medical coverages, policy details, and claims processes. Debankur Biswas, Senior VP, Operations at Plum, highlights PolicyGPT’s role in saving valuable time for the customer service team, enabling them to focus on complex inquiries and enhancing overall service quality.
Track record of introducing innovative features such as WhatsApp claims and paperless reimbursements. With PolicyGPT and GenAI adoption, Plum continues to lead the insurtech industry, providing exceptional value to consumers.
About Plum:
Plum, founded in 2019, is India’s leading insurtech platform offering employee wellness and business insurance solutions to over 3500 corporations. Backed by marquee investors like Tiger Global and Peak VX Partners, Plum aims to make health insurance accessible and usable for employees, targeting 10 million lives insured by 2025.
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