Alexa, Kate become hot names for insurance
A third insurer has launched on Amazon’s cloud-based voice service Alexa, while another has launched its own hi-tech customer service operative.
Grange Insurance, headquartered in Columbus, OH has joined
Liberty Mutual (and its SafeCo brand) and
Nationwide, by adding a ‘skill’ to the 7,000 now available to Alexa users.
“The Grange Insurance Skill was created to allow our independent agents and policyholders to interact with Grange in a brand new, convenient way,” Grange Insurance VP, Chief Information Officer, Tim Cunningham said. “It’s easy and intuitive to use, and it will help our independent agents and policyholders when they multitask inside their homes and offices. Now, they can just ask Alexa and hear important information about Grange Insurance.”
The rise in ‘smart speakers’ is predicted to be one of the hottest trends and Amazon has sold more than 5 million of its Alexa-powered Echo devices already.
When Liberty launched on Alexa last year, it said it was redefining the process of buying and finding out about insurance.
"Alexa presents a unique opportunity to have a vocal presence in consumers' homes, providing additional value and ease, and allowing a new connection to be made between insurance providers and consumers," said James MacPhee, executive vice president and Chief Operating Officer, U.S. Consumer Markets, for Liberty Mutual Insurance.
Meanwhile,
GEICO has added a virtual assistant of its own to its mobile app. Customers can ask ‘Kate’ a question and she will respond with quick, personalized answers paired with her insurance knowledge.
"Interactive voice assistant technology has altered the way customers interact with their mobile devices,” said Pete Meoli, GEICO mobile and digital experience director. "Kate is very intuitive and has been programmed to connect with policyholders at a deeper level."
Natural catastrophes to cost XL Group $245 million for Q4, 2016
The XL Group has announced its preliminary net loss forecast for the fourth quarter of 2016 relating to natural catastrophes.
The pretax $245 million is net of reinsurance and reinstatement premiums and is split approximately $125 million in the insurance segment and $120 million in the reinsurance segment.
The largest single loss is from Hurricane Matthew with an estimated loss of $125 million, split almost evenly between insurance and reinsurance. Recent earthquake activity in New Zealand was the second largest loss, estimated at $75 million.
The group intends to release its fourth quarter and whole year results on Feb. 1, 2017.
Best auto insurer for millennials revealed in survey
CSAA has been revealed as the best auto insurer for millennials by an insure.com survey.
Insurers were ranked by value for price, customer service, claims processing, likelihood to renew and likelihood to recommend by customers aged 18 to 34.
In second place was USAA with Nationwide picking up third.
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