CoRover, a Bengaluru-based startup, has collaborated with the Life Insurance Corporation of India (LIC) to launch the conversational AI-powered chatbot LIC Mitra and take the country’s largest insurance company’s digital transformation to another level.

Share Market Live

NSE

CoRover.ai has developed LIC Mitra, which is available on LIC’s website and mobile app. It is powered by technologies such as Artificial Intelligence (AI), Machine Learning(ML), and Natural Language Processing (NLP) to understand and respond to users’ queries in multiple languages. The technology allows users to interact with LIC Mitra even with voice.

“LIC’s digital services have undergone a complete transformation with our unique technology that powers LIC Mitra. With LIC Mitra, users can now know about LIC products, past premiums paid, upcoming premiums, policy maturity date, and much more in addition to answers to insurance-related general queries. To get these details, users only need to enter the insurance policy number and date of birth and the technology takes care of the rest. We are happy to share that this is only the first phase of LIC Mitra’s AI virtual assistant. Many more innovations are in the pipeline and will be launched soon,” said Ankush Sabharwal, Founder and CEO at CoRover in his tweet.

LIC Mitra enhances LIC’s customer support services by automating real-time responses to customers’ queries. It can also contribute to accelerating sales and revenue, help in reducing operational costs, improve efficiency and enhance customer experience. What’s more, is that it is available 24x7.

Some of the features LIC Mitra can process include product information, wherein users can use LIC Mitra to know about various insurance products, their features, and benefits. It also enables users to compare various insurance plans. Existing customers can check the latest status of their policy and get details like premium due date, policy maturity, etc. Customers can also know about their first unpaid premium using LIC Mitra.

In addition to LIC, CoRover is offering chatbot solutions to dozens of clients including IRCTC, Max Life Insurance, NPCI, Fastag, Mahindra Group, Digital India, RuPay, and many more, and has over 1 billion users.

First Published:Apr 20, 2023 12:07 PM IST