COGNITIVE VIRTUAL ASSISTANTS

Transcription

1 COGNITIVE VIRTUAL ASSISTANTS

2 THE PROBLEM Buying products and interacting with financial services companies online is hard! For customers - it takes a huge effort For businesses - conversion rates are low and it s inefficient Financial Services companies need to increase online revenue by 10x in the next 5 years at the same time reducing cost

3 WHAT THE ANALYSTS SAY 40% of insurance jobs will be automated by % of of customer service interactions will be handled by conversational agents by 2022 Up from 3% in % of enterprises will be using Virtual Assistants for business processes by 2019 Spending on AI US$58bn by 2021 up from $12bn in 2017 AI is the fastest growing tech sector at 50% CAGR JP Morgan 2017

4 AI MARKET STATISTICS 76% Execs AGREE AI is fundamental to their success 39% Execs AGREE AI will improve revenue by % Execs AGREE future growth of their org is dependent on large scale AI Drivers 28% competitive advantage 25% Executive led 71% Execs AGREE AI inevitable and disruptive China & India Most mature in AI $6.7m p.a. SPEND Organisations that have deployed AI Source: Infosys 2017 AI Report & InsuretechConnect 2017

5 THE SOLUTION Flamingo AI solves the problem of low online sales conversion rates & low customer service efficiency Based in NYC and Sydney Flamingo AI is an Enterprise SaaS company in the Artificial Intelligence (AI) & Machine Learning field within the emerging category of Conversational Commerce and Cognitive Virtual Assistants. Flamingo AI's Virtual Assistants are MAGGIE & ROSIE. Flamingo AI is also one of global IT Analyst firm Gartner s Cool Vendors.

6 OUR VIRTUAL ASSISTANTS MAGGIE is excellent at answering the many questions customers have when they arrive at a website or product page. She can even connect to Twitter, power Facebook Messenger or interact with other message or voice interfaces. MAGGIE typically sits at the top of the sales funnel and not only qualifies leads but also seeks out and generates leads. ROSIE is brilliant at guiding customers through sales, on-boarding, claims, and service enquiries - similar to those that call centers handle. When in sales, ROSIE works to guide customers through research, quotation, application and payment. When in claims and service, ROSIE can guide customers to achieve their goal such as solve a problem, make a change, lodge a claim.

7 FLAMINGO AI S PRODUCT SUITE CUSTOMER EXPERIENCE JOURNEYS INQUIRE QUOTE APPLY PURCHASE ONBOARD CLAIM SERVICE MAGGIE - FAQ BOT MAGGIE -VIRTUAL ENQUIRY ASSISTANT ROSIE - VIRTUAL SALES ASSISTANT ROSIE - VIRTUAL SERVICE ASSISTANT ROSIE - VIRTUAL AGENT ASSISTANT FLAMINGO AI CUSTOMER JOURNEY PLATFORM JOURNEY ASSIST

8 TARGET METRICS Higher Sales Conversion Rates Complex financial products are much easier to sell if customers are guided through the purchase process, resulting in a higher conversion rate Increased Customer Retention Customers purchase the right product for their needs, which leads to higher customer retention Increased Efficiencies Customer interactions are able to be automated, meaning that employees are required less often or not at all, reducing customer calls and cutting staffing costs. Employee s productivity increases working along side AI capability 100% INCREASE IN ONLINE SALES CONVERSION 20% INCREASE IN CUSTOMER RETENTION 30% IMPROVEMENT IN PRODUCTIVITY

9 USE CASES Retirement product applications Insurance renewal Claims lodging On-line personal loan applications Employee Benefits insurance quotations Life insurance applications Wealth Management Needs & Requirements Post claim engagement Automated call center enquiries Auto insurance Sales Insurance onboarding

10 OUR RESULTS TO DATE 41% APPLICATION COMPLETION 32% QUOTATION SUBMISSION 90% INCREASE IN CUSTOMER RENEWALS 35 to 65 INCREASE IN NPS 20% INCREASE IN CUSTOMER RETENTION

11 COMPETITIVE ADVANTAGES True Machine Learning Customer Experience experts Vertical expertise Easy integration Faster ROI Machine Learning as a product that delivers commercial benefit Contextually sensitive, understands and processes semantics Completely unsupervised machine learning, requiring no data science expertise In-house IP: no fees, no lexica maintenance, and no syntactic pattern matching needed to scale Auditable and controllable learning interface ensures learned answers are compliant before being used Visualization tools allow clients to see inside and manipulate their AI brains Infrastrucure-in-a-box means Flamingo can be deployed anywhere on any cloud provider 1 Patent lodged 2 Patents in process Uses client s own single source of truth and business logic Modular, redundant, platform built to scale across the globe

12 TRUE MACHINE LEARNING & UNIQUE DATA SETS Pre Seeding or Human to Human HAVA Mode (Human Assisted Virtual Assistant) Fully Automated

13 PRICING MODEL PAID TRIAL PRODUCTION PILOT OR TRIAL MONTHLY FEE MONTHLY SUBSCRIPTION includes all costs USAGE & REVENUE SHARE CONSUMPTION DRIVEN and/or REVENUE SHARE MODEL OPTIONAL PRICING MODEL PLATFORM PERFORMANCE FEE % of revenue generated in the platform

14 LEADERSHIP DR CATRIONA WALLACE Founder & CEO Established and proven entrepreneur, recognized business leader and AI expert. PhD in Organizational Behavior Human Technology Interaction. Recognised as Top-5 Global Customer Experience Expert. Advance Australia s Top Tech Innovation Award. Founder and now major shareholder of successful businesses including multi- Award winning firm, Fifth Quadrant and ACA Research. JOE WALLER Chief Technology Officer Former Technology Strategist and Chiefof-Staff of Betfair, the world s biggest sports trading platform Played a key role in growing the company from a UK technology startup into the world s largest internet betting exchange Ran the product and platform teams that built and scaled the exchange to annual revenues of over $700 million, matching over 30,000 trades a minute (more than all of Europe s stock exchanges combined). DR JACK ELLIOTT Chief Data Scientist Published expert in & Internationally academically recognized for large-scale, natural language processing and linguistics with key contributions in a number of fields. Software engineering career spanning over 15 years and three continents across the banking & financial sectors Leveraging academic expertise to drive the deployment of text processing algorithms on a massive scale to provide intelligent, native insight on the Flamingo platform.

15 COGNITIVE VIRTUAL ASSISTANTS ADDRESS 450 Lexington Avenue, 4th Floor, New York, NYC, TELEPHONE US Au Level 2, 50 Bridge Street, Sydney, NSW 2000