Research On The Strategic Development Of AI Product In Insurance Of Pactera

In May 2018,Chairman Yao Qinghai of China Insurance Society issued a roadmap for the application of artificial intelligence in the insurance industry at the forum of "When insurance meets artificial intelligence-the new future of human society".The roadmap proposed that artificial intelligence in the insurance industry can be divided into three stages: electronization,automation and intelligence;it can be divided according to the strength of artificial intelligence.They are weak,medium and strong;they are divided into exploration stage,development stage and strengthening stage according to the life cycle of the industry.The rapid development of artificial intelligence technology has brought opportunities and challenges to the insurance industry,and fully welcomed the new era of artificial intelligence insurance industry.With the surge of insurance science and technology,artificial intelligence in the insurance industry value chain "product,marketing,service,operation,wind control" in-depth use,is changing the face of the insurance industry in all aspects.Artificial intelligence is used in the process and service design of customer demand and insurance products,which can better meet the individual needs of customers,pay more attention to customer experience,and provide high cost-effective prices and services.Artificial intelligence has a tremendous impact on employees in the insurance industry.Robots will partly replace human resources.In the past,insurance industry needed a lot of manpower to support claims and customer service.The intelligent customer service robot based on speech recognition and speech synthesis can solve the simple and conventional problems of most customers and reduce labor costs,and enhance the processing efficiency during peak business period.Artificial intelligence in the insurance industry intelligent underwriting,intelligent insurance,intelligent claims,intelligent customer service,intelligent anti-fraud and other aspects will provide technical support to enhance the value and efficiency of the insurance industry.The Insurance Division of Pactera Financial Enterprise Group mainly provides manpower outsourcing,solution consulting and implementation,testing services,operation and maintenance services for various insurance companies.There are more than more than 30 insurance clients,including China Ping An,China Life Insurance and so on.Insurance business in Pactera is transforming from outsourcing to products and solutions,both opportunities and challenges.Traditional products and solutions have a high degree of homogeneity,facing more and more fierce competition in the Red Sea.Many traditional products and solutions end up competing for whose prices are low,and some projects even lose money if they are not implemented risk control.We need to transform and deepen our existing products and solutions,to outperform our competitors in the advancement,uniqueness and differentiation of products and solutions,to develop and promote intelligent products and solutions,to increase product purchasing rates and gross margins,and to realize the company's product-and service-driven development strategy.The Strategic Development of AI Product in Insurance of Pactera is mainly around the following aspects.First of all,combined with the comprehensive development of service products,we use our insurance industry proficiency in business and process advantages,effective combination of business and artificial intelligence technology,research and development of customer value and good experience of insurance intelligent products.Second,improve the bargaining power of products,use artificial intelligence technology to solve the effective pain points in traditional business,in the product and solution of advanced,unique and differentiated than traditional manufacturers,one or two fist products quickly occupy the market.Third,to promote the promotion and development of other businesses,cross-selling our company's other lines of business products,for the company's comprehensive development of business to lay a solid foundation.