confident that chatbots are set to be at the core of a digitally transformed insurance sector : “ Chatbots are integral to many enterprise initiatives focused on business modernisation and digital customer experience .” Chatbots ’ ability to offer a customised experience 24 / 7 with lower processing time and faster resolution is expected to generate over $ 8bn in savings globally by 2022 . In the new generation of insurtech firms , chatbots are even part of the core value proposition .
Meet Lemonade , perhaps the most well-known poster child for the insurtech revolution . Based in New York , the $ 2bn startup has exploded across the US market , becoming the top rated provider of renter ’ s insurance in the country .
“ In less than three years , Lemonade has expanded across the US , given back to dozens of charities chosen
47 www . fintechmagazine . com